Equity Release offers homeowners over 55 the chance to unlock 'equity' in their own homes. There are many reasons for unlocking the value in your own home. It may be to generate a lump sum to invest, to purchase a holiday home, make home improvements or to fund a deposit for children to get onto the property ladder.
There are two types of scheme:
- Lifetime mortgages. Here the interest on the equity released 'rolls up' and the amount borrowed increases over time. The client benefits from the cash released and from not having to make a regular monthly mortgage payment.
- Home reversion plans. With this type of plan (which is not a mortgage) a property is sold to a reversion company in return for approximately 45 to 50% of its value.
Please contact us on 0845 371 0262 or 01732 617950 for more information on how equity release can benefit you.
*We are not regulated to give advice on Home Reversion Plans.
