WHAT IS EQUITY RELEASE?
Equity release is a way of releasing the wealth tied up in your property without having to sell it and move to another home. You could either borrow against the value of your home or sell all or part of it in exchange for a lump sum or regular monthly income. It’s also possible to release more equity from your property later in life if required.
Equity release is designed to help customers over the age of 55 years who own their property outright or have small mortgages left to pay. This communication does not constitute advice and should not be taken as a recommendation to purchase any of the products or services mentioned. Before taking any decisions, we suggest you seek professional advice.
There are two main types of equity release: lifetime mortgages and home reversion plans.
To help you make an informed decision, we have outlined the differences between each type of equity release and what factors to consider.
For many people, unlocking money tied up in property can make a real difference whether you’re thinking about family, consolidating debt or even home improvements. However, you should consider several important factors before deciding on equity release.
Everyone wants financial security. To achieve it you need a plan – without a plan you will arrive somewhere but the chances are it won’t be where you want to be. For your plan to work it needs to consider your goals, the choices available to you to meet those goals, and how changing circumstances might influence how you achieve your goals.
Approver Quilter Financial Limited – FRN 497604 (10th November 2023)