Property Equity Release



Information on property equity release for the UK

Equity release plans are also called lifetime mortgages and are a way of releasing cash that is tied up in your property. These schemes or plans allow you to borrow money against the value of your property. The amount borrowed will then be repaid when you pass away with the sale of your property.

There are a number of different types of property equity release schemes which offer lump sums and or regular income, but they all work in roughly the same way. They will lend you part of the vaule of your property in return for a share of the proceeds when you pass away.

For most people their home is the biggest asset they have so equity release turns their home into cash when they most need it. In most cases you should be at least 60 years old and have no outstanding mortgage on your property. One of the big advantages of these scheams is that you can live in your home until you die or go into long term care.

Before signing up for any scheam it is vital that you get independent qualified financial advice to ensure you have the full facts about the scheam.





Information on this page is the personal opinion of the author and should not be considered as advice of any kind..


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