guide to equity releaseunlock equityEQUITY RELEASE GUIDE 
UNLOCK YOUR EQUITY
LIFETIME MORTGAGE OR HOME REVERSION ?


Life Time Mortgages ~ What Is Equity Release ~ How To Release Equity ~ Equity Release Calculator ~ Guide To Equity Release
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WARNING

Increasing your income or savings can affect your entitlement to benefits.

Check out other options such as local authority grants and your entitlement to benefits

Always take professional advice and consider carefully all your options before entering into any Equity Release contract


 

What Is Equity Release ?

The release of equity is simply releasing cash locked up in the asset of the house you own. So if you are considering how to release equity you should use only professional approved equity release advisers. They can advise and recommend a Regulated Equity Release product and therefore if things should go wrong you have access to the Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS).

How To Release Equity.
When considering what is equity release and how to release equity, the first option to consider is to move house to a smaller and cheaper property and thereby leave yourself with a tax free lump sum. Of course this will not suit everyone because it may mean moving out of the area and losing contact with friends and relatives but it should be the first option to consider.

Do You Want to Retain Ownership? When you are considering the release of equity from your existing home you need to ask yourself whether or not you want to retain ownership of your property. If this is the case it is likely that a lifetime mortgage may suit your needs, subject to how much equity you want or need to release.

Are You Prepared To Sell and Remain Rent Free for Life?
If you need a larger release of equity than can be achieved through a lifetime mortgage you may need to consider selling all or part of your property but retain the right to remain in it rent free throughout your lifetime. This method of releasing equity in known as a home reversion and works in a different way to life time mortgages.

There are other features when you consider the question of what is equity release and how to release equity.

Do I want a lump sum or would it be better to draw down cash each year subject to a maximum total amount?
Do I want the option to release further equity at a later stage subject to the value of the property and remaining equity at that time?
Do I want to guarantee a minimum percentage of the property value to be available to my beneficiaries following my death and subsequent sale of the property?

The options can be many and varied and that is good reason to seek professional advice and to consider only regulated equity release products.

 


The information contained throughout this site is not to be taken as advice or recommendation in any way. It is intended to give you an overview of what is available within the Equity Release market. Always seek professional advice before entering into any Equity Release contract.

Life Time Mortgages ~ What Is Equity Release ~ How To Release Equity ~ Equity Release Calculator ~ Guide To Equity Release

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