If you are aged 55 or over and a homeowner, then Equity Release (ER) is a way for you to access the wealth tied into the value of your house, without having to sell your property or move out. All money taken through ER is tax free.
It means you can put it to positive use to improve your quality of life, be it a lump sum for a large expense, or a steady stream of smaller payments for a more managed income. An ER loan lasts until the house is sold when you either die or move permanent care, so it is a big commitment.
ER mortgages have no fixed term and come with a ‘no negative equity guarantee’, meaning that you or your family will not be liable to pay any more after you have passed away. Those who choose an equity release product can take the money as a lump sum, several smaller payments or a combination of the two.
Please get in touch to arrange an initial discussion to explore whether ER is the right option for you.