Equity Release schemes are a useful financial vehicle for people aged 55 and over who are equity rich and cash poor. These schemes are also called Home Reversion, Home Income and Lifetime Mortgages.
They are a means of releasing equity from your home and then using the cash for financial planning such as generating extra income, inheritance tax planning or treating yourself to home improvements, holidays or a new car.
With over 40 products in the market place it is imperative that you receive Independent Financial Advice when deciding if this is the right action to take. You and your family need to understand what the impact would be on their inheritance by you completing an Equity Release scheme. It should involve the whole family.
- Home Reversion Scheme
- Equity Release
- Home Income
- Lifetime Mortgages
Buy to let properties can also be considered for Equity Release.
Equity release will reduce the value of your estate and can affect your eligibility to means tested benefits.
Please contact us on 020 8540 7062 for more information.
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