Equity release simply refers to a range of products that let you access the equity (cash) tied up in your home. To first be accepted for equity release you have to be a homeowner and above the ages of 60. Due to the increase in house prices, many people’s homes are worth significantly higher now than at the time of purchase. This means homeowners could potentially have a lot of cash stored up in their property that they could have access to. Because of this – Equity release has had a huge boom over the years with older people withdrawing almost 8m a day from there home according to The Telegraph.
✓ Equity Release as an answer to combat debts
In 2017, 39% of customers who have released equity said that paying off mortgage or debt was the main reason they did so*. With the cost of living constantly on a rise, many older homeowners want to retire but the catalyst of staggering bills and debts is in their way. This can also be a trend found in those that have already taken the leap into retirement but have been overwhelmed by the demands of ongoing debts. Freeing up the cash locked in your property has become a great method for older homeowners to stay on top of their debts and loans, this could be a car, credit card or even a loan to another company.
✓ No need to MOVE
For most people, their home is their most important asset and a place which all their memories have been created. You can release some of your home’s value in return for cash, without having to move home. Equity release allows you more freedom to live comfortably where you desire. Access Tax-free cash from your property without having to sell your home by getting a free quote today.
✓ Fixed interest rate
Your interest rate is fixed so it won’t increase over the years, this way you can be sure of what you are going to be charged and what to expect.
✓ Live the retirement you’ve always wanted/ fulfil your lifelong aspirations
Many people are asset rich yet have no substantial cash in their pocket, the dreams of travelling during retirement shouldn’t have to seem so far away- Find out how much tax-free cash you can release from your house today with a free equity release quote. Equity release gives you the option of boosting your income for things that are on your to-do list, like home repairs and holidays, without having to dip into your saving!
✓ Support when you and those around you need it the most
Money released can be used to gift loved ones and spread the costs of big life decisions such as tuition fees and deposits for homes at a time when they need it most.
No matter what you desire to do with your equity released, it’s down to you there are no restrictions! If you’re curious about how much you can release from your home or would like to take the first steps towards releasing equity – Click here or simply select your country on the map below.
* http://www.telegraph.co.uk/financial-services/retirement-solutions/equity-release-service/pay-off-mortgage-with-equity/
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