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Benefits of Equity Release Schemes

If you or a member of your family are over 55 and own your own home or have a small mortgage, you could be reaping the benefits of an equity release scheme provided through Age Partnership, by releasing the capital tied up in your home.

Perhaps you've dreamed of a round-the-world trip but could never save enough money to do it, or maybe you want more cash to do the things you like to do locally like watch theatre or live sports. Whatever it is you want to do, see or enjoy, an equity release scheme can offer you a way to do it.

Choose an equity release scheme to suit your requirements

A key benefit of an equity release scheme is that you have the option to obtain some of the equity from your home in the form of a lump sum or as regular cash payments. A lump sum will come in handy to those who, for example, might want to take that trip of a lifetime or maybe contribute to fund their child's wedding celebrations. Whatever the requirement, a lump sum is suitable for people with a more timely need for a larger sum of money.

On the other hand, choosing an equity release scheme that offers regular instalments can help boost your pension so you don't feel like you need to pinch your pennies to make sure they go further. You can even choose to put aside any remaining cash for when it comes time to pay for those simple but pricey pleasures like your football season ticket or a new outfit for a special occasion.

Tax free equity release payments

Whichever option you choose, the significant benefit of your equity release scheme is that the money you receive will be tax free no matter what.

Still own your home with equity release through Age Partnership

As well as the freedom to use the money you receive from your equity release scheme however you wish, you can also rest assured knowing that with a lifetime mortgage you still own your home. You don't need to make repayments as you would with a traditional mortgage but you get the benefit of releasing the capital in the home anyway.

While some people choose to sell their homes and downsize to something smaller or somewhere cheaper when they reach retirement, many people become tied to their home and don't actually want to move away from their family and friends. This is where an equity release scheme can come in to effectively save your home and your life as you've known it perhaps for decades. An equity release scheme can help to give you options where normally you might not have had any.

To find out more about equity release schemes from Age Partnership, give one of our friendly consultants a call on 08080 555 222 - 24 hours a day, seven days a week.

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