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Financial Rewards of Equity Release

An equity release plan can offer you a more comfortable retirement. If suitable, you can apply for a lifetime mortgage, drawdown lifetime mortgage or home reversion plan and reap the benefits a lump sum of tax-free money or a regular additional income can give you.

Pay off some debts with a tax-free lump sum through a lifetime mortgage

By taking up the option of a tax-free lump sum through a lifetime mortgage or even payment by instalments with a drawdown lifetime mortgage, you will be able to pay off other debts you've accrued over your lifetime. Perhaps while keeping up with your mortgage repayments and other life expenses you eventually fell behind on your credit card repayments or car loan. Now you've paid your home off (or have a small amount owing), you can consider releasing the equity in your home and use it to pay off some debts so you can enjoy a relaxed and financially worry-free retirement.

Clear your mortgage with a drawdown lifetime mortgage or home reversion plan

Similarly, equity release could put an end to the hassle of having the bulk of your monthly income go towards your mortgage repayments. Chances are your home is worth more than when you first bought it yet you're still left paying thousands of pounds on it years later. By releasing the equity in your home, you will have more access to your monthly income than ever before.

Enjoy financial peace of mind through equity release

All those things you had planned to do in retirement can seem out of your reach because your pension or other income is insufficient, especially with the rising cost of living. In particular, a drawdown lifetime mortgage can be the answer you've been looking for. Most UK properties have grown in value over the years so by releasing some of this equity with a drawdown lifetime mortgage, you can enjoy access to a fund of money when you need it most. An additional benefit of a drawdown lifetime mortgage is that you only accrue interest on the cash you've chosen to withdraw from the fund.

To learn more, please phone one of our advisors who will discuss whether a lifetime mortgage, drawdown lifetime mortgage of home reversion plan is the best option for you.

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