Release equity to fund bill cash payment

Posted in Equity Release Video News

13th July 2010

It costs an extra £100 to pay for energy bills by cash or cheque, as opposed to direct debit, so homeowners may want to get an equity release scheme to make up the difference.

Energy watchdog Ofgem have announced that the premium has worsened over the last two years and that they are keeping an eye on energy companies to make sure they are not being unfair.

Energy firms counter that it costs more to process cash and cheque payments, and that they're more than happy to explain the options available for saving money.

However, many older people prefer to use traditional methods of payment, so they may consider a drawdown lifetime mortgage to provide them with a little extra money to help pay the premium.

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