How Equity Release Schemes Can Improve Your Retirement

The right equity release scheme enables you to make the most of one of your biggest assets by allowing you to unlock a large amount of cash tied up in your home. With soaring living costs, people approaching retirement may be finding it increasingly difficult to enjoy life at a time when they should be most. Whether extra funds are needed for day to day living, or you need to raise a cash lump sum, an equity release scheme could be the right thing for you to consider.

Equity Release can provide extra income for pensioners

The cash you decide to release is tax free and no regular repayments are required so it can be used for whatever purpose you want, such as:

• Raising one large cash lump sum (in stages if required)
• New car or motor home
• Go on a Mediterranean cruise or the holiday of a lifetime
• Make those major home improvements you’ve always dreamt of
• Pay off any outstanding mortgage or loans you may have – making an immediate improvement to how you enjoy your retirement
• Help the children or grandchildren financially
• Simply enjoy retirement more fully and with total peace of mind

Enjoying your hard earned cash without moving home

Before equity release schemes the common way to unlock the capital tied up in your property was to sell your home and downsize to a smaller or less desired area. Downsizing isn’t always convenient, especially in later life, when couples don’t want the hassle of moving. Many couples see their property as more than just bricks and mortar, perhaps becoming attached to it and the surrounding neighbourhood over a number of years. One of the many benefits of an equity release scheme is that nothing really changes. You can continue to live in your home for as long as you wish but the cash released can help to substantially boost you retirement income.

An equity release scheme can give total peace of mind to those worried that they won’t qualify for a loan or mortgage because of increasingly tight criteria in this current climate of financial instability. Equity release interest rates are very competitive compared with standard mortgages and you can also arrange fixed rates so you don’t have to worry about rising interest rates with the right equity release scheme. Consult an independent equity release specialist for more information.

Related posts:

1. Equity Release – Many Pensioners’ Solution for a Comfortable Retirement
2. Releasing Equity for a better retirement
3. Recession hits pension funds as almost two million Britons delay retirement
4. Lifetime Mortgage Interest Rate Drop