Archive for the ‘equity release loan’ tag
Beginners guide to Equity Release Loans
Equity release loans can help you if you’re looking to raise a lump sum of cash for a costly purchase like a new car or home improvements, or simply consolidating some debts and credit cards to bring down those steep interest payments. Loan rates have never been lower than they are right now, and equity release loans are a safe and secure way to release some of the value locked in your house.
Is an Equity Release Loan Right For You?
As equity release loans become more widely available to homeowners aged 55+ in the UK you could be in two minds about whether to pursue a loan further – on the one hand, you’ve worked all your life to pay off your home and a loan would put you back to square one. But on the other hand, your property is your biggest asset so why not use it as part of your retirement plan and enjoy it like any other savings. Deciding whether an equity release loan is for you firstly depends on how you feel about this.
Equity Release - unlocking money from your home
The right equity release mortgage can reward you with great financial perks in retirement. If you are 55+ and your home is worth £50,000 or more then you may be eligible for a lifetime mortgage, drawdown mortgage or home reversion plan.
