Is Equity Release right for me?
Do you wish or need to release some of the equity built up in our home?
Are you a home owner aged over 55?
Do you wish to make use of the cash tied up in your property?
Do you want to enjoy the benefits of the equity in your home without having to downsize?
Are you unable to access this equity by taking out a new mortgage or increasing an existing one?
Releasing equity using a traditional mortgage may not be an option for all older or retired homeowners. A traditional mortgage is often based on a homeowner’s disposable income, the term over which the loan will be repaid and the amount of equity remaining within the property. Many lenders will not provide loans beyond retirement, even to those who have built up large sums of equity in their property.
Your home is likely to be your biggest asset, particularly if you have benefited from the huge increase in house prices. But what good is it to have all that money tied up in your bricks and mortar, if you can’t afford to enjoy life to the full?
This is where an Equity Release product could help.