Equity release customers who take out lifetime mortgages will be able to shrink the size of their loans further after the Equity Release Council (ERC) introduced a penalty-free partial repayments guarantee.
Your home is usually your biggest asset so equity release can be a good way to free up money for projects ranging from gifting money to family.
People release equity from their homes for many different reasons. From paying off debts to helping loved ones financially, equity release is an option to think about for homeowners aged 55 and over.
One of the most popular reasons to release equity from property is to make home improvements and renovations. Here’s what you should consider if you would like to renovate your home using cash from equity release.
Looking to release tax-free capital to use later in life? We’ve summarised The ERC’s key findings from their Autumn 2021 report to help make unprecedented amounts of tax-free capital.
A Retirement Only mortgage can be a good alternative option for homeowners aged over 55. It is very similar to a standard interest-only mortgage but is often easier for pensioners to apply for.
In most circumstances, repayment of the loan happens through the sale of your home when you die or enter permanent long-term care. We explain more in this blog post.
A mortgage adviser might believe that advice on equity release is appropriate for their client but they are not qualified to provide specialist advice themselves.
It's important to remember that just like with regular mortgages, there'll be costs to pay when releasing equity from your home. In this article, we look at the typical costs you can expect.
It is a big financial commitment and deciding to purchase an equity release product should not be considered lightly. Everyone’s circumstances are different and what’s right for you may not be right for someone else.
