What is equity release?
Equity Release helps homeowners of 55+ years release capital tied up in their home without the need to take out a traditional mortgage.
Depending on your age and the value of your property you can choose how much equity to release. The released capital is in the form of cash and you are therefore free to choose what to do with it.
Unlike a traditional mortgage, no repayments are made until death or if you move into long term care, in which case the house is sold and the loan repaid.
With equity Release there is no standard plan, all of them are slightly different as it is a complex financial tool. As discussed above, your age, the value of the property, where it's located, in what state of repair, and many other factors all have to be considered.
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