What is equity release?
within the Introductions forums, part of the Feedback category; 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 …
Equity release allows homeowners who have little or no mortgage turn the equity that is locked in their property into cash. Equity release schemes are commonly available to peopel who are aged 55 or over. Anyone releasing equity has the option to remain in their home until death or until they are taken into long term care. Choosing equity release can be a tough decisiion for some, so caution must be exercised when considering equity release schemes. You can learn more on this equity release link here: http://www.releaseequity.net
Equity release is a way of getting cash out of your property without the need to move. You either borrow against the value of your home or sell all or part of it for a regular monthly income, lump sum, or the facility to get at equity as and when you like, or a mixture. If you still have an outstanding mortgage on your property you will need to pay it off, either by using some of the proceeds from the equity you release or from other funds. Once that’s done, the rest of the money you release can be spent as you wish.
Equity release is the process of releasing equity or money from a homeowner’s primary residence without having to move out of it. The equity release method is often utilized by seniors who want to free up their money later in life. Depending on where a homeowner lives, it may be possible to make this type of arrangement as early as one’s mid-50s. The main purpose of equity release is to raise money, either for income or for lump sum purchases. Many seniors use equity release in order to purchase a second home or to add to their retirement funds. An equity release may also be helpful if late life medical bills are an issue. Typically, this method of raising capital is undertaken when other options are not available. This is often the case when purchasing a second home, because taking out a second mortgage requires a large down payment. Using equity release, it is not necessary to come up with these funds. Simply put, equity release plans give homeowners a way to turn some of the value o
Equity is the difference between any mortgage you may have and the value of your home. Equity release is a way of unlocking the value of your property, without having to move home. It is used mostly by older homeowners who either have paid off their mortgage altogether or have only a small amount left to pay. You can release the value of your home to give yourself a lump sum or a regular income (or both). If you live in the property until you die, the money from its sale is used to pay the lender before anything left over is paid to your beneficiaries. If you sell the property before you die, you repay the money you borrowed from the lender. With some types of loan you might also have to make regular interest payments. This booklet gives some basic information about equity release and tries to answer some of the questions you should ask yourself and your advisers if you are considering this option. But this booklet is not a full guide, so if you are considering equity release you shoul
