Can equity release schemes help?
Equity Release schemes are normally available to the over 55’s. There are several different types which all allow a lump sum to be released. Some act like a mortgage with a monthly repayment. Others accrue interest which is not repaid until the house is sold, or the borrower dies. This means that the equity left in the property will be reduced. Some schemes also mean that ownership of the property is transferred to the equity release company. It is always advisable that legal advice is taken before entering into an equity release scheme. We would also advise that you contact us for an appointment to discuss the situation. You can call our helpline on 0800 138 1111.
