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What is equity release?

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What is equity release?

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Equity release allows homeowners over the age of 55 to release the equity in their homes, but still allowing them to live there for as long as they wish.

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Equity release schemes allow you to release tax-free cash from your home to boost your finances in retirement. The two main types of equity release schemes are lifetime mortgages and home reversion plans, with drawdown plans and home income plans also available.

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Equity release is becoming an important part of retirement planning – it can be used to make your retirement more comfortable, and to open up exciting new possibilities.

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Equity release is a way of getting cash from the value of your home (without having to move out) by borrowing on it or selling all or part of it for a regular income or a lump sum. These schemes can be helpful in certain circumstances but are not suitable for everyone.

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