Equity release has become more popular than ever before with almost 65% increase of people opting into equity release – as stated by the Financial Times . According to the Telegraph, Equity release lending grew by 34% between 2015 and 2016 and the number is on a continued increase currently making equity release the fastest growing mortgage segment. Let’s look at the reasons why people are saying yes to the equity release.
Equity release is a method of releasing money from the value of your home , either as a lump sum or as a new monthly income.The minimum age range is 60 years so if you are 60 and above and have paid off more than 50% of your mortgage, then equity could be perfect for you, because it gives you access to money that could be locked up unto your home without having the troubles of moving home first.
Once you have released your equity you are free to do as you please with your cash- which opens the door for more financial freedom to share with your loved ones.
More and more retired people are now able to help their children and grandchildren with deposits for their homes as a gift which seemed impossible without having the extra cash from their equity release.
‘Many are asset rich but cash poor, meaning they have money tied up in a property with no cash to spend on the life they deserve.’ Retirement should open doors to more choice and opportunities not close them. Equity Release gives home owners more freedom and a choice for a more personalised retirement.
Equity release allows you to unlock the equity in your home and help you enjoy a more comfortable retirement
According to an article by which? 58% of customers use some or all of the cash they have released to improve their home or garden (new kitchen/bathroom/extension/conservatory and so on) Whether you are looking to make some home improvements or you desire more freedom, or perhaps book the holidays you’ve always dreamed of- Equity release could be the answer. Many people within their retirement are now utilising the equity in their homes to live the life they always desired without having to dip into their bank savings.
*To get The loan is recovered only when the property is sold, in the event of death, or if you have moved into long-term care. To get your free Equity release quote chick Here or on the map below
To get your free Equity release quote chick Here or on the map below.