Where suitable, Equity Release enables those 55 and over to access the money tied up in your property without having to move out of your current home. This is key considering that many Baby-Boomers are unable to pay off their interest-only mortgages when the term expires.
Where Equity Release may be able to help you and your family
Given the value of the housing market of late, you may wish to gift monies to your family to aid them getting on or climbing the property ladder. The key difference should you choose to gift monies to family members is that you will be there to see the enjoyment it may bring, rather than them receiving the money as inheritance once you have passed away. Although in recent years, there has been a significant increase in Equity Release in The UK, with more than one in four retired homeowners giving money to family and friends, we have been advising on the workings of Equity Release for over 15 years.
Buying a Second Property
Equity Release could enable you to purchase your dream second property either in the UK or abroad through the use of Equity Release thanks to the release of capital in the main residence.
If you would like to see if Equity Release is suitable for you then please, get in touch.