The guide to using equity release to unlock property wealth
Using property wealth to boost your finances
When you think of Disney, it’s probably the films that first come to mind, followed by the theme parks but from cruiselines to merchandise and streaming platforms, the company has diversified its business operations to ensure success even if one area starts to underform and you can do this too. Simply book a free consultation and let our advisors offer independent help and advice.
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Each equity release provider will set their own criteria. However, to be eligible, you’ll usually need to be aged at least 55 and the property must be your main home. Your age and the value of your home will affect the amount you can release.
There are several different types of equity release. The most common is a “lifetime mortgage”.
A lifetime mortgage is similar to a loan secured against your home. However, rather than making regular repayments, the amount you owe, along with any interest accrued, is usually rolled up. The debt will be paid when you move into long-term care or pass away.
As a result, a lifetime mortgage could be a useful way to boost your finances now without increasing your regular expenses. You can receive the money you release as a one-off lump sum or regular smaller payments or a mixture of the two.
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