Equity Release
Money for right now from the value of your home
Are you short on cash but a have large house and no mortgage? Want to give yourself an income, enjoy some holidays, treat the grandkids, or just pay off the debt you’ve been struggling with? There are several ways of releasing equity from your property to help you now whilst still allowing you to stay in your home for your lifetime.
Equity Release is only available to people over the age of 55.
Equity Release & Lifetime Mortgages will reduce the value of your estate and can affect your eligibility for means tested benefits.
Alexander House Financial Planning advisers can help you understand the implications of equity release — whether you’ll have to pay interest, what happens upon death, if there are any hidden catches, or whether you might be better off just downsizing.
Equity release can include a lifetime mortgage. To understand the features and risks, ask an Alexander House Financial Planning adviser for a personalised illustration.
"Equity release products allow UK homeowners to draw a lump sum and/or regular income payments from the value of their home while continuing to live in it."
Alexander House Financial Planning can help you take advantage of equity release to:
- Improve cash flow and quality of life in retirement
- Pay down outstanding mortgages or credit card debt
- Alter your home so you can continue to age in it independently
- Pay for home help and domiciliary social care
- Enjoy a holiday
You should be aware that whilst there will be no repayments, the interest is rolled up until such time you move into long term care, or you pass away. It's only after either of these two events take place, that the interest is paid back
