Equity release schemes are now one of the most popular post retirement products purchased by most of the retirees in the UK. Buying an equity release scheme helps retirees get some of the cash value of the equity held in their home. Additionally, they can remain living there without losing their right to live in their home as long as they are alive. The market is full of a wide range of equity release schemes launched by different financial service providers; see http://equityreleasesupermarket.com.
Nowadays, retirement magazines are considered a primary source of information by a large group of prospective buyers who are planning to buy an equity release scheme. Most of the retirement magazines such as Saga magazine, Over 55, and others are now discussing more frequently the topic of equity release. These magazines have become the mainstream magazines for the retired population, although the growth of Internet has opened some more avenues that are now gaining acceptance amongst the prospective buyers. The growing market of Internet and online businesses has given birth to several retirement websites who are now providing good support on the subject matter of equity release.
Equity Release Supermarket is one of those retirement websites that is loaded with lots of useful and trusted information. The website of Equity Release Supermarket can be accessed by anyone by visiting the URL as follows - http://equityreleasesupermarket.com and then browsing through their wealth of informative pages. The quality of information helps the prospective buyers in framing their decision, so that they can buy the most suitable equity release that meets all their individual requirements.
The http://equityreleasesupermarket.com website isn’t just only offering information but is also loaded with a number of analysis tools such as equity release calculators, quote requests and the latest equity release interest rates. The consumers are then well equipped to do their own calculative analysis about the amount that can be released from their property. You can even study the pros and cons as well as the salient features of all the equity release schemes mentioned side by side.
To discover some of the different information you might find on these sites regarding equity release schemes keep reading.
Lifetime mortgages as equity release plans
Lifetime mortgages are just one of the products you will discover online or in the magazines. While products might vary in what they offer and how they are made available there are certainly some mainstays in the lifetime mortgage category.
Roll-up has undergone quite a few names from lifetime mortgage to the current roll-up lifetime mortgage name. It is the basic plan for which all lifetime mortgages begin. You then have drawdown lifetime mortgages, which are similar but different. In one you get a large lump sum; in the other you receive a small lump sum and then drawdown more as you need it. Interest is charged with both products. Your comparison point in magazines and online will be with the amount of interest charged and how it is charged for the lifetime of the loan.
The next option is enhanced lifetime mortgage. This is everything the roll up choice is except it is for those who are ill. Sounds cold, but in reality there are many retirees who have illnesses from obesity to severe life threatening diseases like cancer. Instead of waiting until death occurs, the person can take out a very large lump sum, larger than the roll-up will provide.
Another choice is the fixed lifetime mortgage. Like the roll-up it accrues interest, but the interest rate is fixed. It is a product that has been on the market a while.
The last lifetime mortgage is the interest only lifetime mortgage. It differs in that you have a monthly payment. To get specifics on this mortgage seek magazine and website details.
This is a completely different option to lifetime mortgages, but they also allow for equity release. In this plan you sell your home or a bit of your home. It is not a loan and does not have an interest as part of its setup, which makes it ideal for some consumers.
Retirement magazines as well as retirement websites offer a wealth of information on equity release schemes, although retirement websites are taking a leap ahead. The use of technology helps these websites to broadcast the latest information even before it reaches the publication house. Moreover, the access to these retirement websites like http://equityreleasesupermarket.com is absolutely free of cost. Not so for magazines, but at least you can read these at your leisure in the garden or whenever else time allows during your retirement years!
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