Why property owners should request an equity release guide

Equity release is one of the most popular trends in the property market in the UK, and its boom in recent years has shown no signs of slowing down. The standard definition of equity release for someone over the age of 55 to be able to release cash from a property that you own, whether that is a family home such as the main residence, or holiday home. You must have little or no mortgage on the property in order to qualify for equity release & if there is, it must be repaid upon completion of the equity release scheme.

In order to make the initial research into equity release schemes, you should engage with an which has plenty of information on offer to help everyone learn about the benefits and advantages of equity release. Take a look at how equity release schemes work below and whether it can fit into your lifestyle as you get older:

• Lifetime mortgages: These are considered some of the most popular types of equity release schemes because they are simple. What happens if you take out a secured loan against your house which allows you to get liquidity out of your home. Lifetime mortgages are available to people over the age of 55 and it is the perfect way for people who have worked hard their whole lives in the UK to get something back for themselves. If you fall into this bracket, you can use these types of mortgages to help your children pay for themselves to get onto the corporate ladder or you can use it enhance your lifestyle with home improvements or holidays.
• Drawdown lifetime mortgage: This equity release scheme is a little bit different in that you can get a tax free lump sum but you still own your house outright. This is bound to be good news for people who are trying their best to find ways of taking cash without expensive loan options. Keeping your home especially if it is a family home is something that people need to look at as a legitimate option because it is going to be incredibly difficult to find an equity release scheme that is better than this.
• Top tip: Always read information online or from your financial adviser when you are researching what kind of equity release scheme sounds like it could be right for you. Because equity release schemes are mainly for the over 55’s this means you also have plenty of time to plan which scheme you want for yourself. So conduct your research first, before making any financial decision & with the plethora of online equity release guides, there is no shortage of information available.

So for an equity release free guide to be found, you need to source the range of equity release websites on the internet. However, always be careful that the equity release free guide isn’t an equity release brokers trick to capture your personal information. You can either request the details by downloading an equity release guide or the better companies can post an equity release free guide to your home address.

Additionally, the Equity Release Council has a directory of eligible equity release brokerages which are members of this trade body representing the equity release lenders, advisers & legal firms and usually these firms have a free guide of their own. Being impartial they can send you free information or have a website that also offers subject matter on equity release schemes which is a useful guide in itself. Alternatively, call them on to request your free guide to equity release.