Equity Release Loans: Making the Most of Your Retirement

Are you planning to apply for an Equity Release Loan? Before coming to a decision, it would be prudent to fully comprehend what an equity release loan is all about and what are the implications of getting one. You must really be very careful in making your decision since this will greatly affect your financial standing during retirement. It is sensible to ask for advice from reliable and experienced agents regarding equity release. Qualified agents at www.expertequityrelease.co.uk are willing and ready to guide and assist you in your application. These courteous and compassionate agents are sympathetic to your needs. That is why you will be assured that they will be treating you with utmost regard. Your initial consultation will be free and you are not obligated to proceed further with the application. At Expert Equity Release, they will only be recommending the Equity Release Scheme that will be most suitable to your lifestyle and needs. For your security, they will only recommend S.H.I.P. (Safe Home Income Plans) approved plans.

Equity release loan is a way for old homeowners to generate income or lump sum by using their homes. It will unlock the value or equity of your home and be able to spend the money in any way you want. Equity is the value of your property minus the unpaid balance of the mortgage that you secured on it. Equity release is beneficial for people in retirement who want to obtain ways of getting some extra funds to pay off their outstanding debts or to have a monthly income. With an equity release loan, you retain full ownership of your home and you can stay in your home for as long as you want. Monthly repayments are not necessary during your lifetime.

The Equity Release Schemes are as follows: Lifetime Mortgages; Drawdown Plans; and Home Reversion Plans. Lifetime Mortgage is a type of equity release wherein you will receive your tax-free money in lump sum. A Drawdown Plan is almost identical to Lifetime Mortgage except that you will not receive the money in lump sum. You will decide on the maximum amount you want to release and you simply ‘drawdown’ your money in stages. Home Reversion Plan is selling a part or your entire home to a third party. In return, you will receive a tax-free lump sum and you are guaranteed a lifetime lease with no monthly payments to think about.