Compare Equity Release Plans

If you are considering releasing some of the equity in the value of your home, then it is imperative to get advice and to compare equity release plans before you decide if equity release is suitable for you and if so, which plan is best.

Equity release plans can vary in several ways; for example, you can either take out a lifetime mortgage whereby you borrow capital which is paid back with interest when your home is finally sold on your death. Alternatively, a home reversion plan involves selling a proportion of your home to a home reversion company who will then receive a proportion of the proceeds when the house is sold. Other features of equity release plans include:

Boosting your retirement income
Your family will inherit the remaining value of your home
Retaining ownership of your home
The cash released is tax-free
You must be 55 years of age or older

If you are thinking about equity release, not only is it important to compare equity release plans, but it is also vital that you compare equity release interest rates too, because they can vary from one lender to another. Fill out our short form and an advisor will contact you who will help you to compare equity release plans and choose the one that is most suitable for your circumstances.

Lifetime mortgages as from October 2004 are regulated by the Financial Services Authority. A lifetime mortgage is a loan secured on your home. The loan and interest are normally repaid from the proceeds of the sale of your home when you die or move into long term care. With a home reversion plan you sell all or part of your home for cash. However you do not get the full market return for doing so.

The above equity release mortgage detail is for information purposes only as does not constitute financial advice under the Financial Services and Markets Act 2000. When considering any type of equity release product, it is important that you seek independent legal advice.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.