Equity Release in Gloucester

For retired homeowners in Gloucester, an equity release policy may be a useful way of freeing up any capital that is locked in away in their home. Customers can also typically free up their money without having to move out of their property at all, making an equity release highly appealing in certain circumstances.


If you are looking for an equity release in Gloucester, please see the link below for a quote on an equity release policy.


These schemes are usually promoted as being useful for older people who have paid off the mortgage on their property, and are also retired. Although the money taken from an equity release can be used for a variety of different purposes, many customers choose to use the money to supplement their pensions when heading into their later years.


Equity release in Gloucester can also be used by landlords who want to use the value of their home to purchase a buy to let property, or by anyone that considers themselves to be ‘property rich but cash poor’ and would like to utilise their assets.

Equity Release Advice 
 

 

There are two main types of equity release available to customers; here is a brief explanation of each:


Home Reversion Plan
Using a home reversion plan, the customer may choose to either sell a portion of or their entire property to a provider in exchange for a cash lump sum.


Although the home is technically ‘sold’ to the provider, the customer can generally continue to live at the property for the rest of their life. Once they are gone, the property is then sold and a share of their assets will go to the provider to cover the cost of the loan.


Lifetime Mortgages
Lifetime mortgages are slightly different, instead of selling the property to the provider; the customer instead takes out a loan with their house used as security.


The end result is the same in that the property will be sold to cover the cost of the loan, but customers can generally only expect a lump sum in terms of a loan, and not a regular income.


If you want to get quotes for equity release in Gloucester just click on the links on this page and fill out the form.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Equity release may affect your entitlement to state benefits and will reduce the value of your estate. It may involve a lifetime mortgage or home reversion plan. All content set out in this website is provided for information only and should not be considered as advice. It is strongly recommended that you seek advice of a qualified, independent financial advisor before making any decisions to take out an equity release product.