Equity Release in Dorset
If you are looking for competitive quotes for equity release in Dorset it is probably safe to assume that you have done your research, looked at the possible alternatives and have decided that selling part of your home is the best way to utilise your assets.
All equity release plans in Dorset, just like the rest of the country, differ in the details, so make sure that you look through any deal thoroughly before agreeing to it. Some policies will require you to pay rent to live in your property while others won’t, some deals will allow you to take out an annuity while others will not allow this.
Please see the link below if you are looking for an equity release quote in Dorset or the surrounding area.
If you are looking for an equity release in Dorset, there are two main types of policy that should be considered:
A lifetime mortgage allows customers to take out a loan from a provider with their property used as security. The idea being that one the policy holder passes on, the provider will then take a portion of the capital from their sold home to pay for the cost of the initial loan.
These agreements generally allow customers to live in their home for as long as they wish once a policy has been taken out, making them a very appealing prospect for many people.
Home Reversion Plans
Home reversion plans are very similar to lifetime mortgages, except that the customer ‘sells off’ either a share or all of their property to a provider in exchange for a loan. Unlike lifetime mortgages, customers may be expected to pay the provider rent, depending on the policy that is selected.
Click on the links on this page to get a competitive equity release quote today.