Equity Release in Leeds
Compare Equity Release Options in Leeds
As your retirement nears, you could have concerns about how to ensure that you have enough income to make sure that you really enjoy your retirement. One option that you may like to consider is an equity release scheme, which could allow you to access funds that may be tied up in your property. There is an easy way of getting equity release quotes quickly today, simply follow the link below and take a minute or two to fill out the form.
If you are interested in equity release in Leeds, you could be able to choose from the following two options:
This would involve you taking out a loan against the value of your house, whilst still owning your property up until either your death or until you move into a care home. After this, your property would be sold, with the proceeds of this sale being used to repay the loan.
Home reversion plan
You would sell a part of or your entire home to a reversion company, meaning that you would no longer fully own your property. You would be able to live in your property as a tenant until you either die or permanently move in to a care home. Following this, your home would be sold by the reversion company, with them taking their share from the proceeds.
Using the past experience of the many people that have utilised equity release in Leeds, we can see that it might have the following advantages and disadvantages:
- You could access extra money to enjoy your retirement
- Allows you to stay in your property without having to ‘downsize’
- The value of your estate could be significantly reduced
- You are likely to have to pay arrangement fees, valuation fees and legal fees
- You may not receive the full market value of your property.
Equity release is an important financial commitment that should be carefully considered as most plans cannot be reversed.
We could help you to find competitive equity release quotes in Leeds – please follow the links on this page for further information.