Equity Release in York
Compare Equity Release Options for Homes in York
If you are looking for equity release in York, it is strongly advised that you take the time to carefully consider each equity release deal in terms of how it could suit your individual requirements.
Equity release deals tend to be designed for those who are approaching retirement age and are looking to supplement their retirement income. Equity release generally refers to the freeing up money that is tied up in your property.
If you are interested in obtaining quotes for equity release deals in York, all you need to do is follow the link on this page and fill out the form.
As you look for equity release in York, you may wish to consider both of the following options that could be available to you:
- You would take out a loan on the value of your house
- Your house would remain your property up until your death or you move into a retirement home full-time
- Following this, your property would be sold to repay the loan
Home reversion plan
- This involves you selling your home, or a portion of your home, to a reversion company
- You would no longer fully own your property
- You could live in your property as a tenant up until your death or until you permanently move into a retirement home
- Following this, your home would be sold by the reversion company, with them taking their share from the proceeds.
When looking in to equity release, in York or anywhere else, it is important to consider the potential pros and cons:
- 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.
Please see below for a quick and simple way to get competitive equity release quotes in York.