According to a recent survey from moneysupermarket.com, a staggering 24 million people in this country would rather wear an extra layer of clothing than put the heating on. Whilst first thoughts may point to the view that Brits are just looking after their pennies, on closer inspection it may well be the case that many of these 24 million people cannot afford to heat their homes during winter.
If this is the case in your home and you are over the age of 55, equity release is an option that may not only cover your fuel bills for years to come, but will also allow you to afford a more efficient and effective heating system to be installed.
Win the Heating War with Equity Release
A home reversion plan or lifetime mortgage allows the release of enough cash to put towards heating bills as well as investing in initiatives that will save money in the long run such as upgrading boilers and central heating systems or installing a solar hot water heating system.
Equity release could also allow you to leave the country in deepest winter to enjoy more exotic climes.
Equity release schemes allow you to take cash from your home so that it can be spent on anything you wish. Whatever warms your winter, whether it’s turning up the heating, getting a new boiler, insulating the loft, repairing the roof or jetting off to sunnier climes, it’s all possible with equity release.
Equity release may involve a lifetime mortgage or home reversion plan. To understand the features and risks, please ask for a personalised illustration.
Bower is an FCA regulated independent financial advice company that offers specialist advice on equity release throughout the UK. For more information email [email protected] or call 0800 4118668.