The UK is still recovering from the effects of a particularly nasty recession, and with economic turmoil comes receding confidence. However, for people who have bought their own homes, there could be a solution right in front of their eyes. Equity release allows them to use the value of their homes to their financial advantage.
Lifetime Mortgages and Home Reversion Plans
A lifetime mortgage is a good example of what they can do, as is a home reversion plan. Since the mortgage boom of the 1980s, thousands, if not millions, of purchasers have paid off their debts and are living in a fully paid for property. An increasing number of them are seeking equity release advice at the moment, in an attempt to make life easier, just at a time when they deserve it most.
It’s a sad fact that many people do nothing with the value of their equity, preferring instead to continue to scrimp and save on things without really needing to just because they think they should be ‘passing it on’. After decades of keeping within budget to pay the mortgage, it seems a shame they don’t cash in on the good financial sense they’ve employed in the past.
Equity release can really make a difference to life in retirement. Take independent financial advice today from an equity release specialist and find out how you could change your life for the better.
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.