Nearly everybody who approaches retirement does so with a certain degree of worry. Whilst many look forward to living out their twilight years at a slower pace, some worry that financially they may not be able to cope. For this reason equity release schemes are just as popular now as they have ever been, and combined with sound independent financial advice, in retirement many homeowners benefit from releasing equity from their homes.
The funds released from the home can be spent on anything — from a holiday to a new car and also on general day to day living expenses. Whatever the reasons are for releasing equity, a home reversion plan or lifetime mortgage can make a big difference to those over 55s who are struggling with the financial implications of retirement, or who just want to make it more enjoyable.
Although there are a few requirements for homeowners to meet, the process is relatively straightforward when managed by a specialist equity release adviser, who can get the best deal at the best price for those eager to release funds from their home and will ensure it is the right course of action after investigating all the alternatives.
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.