The Equity Release Hub

Contents What Are The Interest Rates You'll Need To Pay On Equity Release? Equity release is such a popular way to loan money nowadays, especially with its low-interest rates. But what exactly are the costs ? We've laid it all out. What's Equity Release? Equity release  is the act of accessing the wealth held up in your home. You can take out a long-term property-based loan (also called a later life loan). You'll only repay it thoroughly once you have passed away or moved into a permanent care facility. Tip: Regarding all equity release schemes, you don't need to worry about what will occur to your partner after you're no longer around. The property only gets sold once the last person passes on or goes into long-term care with couples. Now: Whether you release a lump-sum or smaller instalments (otherwise called a drawdown), the cash you unlock remains tax-free. Why? Because when y

Contents Is Equity Release A Big Bad Wolf? It's safe to say that equity release isn't the big bad wolf that'll blow your house down anymore. Thanks to all the safety features that come with equity release, it's an excellent way to loan money nowadays. How Safe Is Equity Release? During the 1980s - early 1990s, equity release schemes had a bad name. It was due to increased corruption in the industry. Deceitful lenders were undertaking expensive deals, causing homeowners to owe more than the value of their homes. Not to worry! The result was something positive, as industry regulations became more strict. The Financial Conduct Authority (FCA) helped improve equity release processes with their regulations and customer protection policies. Equity release is now so much safer than before. Most providers are also members of the ERC ( Equity Release Council ), the trade body setting standards and best customs and procedures for equity releas

There are so many benefits to property equity release —one of them being to fund or boost a sustainable, luxurious retirement. We've put together a list of advantages just for you. Contents 3 Reasons Equity Release Might Be The Good Thing Property prices have skyrocketed and being a homeowner gives you excellent financing options. Think about it: You can now unlock any equity or money that's tied up in your home or property, but you don't have to sell it or downsize to a smaller, cheaper house. Astoundingly, roughly every 12 minutes, someone takes out an equity release plan in the UK. Get That Deserved Retirement Life expectancy has strengthened. People are more focused on healthy living, and life expectancy has risen to 81 years. It used to be 74. Let me tell you this... Retirement is very exciting for most people, but it's also potentially one of the most challenging chapters of a person's life with finances. Simply: Relea

Contents Stay Away From These Equity Release Providers First, know everything about an equity release company before signing a contract with them and taking out a plan. Otherwise, you may be in trouble later in your life. This article will tell you the good and the bad of companies you should know. What's Equity Release? Simply: Equity release is the value tied up in the property that lets you access your money. However, you only become eligible once you’re 55 years or older. Then you can access the capital value of your house as income. Of course, you’ll need to pay that money back at a later stage. Better yet: It’s such a great way to get quick cash access  when you need it, with little interest to pay. (It’s at an all-time low of 2.25%.) What Should You Know About The Types Of Equity Release? Below, we outline the two types of equity release available: A Lifetime Mortgage This form of equity release lets you take out a mortgage on y

Have you already taken out an  equity release  plan and would still like to save more money? You can switch or release more. Contents The Possibility of Switching Equity Release Plan? Interest rates have shown some stability lately as new financial products are becoming available all the time. Therefore, it is right for you to keep exploring the market for more profitable, better deals which could save you money. For people that are already engaged in an equity release plan, their most common concern remains whether they can switch from one scheme to another with ease. Equity release mortgage is no longer a one-off transaction anymore, and older equity release customers must realise the fact that they can switch their current equity release scheme to a more competitive plan. Thinking of Switching Equity Release Mortgages? Switch to a more competitive equity rel

Contents 12 Practical Uses for Home Equity Release Older homeowners live to see the value of their estates multiply, and they earn thousands in tax-free money from each of their estates, making their estate wealth soar to record highs. With this in mind, you can imagine why  equity release  has risen to become the most popular retirement financial plan for many. Whilst some may still opt to downsize, it usually presents a challenge when it requires you to move away from your family. Equity release enables you, as a proprietor, if you are 55 and above, to borrow funds against the value of your home and repay it when you die or move into a care unit. The most popular equity release examples include  lifetime mortgages  and home reversion plans. These schemes offer a lifeline too many with debts or shortfalls in your pension income. What Can Equity Release Be Used For? This article will provide you with 12 of the most practica

Contents Equity Release Frequently Asked Questions Daily, people ask our adviser’s lots of important and exciting questions about  equity release . We’ve therefore compiled a comprehensive list of the most frequently asked questions that we’d like to share with you below. Can I take out equity release on a property with a trust registered to it? No, you cannot. The lender will have to agree to leave the trust in place (and we currently lack any knowledge of any lenders who can), You must wind up the trust before you can complete the equity release. The rules of a trust assert that all equity in a trust must go to the sole beneficiaries. The nature of equity release mortgages makes it necessary for lenders to require property free from preventatives such as trusts and loans secure before you complete the process. Perhaps your property has a trust registered in it. We recommend you get independent and