Should you use equity release to pay off your mortgage? Are your repayments stopping you from saving more for retirement?
Using the equity in the property can secure a comfortable retirement. You are essentially taking value from your house to pay off the mortgage. And if you plan on staying in the house for a while longer. Or house prices have gone up a lot since you brought. The house sale will cover the equity loan only after you pass away or move into care.
Imagine the possibility of retiring early or working fewer hours. All while keeping your beloved home. Equity release could make this dream a reality.
Your mortgage must be repaid in full as part of the process. But once this is completed. You may be able to release more to ensure you get the most out of your retirement.
Rest assured, we're here to guide you. We'll walk you through all the advantages and potential drawbacks of equity release. Ensuring you make an informed decision.
Some elements to consider. Generally, you must be over 55 years old to secure equity release. Taking out equity is a loan against your home’s value. Because of this it may affect your inheritance. It’s important to weigh all the options and chat with your family.
You can only receive equity release through a provider. We are obligated to give advice you can trust and we can look across the whole market to find the perfect product for you. Contact us today for more information.
SPEAK TO AN ADVISER
This is a lifetime mortgage. To understand the features and risks, please ask for a personalised illustration. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice. A fee may be charged for mortgage advice. The exact amount will depend on your circumstances.