New research shows that people over the age of 55 are increasingly choosing to release equity in their homes to release funds for purchases like luxury holidays. We are seeing equity release loans taken out in the UK more than doubled during a ten-year period.
Are you looking to take the holiday of a lifetime while you still can ? If you’d prefer to not use unsecured debt or savings, chat with us today about equity release and lifetime mortgages.
Equity release allows homeowners to borrow cash against money tied up in their properties, with the loan amount plus interest, including any roll-up interest, being repaid when they die or move into a care home. The remainder of the equity is typically then either spent on care home fees or inherited by family in the event they pass away.
The research suggests that more people are turning to the equity in their homes to fund once-in-a-lifetime trips. As well as paying for improvements to their properties, or to help loved ones purchase their first home. Are you considering any of these? Could we help you secure an equity release?
A common reason for equity release is taking that dream holiday you’ve always wanted to tak e. But we also see equity release for our clients who want to maintain the quality of life they enjoyed during their working lives. Plus, release funds to adapt their homes for their increasing special needs as they grow older.
Do you need some advice or more equity release news? Give us a call today and we can go through all the details with you!
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.
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