Release Your Equity: UK Financial Aid for Elderly
Do you know what UK equity release is? If not, don’t worry. Equity release allows homeowners who are over 55-years-old to use their home’s value for cash without having to sell their property first.
What does equity release actually mean? – Equity release involves using the value of your house (or part thereof) instead of selling it outright now. With equity release, you can live in your own home while still earning an income from the part of ownership that is given up.
In a nutshell, it allows homeowners to access their property’s value for cash without selling it outright – and this gives them more control over how they spend retirement years.
Some benefits of equity release include that you still own your home, but get money for living expenses.
Equity release is an increasingly popular way to live for retirees who no longer need a large property but still want to stay in their own home and have access to some cash without having to sell it first.
There are two ways you can use equity release: You can either buy an annuity, which pays out a regular payments, or you can get another type of loan for a lump sum of money.
Equity release is not suitable for everyone, but it could be the answer to your retirement problem if you find yourself in one of these situations: you want to pay off debt or help out family members before they inherit and struggle financially too.
Your children can’t afford their education and you want to be able to help them out financially.
You need money for medical care or something else you can’t afford.
If any of these are your situation, then equity release could work well for you and it may provide the solution that solves both your problems in one go!