Are you living in the UK? Are you in your retirement period? Do you own a property? Do you need an extra source of income? If your answer to the above questions is yes, then equity release uk is the solution that you have been looking for. You might be wondering to yourself what equity release is. Equity release is a way of releasing equity from your property.

Equity release schemes provide a number of benefits. One of the main advantages is that you are able to obtain a loan against your property or you are able to sell your property or a part of your property for income without having to move out of your property. You are given the opportunity to remain in your home even after you have released money from your home.

Another advantage of equity release schemes is that the money that is released from your property is tax free. You will not have to pay any taxes from the money that is initially released from your property. However, if you use the money released from the property to generate additional income, the additional income will be taxable. Only the initial income released from the property is not taxable. (more...)

Due to the constant rise in living costs, the retirement funds of some pensioners are no longer sufficient for them to meet their daily living costs and still be able to enjoy their retirement. In such cases, many pensioners are looking for another way to gain extra income that will make it possible for them to adequately meet all of their daily living costs and have sufficient funds to enjoy their retirement.

This is now possible with equity release schemes . The fact is that most pensioners own their own property and have capital locked up in their property. Equity release schemes make it possible for pensioners to release locked up capital from their property. So even though most pensioners are rich in that they have thousands of dollars locked up in their property, they have a cash-flow deficiency which no longer makes their golden days golden.

Many pensioners own a large property which they no longer need once they have become of age. However, they need a stable cash-flow. Some pensioners sell their property and move into a smaller property. Some pensioners cannot dare to leave their property due to sentimental value. In such cases, equity release schemes allow pensioners to sell their property or a part of it with the option of being able to remain in their property for the remaining part of their lives. For those who do not want to immediately sell their property, they are able to take a loan that is secured by their property without having to repay the loan while they are still alive. (more...)

Equity release is an option available to home owners as a way to get money out of their property. It can be seen as another source of income. Equity release is only offered to people who are at least fifty-five years. There are many ways in which the money receive from equity release can be used. Let’s take a look at some of the most common uses of the money received from equity release.

Some pensioners have large outstanding debts that become difficult for them to repay in their retirement period. Instead of using their retirement funds to finance their daily needs and to enjoy their retirement, they normally have to take it to repay their debts. With equity release, they are able to repay their debts thus allowing them to use the money that they have to enjoy their retirement.

Some pensioners are still busy paying off a mortgage on their property. They might need to use their retirement funds to make monthly mortgage payments. Equity release normally pays off an existing mortgage on a property thus resulting in no more monthly mortgage payments. (more...)

You might have heard of equity release. What is equity release ? This is a question that might have popped up in your mind several times.

Simply put, equity release is a way of releasing tied up cash from your property without having to make any monthly repayments. This sounds appealing right? It gets better.

There are many different types of equity release schemes. The home reversion plan is one of the most common types of equity release schemes. This equity release plan allows your property or a part of your property to be sold. You can choose for an immediate cash amount or you can choose for a monthly amount which you will receive for the rest of your life. Even better, you are able to remain in your home. Normally, when you sell your property or a part of it, you need to move out of your property. This is not the case with the home reversion plan. You are allowed to remain in your home until the death of you and your partner or until you both choose to enter into long term care. (more...)

An interest only lifetime mortgage is a mortgage that lasts for your lifetime but is only available to people of a certain age. In most cases, it is only available to people who are fifty-five years and above. An interest only lifetime mortgage can be applied for by one person or by more than one person. In cases of a jointly owned interest only lifetime mortgage, the mortgage is valid until all parties have died.

An interest only lifetime mortgage is similar to a normal mortgage in that the loan is taken against the property. However, there is no monthly repayment of the initial loan amount. The initial loan amount is repaid by selling the property which normally takes place when the owner or owners of the interest only lifetime mortgage die or move into long term care. The interest however is repaid on a monthly basis. This is why it is known as an interest only lifetime mortgage. It is a mortgage that lasts for a lifetime and requires only a monthly payment of the interest only.

The advantage of taking an interest only lifetime mortgage is that people in retirement who are in need of an additional source of income can remain in their property while releasing cash from it. This money can be used for other purposes. (more...)