Could your home help you in retirement?

An increasing number of over 55s are making their homes work for them in retirement, by tapping into the cash locked in their property.

For millions of senior homeowners the largest and most successful investment is their home, yet many don’t realise they could tap into its value and access taxfree cash. With the average value of a house in the UK more than tripling over the past 20 years*, the key to your financial security could lie in your bricks and mortar.

Benefitting from the financial rewards from rising house prices is usually only possible if you decide to downsize, or sell up for good. However, a lifetime mortgage could allow you to access some of the wealth built up in your property, whilst remaining in your home for as long as you choose.

A lifetime mortgage, the most popular type of equity release plan, is secured against your home just like a traditional mortgage. The cash released is tax-free and there are typically no monthly repayments to make as the loan, plus roll up interest is repaid when the plan comes to an end.

HOW CAN I SPEND THE MONEY?

You can spend the money however you choose; so if you’d like to make home improvements, jet off on an exotic holiday or help out your loved ones, equity release could be the perfect solution. It is even possible to take out equity release if you have an outstanding mortgage, as long as this is cleared when the funds are released.

SAFE HANDS

The Express Equity Release Service is provided by Key Retirement, the UK’s No.1 equity release specialist.

You can feel safe in the knowledge that all of Key Retirements equity release advisers are fully qualified and that all plans are regulated by the Financial Conduct Authority (FCA). Your adviser will take the time to understand your current situation and find the best possible solution for your individual needs and circumstances.

Equity release will reduce the value of your estate and may affect your entitlement to means tested benefits. Due to this, it is vital to understand exactly what taking out an equity release plan means for yourself and your family, both now and in the future. Your adviser will actively encourage you to involve your family in the decision making process.

Unless you decide to go ahead, Keys service is completely free of charge and Keys typical advice fee of 1.95% of the amount released is only payable on completion of a plan. *Nationwide House Price Index, Q2, 2017