Eq­uity Re­lease

Dis­cover how you could make your big­gest as­set work for you now

Daily Mail - - Mail Finance -

If you are in or ap­proach­ing re­tire­ment and are wor­ried you will not be able to achieve the life­style you’d hoped for af­ter giv­ing up work, help could be closer than you think. Fi­nan­cial wor­ries in re­tire­ment

You may have been a mod­est saver over the years and have a rea­son­able income to cover the day-to-day liv­ing costs, but what about the large one off ex­penses? Maybe you would like to make al­ter­ations to your house or want to take hol­i­days and see more of the world now that you finally have the time? Some peo­ple find them­selves strug­gling with an ex­ist­ing mort­gage or other debt in re­tire­ment. Can you af­ford to keep mak­ing monthly re­pay­ments once you stop work­ing? Fur­ther­more, am­bi­tions such as help­ing a younger rel­a­tive onto the prop­erty lad­der may be com­pletely out of reach.

Find­ing a cash lump sum may seem like an im­pos­si­bil­ity but have you con­sid­ered that your home could pro­vide you with a so­lu­tion?

Your home could help

For mil­lions of home­own­ers their big­gest and most suc­cess­ful in­vest­ment is their home, yet many do not re­alise they could tap into its value and ac­cess tax-free 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 in re­tire­ment could lie in your bricks and mor­tar. While down­siz­ing may be one op­tion, an eq­uity re­lease plan could en­able you to un­lock some of the cash in your home with­out hav­ing to move.

Ac­cess the cash in your home

The most pop­u­lar type of eq­uity re­lease plan is a life­time mort­gage and the tax-free cash re­leased is yours to spend how­ever you like. With a life­time mort­gage, the loan is se­cured against your home and in­ter­est rates can be fixed for life. What is more, there are typ­i­cally no monthly re­pay­ments to make as the loan, plus roll up in­ter­est, is re­paid when the plan comes to an end. So, you can en­joy your re­tire­ment with­out hav­ing to worry how you are go­ing to fund it.

In­de­pen­dent ad­vice is im­por­tant

There are many eq­uity re­lease plans on the market so it is im­por­tant to seek im­par­tial ex­pert ad­vice. Mail Fi­nance has part­nered with Key Re­tire­ment, the UK’s No.1 in­de­pen­dent eq­uity re­lease spe­cial­ist. Take ad­van­tage of a free noobli­ga­tion con­sul­ta­tion in the com­fort of your own home. Your lo­cal ad­viser will get to know you and dis­cuss any al­ter­na­tive op­tions – if eq­uity re­lease is not right for you, they will tell you. Un­less you de­cide to go ahead, Key’s ser­vice is com­pletely free of charge, as Key’s typ­i­cal ad­vice fee of 1.95% of the amount re­leased would only be payable on com­ple­tion of a plan. Think care­fully be­fore se­cur­ing a loan against your prop­erty.

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