The Facts:

Daily Mail - - Mail Finance -

1 Eq­uity re­lease is avail­able to those aged be­tween 55-95, who own a prop­erty worth at least £70,000

2 You can have an ex­ist­ing mort­gage. The money you re­lease can be used to pay this off first

3 With a life­time mort­gage, you still own your home and you can live there as long as you want to

4 If leav­ing a guar­an­teed in­her­i­tance for your fam­ily is im­por­tant to you, there are plans that al­low you to do this

5 You can move home with Eq­uity Re­lease Coun­cil ap­proved plans, sub­ject to cri­te­ria

6 Eq­uity re­lease is reg­u­lated by the Fi­nan­cial Con­duct Author­ity. Key Re­tire­ment ad­vise on plans ap­proved by the Eq­uity Re­lease Coun­cil

7 You will never owe more than the value of your home with plans ap­proved by the Eq­uity Re­lease Coun­cil

8 Added peace of mind as your so­lic­i­tor will be in­volved to en­sure you un­der­stand the le­gal el­e­ments

9 Eq­uity re­lease will re­duce the value of your es­tate and may af­fect your en­ti­tle­ment to means-tested ben­e­fits

10 With a life­time mort­gage, in­ter­est rates can be fixed for life

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