Discover if unlocking tax-free cash could be right for you this New Year
At the start of the year, many people like to get their finances in order so they can make plans for the year ahead.
Equity release offers homeowners aged 55 and over the opportunity to access a percentage of their property value as tax-free cash while still living in their home. With the most popular form of equity release, a lifetime mortgage, you also continue to own 100 per cent of the home you love.
One of the main benefits of equity release for many people is that you can choose to access the money as a lump sum or in smaller instalments over time, and you’re not required to make any monthly repayments if you don’t wish to. Make your retirement more comfortable
You could use equity release to plug a gap in your pension savings as you approach, or are already enjoying, your retirement. Once any existing mortgage is repaid, which is a condition of equity release, the money is yours to enjoy spending. Any money released, plus accrued interest, would be repaid when you die or move into long-term care.
Get expert impartial advice
It’s important that you understand what equity release could mean for you. The Mail Finance equity release service can provide you with a free personalised quotation which outlines the features and risks so that you’re fully informed. For example, equity release could affect potential inheritance and your entitlement to means-tested benefits now or in the future.
Equity release may involve a home reversion plan or a lifetime mortgage, which is secured against your property and will reduce the value of your estate and impact funding long-term care. Initial advice is provided for free and without obligation.
Only if you choose to proceed and your case completes would an advice fee of £1,995 be payable. Other lender and solicitor fees may apply.