What do you want this New Year?

It’s a chance for change, but could unlocking cash from your home give you the finances to help?

Anew year offers the opportunity to do all the things you want and need to achieve, but you also need the finances to be able to do them. On average, Key customers were able to release £90,000* of tax-free cash from their homes which was used to better their retirements in all sorts of ways.

According to Key’s data** 67% of people used their tax-free cash for home or garden improvements from future-proofing their homes – such as adding a walk-in shower or stairlift – to making gardens easier to maintain. 34% used their tax-free cash to go on holiday. 29% paid off existing debts. Typically, with a Key lifetime mortgage, there are no monthly repayments as the loan plus roll-up interest is repaid when the plan comes to the end. By eliminating existing debts, you could free up your monthly income, too.

27% gave a financial gift to family, helping children or grandchildren onto the property ladder, assisting with university fees or helping get them on the road.

19% cleared an existing mortgage, while 11% used it simply for help with regular bills so they can have a more comfortable retirement. There are all sorts of reasons that homeowners aged over 55 turn to equity release to help with their finances, but the first question Key Equity Release believe needs answering is whether it’s right for you.

That’s why they offer personalised equity release advice and never charge a fee for it, discussing your options with you including downsizing or using other forms of borrowing.

For more than 20 years, Key have offered jargon-free, no-pressure advice helping their customers enjoy the cash knowing they’ve got the right equity release plan for them. *Key Data Jan-June 2019. **Key Market Monitor July–Sept 2019, Q3