Find financial peace of mind in later life EQUITY RELEASE SERVICE

Finding extra cash in retirement could help you take control of your finances

f you’re finding that your finances in

I retirement are a juggling act, you’re not alone. A drop in income, smaller pension pots and the rising cost of living, can mean stretching your savings even further making the prospect of a comfortable retirement seem out of reach. But how can you find extra cash in retirement and take back control?

One popular solution to help boost your retirement finances could be releasing tax–free cash tied up in your home with a lifetime mortgage, the most popular type of equity release. Ensuring you have enough not only for your monthly outgoings, but also to do the things you love, you could enjoy peace of mind and the retirement you deserve. The products available now offer more choice and flexibility than ever, putting you in control.

For example, some homeowners opt to take a lifetime mortgage on a drawdown basis. Say you agree a £60,000 total facility, and you release an initial lump sum of £10,000 - the rest of the funds can be accessed as and when they’re needed. And interest only accrues on the funds that have been released. A great way to provide yourself with financial security should you need cash in the future.

Most people choose not to make repayments, freeing up their income to spend how they choose. Typically there are no monthly repayments to make as the loan plus roll up interest is repaid when the plan comes to an end. However, if you wanted to, there are some plans that allow you to make ad-hoc repayments. This helps manage the size of the loan on which interest is charged. It’s voluntary and you can stop at any time – it’s up to you.

When it comes to finding financial peace of mind in later life, understanding your options is crucial. Find out more by ordering your FREE Yours guide to equity release today. *Most Key Equity Release customers have received a fixed annual interest rate of 3.79% or lower. The overall cost for comparison is 3.97% APR. Lowest available rate correct as of 5 January 2021. All other stated rates correct as of 5 January 2021. Interest rate received and plan features are subject to eligibility. Ask for a personal illustration.