Popular uses of equity release

Imagine receiving a lump sum of tax-free cash to spend, well equity release can provide you with that opportunity. The only stipulation is that you must repay any outstanding mortgage that you may have. According to leading equity release broker Age Partnership*, here are some of the most popular uses…

PAYING OFF A MORTGAGE

This is the primary reason that people release cash from their home. It is a condition of equity release to do so. This means that every month there is more disposable income to ease the household budget.

HOME AND GARDEN IMPROVEMENTS

The second most popular reason to release equity is to carry out home improvements. After all, once you retire, you will have more time than ever to enjoy your home.

NEW CAR

Buying a new car outright can bring great peace of mind as it does away with some of the problems and unexpected expenses that come with owning an older car.

GIFTS TO FAMILY

More and more of us are releasing money from our homes to give to give a gift or financial help to a loved one.