News about Equity Release

News about Equity Release

Equity release is gaining a lot of publicity at the moment, partly because of its increasing popularity as a method of providing money for older people and partly because of some concerns about effects of taking out an equity release plan like a Lifetime Mortgage.

Many people may have heard about equity release but it’s likely that a large proportion of these people understand the concept of releasing money in their homes – but do not understand the details of how an equity release product works, and the charges they may need to pay.

If you are interested in releasing money from your house, you need to speak with a qualified and accredited consultant in order to fully understand the impact that an equity release product might have on your estate, beneficiaries and finances. There are many product options and these need to be carefully explained to you.

Things to Know about Equity

Equity release is not a low-cost way of releasing money in your home. Whether you choose a Home Reversion Plan, or the more popular Lifetime Mortgage, there will be costs incurred for setting up the plan and a loss of capital through interest accumulation and/or loan terms.