If you are aged over
60 and you own your home you could be eligible for a range of financial
products which release the equity tied up in your home as a tax free cash lump
sum, a guaranteed income for life, or a combination of both of these.
Furthermore, most of
these plans require no repayment of the capital until your home is sold after
your death or permanently moving out of your home.
schemes may work out more expensive than alternatives such as downsizing to a
smaller property. We will therefore
carry out a detailed examination of your personal and financial circumstances
before making any recommendation.
Equity Release can
affect eligibility for State Benefits and grants. We will ensure that you will not unknowingly
lose your entitlement.
involves selling or borrowing against your home. It may effect your eligibility to move home and
the amount of any inheritance you may leave so good advice is essential.