• Releasing equity for home improvements

    By Carrie Ann on

    Most families across the country are opting to make home improvements rather than pay expensive house prices, stamp duty and moving costs. Instead of moving house, more people are improving their existing home, creating a better quality of living and increasing the value of their property at the same time. Releasing equity is a popular option for over 55s seeking to fund home improvements. The amount you can expect to borrow is based on your age. The younger you are, the lower the size of equity release. Conversely, as you get older, the maximum equity release increases by approximately 1%…

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  • Home reversion equity release

    By Carrie Ann on

    Home reversion is a type of equity release plan, whereby you are able to sell a percentage of your property, or all of it, to a specialist home reversion provider. In exchange for selling part, or all of your property, you will then either receive regular payments from that provider, or a tax-free lump sum, or even a combination of both. Generally, you can realistically expect to get around 20%-60% of the current market value of the property (depending on the percentage you opt to sell). This will depend of your age at the time & potentially the health of the…

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  • What is a Drawdown Lifetime Mortgage?

    By Carrie Ann on

    If you own your own home, it’s your main residence and want to use some of the money locked into it, you may want to consider taking out a lifetime mortgage. As a long-term loan which is secured against your house, a lifetime mortgage has the benefit of allowing you to retain 100% ownership of your property. Drawdown works by the lender initially calculating the maximum you could borrow from them. This is based on your age & property valuation. You then decide how much to initially withdraw from this overall facility. Any unused element is retained by the lender &…

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  • The best equity release calculator

    By Carrie Ann on

    If you are searching for the best equity release calculator, you should look for an equity release tool that offers you realistic options based on your current circumstances. Calculating the maximum amount of equity available to you is a crucial first step in assessing whether equity release is the right choice for you. The calculation results also outline the options available to you, so it’s vital you choose a calculator offering comprehensive results. How do I calculate my maximum equity release amount? The most reliable equity release tool is an equity release calculator that collects your information and feeds it into an…

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  • Using equity release to clear your debts

    By Carrie Ann on

    Most people have an idyllic idea about retirement. It means taking it easy, having the time to do the things you’ve always wanted to, and relaxing, free from the stresses of having to work hard for a living. For many people, however, the reality is not as rosy. Due to a number of different factors, more and more people are now finding they experience financial difficulties when they retire. The number of retirees who still have debts hanging around their necks once they have stopped bringing in a regular wage is growing. How to clear debts is obviously a concern for…

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  • Release and Realise your travel dreams with equity release

    By Carrie Ann on

    Retirement means different things to different people – a chance to see more of the grandchildren, the opportunity to take up new hobbies or revisit old ones, or maybe the time to get your house and garden the way you’ve always wanted them. For many people, though, retirement can offer the chance to travel – to take extended holidays, ticking off those ‘must-visit’ places or achieving experiences on your ‘bucket list’. The thought of taking a relaxing round-the-world cruise, embarking on an exciting African safari, finally achieving that road trip to America you’ve always promised yourself, or seeing far-flung places you’ve…

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  • What is Equity Release?

    By Carrie Ann on

    The term equity release covers a range of products that enable to you release the equity in your home, so long as you’re 55 or older. The equity can be released as a single lump sum, a number of smaller amounts, or a combination of both. The scheme is designed to help older customers who own their house outright or have only a small mortgage to ‘release’ some of the cash tied up in their home There are two ways in which you can release the equity tied up in your house: lifetime mortgages and home reversion. Lifetime mortgages As long as…

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  • How Much Equity Can I Release?

    By Carrie Ann on

    If you are considering how to release equity from the value of your home, the biggest question you will probably want an answer to is, how much can I actually release from my property. You may well have a figure in mind of how much you wish to raise and want to know if that amount is even a possibility. Equity Release Supermarket has an online calculator to help you work out how much your maximum equity release figure will be. In order to confirm whether you can release equity from your property, lenders will take into account a number of…

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  • Is Equity Release Safe

    By Carrie Ann on

    Before deciding whether equity release is right for you, you need to know the facts, and that includes the question: is equity release safe? Often people are worried that they could lose their homes, but equity release schemes from a member of the Equity Release Council guarantee you the right to remain in the property for the rest of your life, so long as you keep to the terms of the mortgage agreement. The trade body, the Equity Release Council, has its own set of regulations to protect you from the potential risks of equity release. The Financial Conduct Authority also…

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