• How can I use my Property to Supplement my Pension?

    By Equity Release Supermarket Team on

    Over the next ten years, it’s estimated that 7.7 million workers1 will retire. And while many will be anticipating a well-earned end to their working life, there will also be those left worrying about funding their golden years. One of the reasons for this is that the ‘pension mountain’2 has grown by three quarters since 2002, and the average earner now needs an extra £9,000 a year in private pension income to have a comfortable retirement. More worrying still, the implications could be even…

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  • Can I Use Equity Release to Buy a Second Home?

    By Equity Release Supermarket Team on

    Buying a second property is something many of us dream about. Whether it means family days by the beach or having another asset to leave to your children, having a second base is something many families aspire to. It’s perhaps for this reason that some people are using an equity release scheme to buy a second home. An equity release scheme allows those aged 55 and over to either borrow against their main residence, or they can use an equity release scheme to help part-fund the purchase their new second home property. As older people find it difficult to remortgage or…

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  • What is Compound Interest and how does it work with an Equity Release Plan?

    By Equity Release Supermarket Team on

    One of the many questions asked by those thinking of taking out a lifetime mortgage is how much will it ultimately cost? It’s a question we get asked a lot here at Equity Release Supermarket – so we thought it best to clear things up. Whilst calculating the maximum amount of money you can borrow from your property is relatively straight-forward, calculating what’s known as ’compound interest’ is slightly more complex. But don’t worry, this isn’t anywhere near as scary as it sounds. In this article, we’re going to explain how interest is calculated on a lifetime mortgage (the most popular…

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