Can I Repay Equity Release Early? Early Repayment Charges
You can repay equity release early, the most popular plans being lifetime mortgages, but depending upon the lender, the type of plan and when it started, early repayment charges could apply. These may be onerous, making it unrealistic to get out of equity release early. That said, many new plans now offer fixed-term early repayment charges, making early repayment both practical and achievable. […]...
Do you have to pay tax on equity release?
No, you don’t pay tax on equity release. The money you receive is tax free, but what you do with your money may be subject to tax. For example, if you don’t use...
Equity Release for Leasehold Properties
More house owners are looking at equity release plans to free up funds from their properties for a variety of reasons. These may range from helping family membe...
All You Need To Know About The Halifax Retirement Home Plan
Ever wondered what you will do after retirement? Taking a cruise around the world, completing those home improvements you always intended to make or enjoy helpi...
Can you have lodgers or tenants on an equity release property?
With equity release, a fast-growing product in the mortgage industry, there are several issues which homeowners seeking equity release plans for comparison need...
How Can I Help My Children Buy Their First House?
With research showing that UK Millennials now need 13 times their annual salary to buy a home in the nation’s capital, increasing numbers of first-time buyers a...
How Long Does Equity Release Take?
Equity release usually takes from between just 4-6 weeks, though at Equity Release Supermarket, we have cases where the whole process has been completed in just...
Can You Take Out Equity Release With A Power of Attorney?
The simple answer to this question is YES. However, there needs to be an understanding of what type of Power Of Attorney (POA) is in force, when it was taken...
How To Fund The Purchase Of A New Property With An Equity Release Scheme
The advantages of equity release being used to raise capital from property have been widely advertised. It is commonly known that their uses have been to enhanc...
Equity Release – Can it Be Used As a Means Of Bridging Finance?
The industry definition of an equity release scheme is an over 55’s mortgage, albeit with no monthly repayments & finally settled on death or moving into long t...