After retirement, from both a financial and individual standpoint, achieving a comfortable retirement is a process that requires good planning and many years of saving. For anyone who retires with insufficient pension, they will hardly find any solution out there. This is when equity release can be the best solution to generate income.
An increasing number of elderly people are now opting for equity release schemes due to the many advantages it offers. Equity release allows individuals to free up a considerable value locked in their property. By opting for equity release, retired people can easily improve their standard of living.
Who is eligible for equity release schemes?
Retired individuals over 55 years of age are the best candidate for equity release schemes. If you are looking for an extra source of income after retirement, equity release can help you unlock the value of your home while still residing in. When opting for equity release scheme, you must ensure that you know all the facts and information related to it.
Home reversion and lifetime mortgages are two options you can go for. Lifetime mortgages are appropriate for the ones who have already passed retirement age and unable to raise capital via other sources. Presently, lifetime mortgages are one of the popular equity release schemes that help individuals access the amount of money from the value of their home in the form of mortgage.
When looking for the best means to generate income during your old age, equity release schemes could be the best option to go for. However, you should always seek independent equity release advice & this is where Equity Release supermarket & its team of specialist advisers can provide free assistance & advice.
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