Equity release is a financial product offered to retired homeowners who require a means of releasing equity to meet their requirements in life. For individuals who depend partly on pensions to meet their financial requirements, equity release may be a considered option to address any income shortfalls that may exist.
This is where new equity release schemes will allow people in their old age to enjoy life without any financial difficulties.
If you are over 55 years of age & looking for a solution to meet your financial needs, you should seriously consider equity release schemes. When planning to opt for equity release, it is worth seeking independent professional advice. Depending on your requirements, these qualified professionals such as Equity Release Supermarket, will be able to help you to get the best deal from the range of lenders at their disposal.
The equity release scheme enables you to get the exact amount you require, dependent upon your age & current assets. The amount that you will get through equity release will depend mainly on the age of the youngest applicant, valuation & the present condition of your property. This is why it is important to keep your property in good condition.
If your home is in an inappropriate condition, lenders may impose conditions on completion. This could range from a retention of some of the release until the specified jobs have been completed. Other lenders may not even proceed to completion until all work has been carried out. Finally, some equity release companies may not even insist works get carried out at all & can be lenient dependent upon the case proposition.
To enjoy a larger sum of money during your retirement, it is important to keep your property maintained. With equity release schemes, you can get the amount as a lump sum, via drawdown or in the form of a monthly pension. If you want to live a luxurious and comfortable life in your old age, an equity release scheme would be an ideal solution to opt for.
To discuss your equity release options, please call Equity Release Supermarket on 0800 678 5159.