Equity Release.
An increasing number of people on a relatively low fixed income have
a large amount of capital tied up in the family home. This is known
as being "asset rich, income poor". There are a wide variety of
reasons why you may want to release equity from your home.
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You may want to increase your regular income.
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You may need to make an expensive repair to your home.
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You may may need to purchase a new car.
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You may want to take a "holiday of a lifetime"
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You may want to help a family member purchase a home.
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Your family may have a potential Inheritance Tax liability.
There are a number of ways by which you can release some of the equity for any of the above or other reasons. Depending on your circumstances and wishes, some methods are more suitable than others. They can include:
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Downsizing
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Local Authority Grants
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Borrowing from relatives
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Lifetime Mortgagev
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Home Reversion
You need to be aware of the impact on potential state benefits as an
increase in savings or income could reduce your eligibility to means
tested state support.
We can guide you through your options and help you to understand
their advantages, disadvantages, and the impact on your estate.
To understand the features and risks of a Lifetime Mortgage always
ask for a personalised illustration.
