People use the cash released for all sorts of things in life. You could use your equity release to:
- Get your home just the way you want it with a brand new kitchen, bathroom or modifications to the layout.
- Enjoy a round-the-world trip, cruise of a lifetime or pay a visit to relatives now living abroad.
- Help out your nearest and dearest with a deposit for their first home or cash to help furnish it.
- Upgrade your car to something larger for taking grandchildren out and about.
- Free up your monthly expenditure by paying off your mortgage or other debts
Our expert partners are available to help you make an informed decision and will tell you straight away if equity release isn’t right for you.
Being independent means they search the whole market to find the best plan for every client.
The benefits of equity release:
Enjoy your money now
Equity release can provide a way to access some of the wealth in your bricks and mortar for you to enjoy today.
No need to move home
With equity release, you could access some of the value tied up in your home without having to move house. There is no need to downsize or go through the stress of relocating just to take advantage of your home’s value.
Any equity you release from your home either as a lump sum or as further ‘draw down’ releases will not incur any capital gains tax or income tax. However, if you put the money into an account or investment, you will then be taxed on any gains.
Maintain an inheritance
If ensuring that you are able to still leave an inheritance to loved ones is important, there are certain equity release plans that can factor in your wishes.
There is a wide variety of equity release plans that offer scope and flexibility. The adviser from our partner, can explore the possible options such as interest-only plans or those which allow you to make partial repayments, so there is less debt to be paid off at the end, if this is a concern for you.