A recent data released by the Equity Release Council (ERC), Equity Release was the fastest growing sector of the Mortgage Market in 2018. Their figures show that 50 pence of housing wealth was unlocked during 2018 for ever £1 of flexible pension payments*.
What this means for home owners
Adam Nanson, Managing Director at Your Mortgage Expert in Salisbury comments:
“It comes as no surprise to us that Equity Release is becoming increasingly popular. It can seem like an attractive option because these products can help you to release a tax-free lump sum, a regular income or both, release funds when you need it and unlike mortgage lending, enables you to spend your money on pretty much anything you choose.”
How Your Mortgage Expert can help
Adam Nanson continues:
“If you’re a home owner aged over 55, you may want to unlock some of the money tied up in your home. This is where Equity Release Mortgages can be useful because they enable you to free up some of the equity held in your home without having to commit to a monthly mortgage payment.
“However, Equity Release isn’t for everyone and we would recommend you get some appropriate advice before taking any steps. You need to think carefully before you decide whether it’s for you – it’s all about weighing up the pros and cons. That’s why we have specialist knowledge on the subject and can give you all the facts, point out the features and the risks, and give you a personalised illustration.”
For further information and to have a no obligation conversation, why not get in touch? We will talk you through all the options and help you to understand whether there are alternative options which might be more appropriate in your circumstances.
The information contained within this article was correct at the time of publication. It is intended for information only and does not constitute advice. TenetLime Ltd cannot be held responsible for information that was correct at the time of publication but subsequently changes or goes out of date due to changes in legislation. For further information, contact Your Mortgage Expert on 01722 322683.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
EQUITY RELEASE MAY REQUIRE A LIFETIME MORTGAGE OR HOME REVERSION PLAN. TO UNDERSTAND THE FEATURES AND RISKS, ASK FOR A PERSONALISED ILLUSTRATION.
EQUITY RELEASE IS NOT RIGHT FOR EVERYONE. IT MAY AFFECT YOUR ENTITLEMENT TO STATE BENEFITS AND WILL REDUCE THE VALUE OF YOUR ESTATE.
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