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Equity Release Planning Financial Advice
There are two main types of equity release plan available:
- Lifetime mortgages
- Home reversion plans
Both of these plans will allow you to remain in your home and release cash to use for whatever purpose you want.
With equity release you:
- Have the flexibility to receive a tax-free cash lump sum
- Can use the cash for whatever you wish
- Will not have to move home
- Have the option to guarantee an inheritance for your family
- Have the right, with most plans to move to another suitable property without any financial penalty.
Equity release may involve a lifetime mortgage or a 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 it will reduce the value of your estate.