Equity Release schemes were introduced to tackle low pensions & poor retirement incomes. With the help of equity release schemes, you can release the amount stored in your property, thereby allowing you to live your retirement in greater comfort.
Applying for equity release
Applying for equity schemes can be tricky and confusing and it is advisable to consult an independent financial advisor.
Amount of equity in your home
Consult a property expert and evaluate the market value of your property. It is important to note that the property value should be £60,000 or more. Understand that the mortgage you owe will be calculated according to the value of your home. The resulting amount will then be provided on a monthly or a quarterly basis based on your preference.
Evaluation of your property
Before the deal is finalised and the contract signed, the company will dispatch someone to evaluate the condition and market value of your home. The amount you can receive will be decided based on their findings. It is for this reason that you need to ensure that your home is in a presentable condition. The higher the market value, the more equity you can receive.
So why wait? Hire an equity release adviser and complete the process successfully and conveniently.