London Equity Release
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Equity Release Plans in London Reviewed By Experts. You Won't Believe What We Found When Reviewing These London Lifetime Mortgage Schemes…
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It’s REALLY hard to choose the best equity release in [LOCATION] with all the choices available.
Or is it?
We Can Almost Always Beat Any Existing [LOCATION] Based Equity Release Quote
What’s Equity Release?
Equity release is the use of financial arrangements that provide the owner of a house or other property with funds derived from the value of the property while enabling them to continue using it.
Learn More: What Is Equity Release?
How Does Equity Release Work?
Simply put, an equity release is a UK product that allows you to unlock the cash tied into your home, with no payments required in your lifetime. Instead, the loan, plus interest, is repaid from the sale of your home when you pass away or move into permanent care.
Learn More: How Does Equity Release Work?
Equity Release Types
There are two equity release options available to you.
- Lifetime mortgage: is a mortgage secured on your property (provided it’s your main residence), while retaining ownership.
- Home reversion: is where you sell part or all of your home to a home reversion provider in return for a lump sum or regular payments. You have the right to continue living in the property until you die, but you have to agree to maintain and insure it.
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Equity Release FAQs
Are There Drawbacks to Equity Release?
One shortcoming of equity release is that you will not be paid the full market value of your property. Should you sell your home, you would receive more cash. However, you would still need to relocate, which has added expenses.
Is Equity Release Regulated?
These financial products are governed by the Equity Release Council and are regulated. Should you choose a lifetime mortgage, you will remain the owner of your home. You will also have a no negative equity guarantee.
Can I Sell My House After Taking Equity Release?
Most equity release plans make allowance for you to move the mortgage to a new property should you decide to sell your home. This option may be depended on the leader approving the new house, and you may need to make an early repayment.
Can My Age Affect My Eligibility for Equity Release?
Equity release is usually suggested to consumers over 60 because there is an age limit. The minimum age for equity release is generally between 55 and 60.
If you’re anything like us, you skipped to the end anyway.
So here’s the scoop – we are offering to get you the best quote for equity release from the leading equity release companies.Our intention is to help you save money by finding the best equity release provider so that you can spend the money on something that you really want, rather than on a high tax bill. Editorial Note: This content has been independently collected by the EveryInvestor advisor team and is offered on a non-advised basis. EveryInvestor may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Learn more about our editorial guidelines.
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