Equity Release Plans in London Reviewed
I know you’re going to agree with me when I say:
It’s very hard to pick the best equity release company in London with all the possible options.
Or is it?
A Few Common Questions
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.
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.
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.
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.
Equity release allows you to use the value of your home to borrow money and is a common choice for older generations.
Products like a lifetime mortgage will give you money without many of the drawbacks of a traditional loan and provide a guarantee that you will never owe more than the value of your house.
This method of borrowing has proven to be a secure and common way of enabling homeowners to access financing.