Equity Release Mortgages
Equity release is a way of unlocking some of the value of your home and turning it into a tax-free, cash lump-sum.
It’s essentially a long-term loan that’s repaid using your home once you pass away or require long-term care. Until then, you’ll remain a homeowner with no need to move out.
Whatever financial freedom means to you in later life – renovating your home, paying off an interest-only mortgage or helping your children – equity release is designed to help make it happen.
Entering into a lifetime mortgage (or any form of equity release) will reduce the amount of inheritance you can leave behind. It may also affect your tax position and eligibility for welfare benefits.
EQUITY RELEASE MORTGAGES
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