FinanceEquity ReleaseFree for all readers – the Mature Times Guide to Equity release Free for all readers – the Mature Times Guide to Equity release
05/06/2008
In recent years, tens of thousands of people have turned to equity release as a way of unlocking some of the capital tied up in their homes. It might well be something YOU are contemplating too. But is it really the best option for you ... and what are the alternatives and the pitfalls?
The concept of equity release has many attractions. But, as all the best companies in the field will tell you, while equity release has many advantages it is not for everyone. Armed with the facts, you can make your own decision.
A new guide has just been written by Mature Times editor Tony Watts, aimed at providing an independent overview on the pros and cons of equity release, as well as an easy-to-follow resume of the types of products on the market. It also spells out some of the alternative ways to raise money.
The guide is free – and available simply by contacting 0800 082 65 70 quoting MAT080603. Or click onto this link.
So why consider equity release?
Retirement should be one of the most rewarding and enjoyable times of our life: the chance to explore some of the many things we never found time for when we were earning a living or bringing up our family.
However, not all of us have been fortunate enough to tuck away enough savings or have a private pension that has performed well enough to allow us to make the very most of these years.
Indeed, far from viewing retirement as “opportunity years” a great many of us enter it with trepidation, concerned that we will not have enough to afford to maintain even a modest lifestyle, especially given today’s economic climate with ever rising food, energy, utility and council tax bills.
The basic state pension is just that: basic. And people in retirement find that rises in the cost of living affect them far more than the rest of the population. We are all living longer – much longer than ever before – and the prospect of finding ourselves in ever more reduced circumstances is not something to look forward to.
Equity release is a way to access the capital locked in people’s homes. It allows you to unlock some of the value of the property and receive this as a cash lump sum or monthly income, depending on the scheme you choose. It also allows you to stay in your family home and enjoy the benefits of any rise in its value at the same time. The extra funds could be spent on improving or adapting your home – making it more comfortable for you.
Equally, you might want to splash out a little and buy a new car, or take the holiday of a lifetime you have always promised yourself – perhaps visiting family that you haven’t seen for many years. You might find that, on reaching retirement, you still have unpaid bills, or expensive credit cards. Or you might want to help out friends or family: perhaps assisting grandchildren to go to college. It may be that you, or a partner would benefit from a private health care operation to improve your quality of life.
It might be that you would simply like to make up the shortfall in your income in the years ahead, or you have reached a point where you would like to retire, but cannot afford to - and extra funds would enable you to do that.
Whatever the reason behind their decision, many people have released equity from their home to help them enjoy a more relaxing and financially secure retirement.
But is it right for you? The Mature Times guide, produced in association with In Retirement Services, is the first step to finding out! For your free guide to Equity Release call freephone 0800 082 65 70 quoting MATN080603.
Or go direct to the link below.