Equity Release Makes a Significant Difference to the Lives of Many

    Money makes the world go around, but it also causes people an immense amount of stress and for many, it is their biggest concern in life. For those that are looking to boost their finances, cover a large expenditure, or simply improve their lifestyle, equity release could be a good option that can make a significant difference to the lives of many.

    What is Equity Release? 

    So, what exactly is equity release? Equity release is available to homeowners aged 55 or older and allows you to free up some of the cash tied up in your home. You can take this as a lump sum or in monthly installments both tax-free and use it as you wish.

    People use equity release in many different ways to improve their lives. A few of the most common uses include:

    • Boosting retirement fund
    • Paying for a holiday
    • Home improvements
    • Pay off debts
    • Helping loved ones to buy a home
    • Improving general lifestyle

    Benefits Most

    Equity release is a major financial decision to make and not one that should be made lightly, but evidence shows that those that do opt for equity release usually benefit from the decision. 

    Will Hale, CEO at Key, comments on how it can improve people’s lives:

    “Equity release has made a significant difference to the lives of many people and has evolved into an industry that with a clear focus on customer needs. Very few industries can say that 90% of customers would or have recommended their products to others and only 10% say that taking out a plan has not improved their standard of living.”

    Key Benefits

    There are a handful of benefits to equity release over other financial products that should be considered.

    You Get to Stay Put

    When many people reach retirement, they decide to downsize to free up cash. You don’t have to do this with equity release as you can stay put and improve your home (many choose to future-proof their property).

    Monthly Payments are Optional

    The monthly repayment is optional when you use equity release as you do not need to repay the loan or interest until the home is sold when you die or move into care. This allows you to boost your finances, although many people decide to pay off the interest to keep the debt down.

    Access the Money When You Need it

    You can also access the money as and when you need it whether this is a lump sum or accessing smaller amounts over time to provide a regular income.

    You Could Avoid Inheritance Tax

    You need to consider inheritance when it comes to equity release, but it can help you to give your family a cash gift while avoiding inheritance tax.

    Equity release can be a great option for many homeowners and boost their finances, but you should always speak to an expert to see if it is right for you.



    RELATED ARTICLES

    Monetize Magnet

    Monetize Magnet Review – The Best Crypto and Forex CPA Network

    In today's world, cryptocurrency has reached new heights, expanding continuously and providing online earning opportunities...
    Payback LTD

    Payback LTD Review (Payback-ltd.com) – Find out Why This Fund Recovery Service Provider

    Payback LTD Review Losing your hard-earned money in what seemed like a good opportunity can be...
    Financial Investments

    Understanding Risk Management Strategies for Financial Investments

    In the ever-evolving landscape of finance, understanding and effectively managing risks associated with investments is...
    Debt Management

    Mastering Debt Management Strategies for Long-Term Financial Health

    In the pursuit of financial stability, managing debt effectively stands as a crucial pillar. Debt...
    Index Fund

    5 Key Strategies to Invest Your 1 Lakh Investment in an Index Fund

    If you are an Indian investor with Rs 1 lakh in hand, ready to venture...
    Trading Platforms

    Navigating the Modern Landscape of Online Trading Platforms

    In the ever-evolving realm of financial markets, one of the most significant milestones has been...
    MBA Programme

    Dual Degree MBA Programme: A Unique Educational Opportunity

    In today's world, professional success requires more than traditional management skills. It calls for a...
    women ipl

    Women IPL Sensation Shreyanka Patil: From Fan to Champion

    In a cricketing universe usually ruled by dudes, Shreyanka Patil, the rookie wonder for Royal...
    Monetize Magnet

    Monetize Magnet Review – The Best Crypto and Forex CPA Network

    In today's world, cryptocurrency has reached new heights, expanding continuously and providing online earning opportunities...
    celsius drink

    Celsius Drink – What Is It and How Safe Is It?

    These days, you must come across your social media feeds with an advertisement for a...
    low porosity hair

    Low Porosity Hair Problem? Slay Locks with Moisture Miracle

    Have you ever experienced your hair being stubbornly resistant to moisture? That's low porosity hair...