COMMON QUESTIONS
Answering your questions to make your decision clearer.
Can I release some equity to pay off an existing mortgage and/or personal unsecured debts?
Yes, you can!
Thank you for reading this post, don't forget to subscribe!Can I release some equity to pay for home and/or garden improvements?
Yes, you can!
Can I release some equity for some additional retirement income?
Yes, you can!
Can I release some equity to Help family members with a financial gift, maybe for a deposit on a house?
Yes, you can!
Can I release some equity to take a long-deserved holiday or two or three?
Yes, you can!
Can I release some equity to buy a new car or possibly a new motorhome or caravan?
Yes, you can!
Can I release some equity to pay for a little help or some care at home, so I don’t have to move?
Yes, you can!
Can I release some equity to purchase a new home?
Yes, you can!
Can I release some equity to buy out a partner so I can own the home on my own?
Yes, you can!
Can I make any monthly repayments, so the loan does not increase?
Yes, you have the option to make voluntary payments on an ad hoc basis, you can either:
- Make no monthly interest payments – The debt will increase
- Pay part of the monthly interest payment – The debt will increase slower
- Pay all of the monthly interest payment – The debt will stay the same
- Pay more than the monthly interest (overpay) – The debt will reduce
Will I still own my home?
Yes, you will, if you choose a lifetime mortgage.
Will I have anything left to leave to my children or other family members?
Yes, this is possible, you will need to consider a variety of options which a Qualified Equity Release Adviser will explain to you.
What is the minimum age for Equity Release?
Typically, you will need to be at least 55 to take out a Lifetime Mortgage.
However, if you are younger and wish to Release Some Equity, there are other options for you.
One of our experienced Qualified Equity Release Advisers will provide you with all the information you will need to make an informed decision.