Equity release advice – take an unprejudiced decision
Equity release is a policy with which you can overcome any financial crisis without having to suffer the indignity of borrowing from other people or having to mortgage your property and stand the chance of losing it or even having to sell off the property and be homeless. With a good equity release policy you will receive money as a lump sum one time amount or as monthly instalments, depending upon the valuation of your property by keeping your property in mortgage to the company offering the equity release property. Do not get worked up with the term mortgage as unlike mortgage, you would not have to forfeit your property if you are unable to repay the loan amount within the stipulated time limit.
You can continue to call your property your own and receive money as well but only as long as you live. After your death the property will pass on to the company from which you have taken the loan instead of your beneficiaries and this is probably the only biggest disadvantage of equity release. Take the help of your agent to get equity release advice and find out about more disadvantage as well as advantages of release equity. You can also take the help of the Internet to ask for equity release advice from experts and regular people all over the world who have benefitted from equity release policy, if you do not have an agent. And anyway, the best equity release advice that you can get are from regular common people like you who have actually taken up the policy instead of agents who will of course try to sell you a particular company or policy that she or he thinks is good. In simple terms, the decision you take would be prejudiced.
The loan amount, as is said above, will depend upon the valuation of your property. But you can calculate the approximate amount yourself with the help of equity release calculator available on the websites of companies offering release equity policies. You do not have to worry if you do not know how to use an equity release calculator as these are quite user friendly and easy to use with instructions given there. Just enter certain details about your property and the equity release calculator will return the approximate loan amount based on the valuation of your property as entered by you, immediately.
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