How to Release Equity in House and Get Richer

13.03.2012 | Author: hanscruze017 | Posted in Mortgage
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Do you know that you can become richer with the passage of time if you release equity against your very own home? Now, this does not mean that you need to sell your property to receive a steady income in exchange. There are plenty of retirees who have misconceptions that equity release is equivalent to selling one’s property. In fact, one can earn right from one’s own home and stay right there till his last breath. Although the process to release equity in house was adopted long ago, the Britons today consider this financial plan to be the best in achieving a pleasurable retirement.

Owing to the online provisions, plenty of websites have been published where would-be-retirees can gather a lot of information regarding the current and best equity release loans. In fact, if you want to know about these plans in details, you can talk to financial experts online and sort out queries. Remember, the schemes that allow one to release equity in house are not like those typical ones available for retired individuals. These schemes might sound a bit complex and therefore should be understood taking help of equity release agents.

Here are some of the benefits of equity release loans:

  • Homeowners who are above 55 are eligible for an equity release loan. With these loans, one can draw cash against one’s own property having a fixed capital value. Hence, the borrower can receive a fixed income for lifetime.
  • With equity release loans, applicants are offered lifetime mortgages against their respective properties. This means that the loan assures tight security for one. Moreover, the interest gets added along with the capital for the entire contractual period. Once the borrower shifts to some other property or dies, the property gets sold and thereafter the capital is repaid.
  • The home reversion process is also a great advantage for ones who are looking forward to release equity in house. Here the borrower sells his own property to another party. In fact, he can also sell a certain portion of his property to the home reversion agent and thereafter can stay in his property as long as he desires. This lets the borrower enjoy a steady income for lifetime and he can always stay here being the homeowner.

    • So, if you are willing to release equity in house, make sure that you first talk to a professional equity release provider and accordingly opt for any of the equity release loans.

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