Give your Existence a Better Look with Equity Release

09.11.2011 | Author: dorthy.williams123 | Posted in Mortgage
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Old age comes with many difficulties and the greatest of all is retirement. Yes, it is retirement which snatches your financial independence and leaves you on your fate to make adjustment with your life. To get rid from these difficulties that come along retirement, equity release is the most convenient way. All you need to do first is to go through different equity release schemes UK for getting a wider view of the deals which can bring you happiness and above all an independent and safe life.

In UK, releasing equity schemes are mainly of two types, such as:

Lifetime mortgages: This plan offers a huge amount of money to the property owners who are above 55 years of old. Here, the deal is set in the following way.

  • The owner can cash in a lump sum amount based upon his or her property.
  • The owner retains the ownership of the property till he or she dies.
  • After his or her death, the property is sold by the equity providers to get back the amount, they have invested.

    • Home reversion plans: This plan allows property owners to sell a part of the property to the equity providers with a right to stay there without any rent.

    To know whether these equity release schemes UK are right for you or not, you can take help of the equity release calculator. These calculators can calculate the estimated value that can be released upon your property. This will help you to understand the profit you can gain through these financial plans.
    To get these calculators for free, come online.

    Before setting up your deal, you should consult a financial adviser because he or she is the person who can help you deciding the scheme with which you should stick depending upon your financial requirements.

    Equity release can avail you lots of benefits, such as: you can spend the money to live a lavish life with all the comforts you want. You can buy cars or other household appliance. You can plan a retirement holiday with your partner. If your health condition isn’t good, you can get monetary benefits to bear the medicinal expenses. This also gives the security to have a guaranteed lifetime income.

    Safe Home Income Plan (SHIP) was made in 1991 for the betterment of equity release. Knowing the equity release schemes UK better will open up the secret door of happiness for you. So, i wish you make a happy deal and have a happy life ahead!!

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