Finding Out About Equity Release
| Money : Mortgages Equity release is a process that many people have heard of, but that is about it. Yet for some it can be just what they are looking for. Equity release is the process of being able to get at some of the money that is locked up in your property, and therefore being able to spend the cash that you release as a result. For instance if you want to make a major process and can't afford it, but do own your own property, then this could be a way of getting at some money without having to take out a standard loan product. There are various ways in which equity release can work, and these include home reversion plans and also lifetime mortgages, and under each of these it is usually the case that there are implications for your estate so you should therefore consider them carefully and discuss with your family too, as they can dilute the value of your estate for your relations. It is therefore important to get good professional advice on equity release, but for more information, read about Equity Release and use the Equity Release Calculator to get an indication of whether you may be eligible for this method of releasing some of the value in your home.
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