Main points of Equity Release
- Youngest person must be over aged 55.
- No upper age limit
- Release equity from the value of your current home.
- Can also be used to purchase a property.
- What you borrow cannot increas so much as to exceed the value of your home (No negative Equity Gaurantee)
- Money raised is tax fee and can be used for any purpose.
- No requirement to make monthly payments although monthly payments can be made if you wish.
- Gauranteed to be able to stay in your property for life if that is what you want.
- Minimum amount id £15,000. May receive the amount either as a lump sum, a regular income or both.