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Eating or Heating this winter?

23 Sep

Mortgage News

We’ve heard the phrase “heating or eating” a lot over the years as we look at those who may have to contemplate the choice when finances are hard and typically, we consider the elderly population when we do so.

More and more we see decreased financial stability and increased health issues (especially amidst the pandemic) contributing to rising NHS admissions every winter. You may be struggling to afford the heating as the utilities companies rise their prices again, and food prices are also set to soar given Britain’s shortages of drivers and red tape on European produce.

This culmination of events could intensify the need for us to address the financial wellbeing of not only ourselves but our nearest and dearest, particularly those older loved ones who may not know where to start.

Equity release is often looked at as a method for helping those over 55 with financial challenges, including but not limited to:

  • Paying off an outstanding mortgage
  • Making home improvements & renovations
  • Paying for loved one’s expenses
  • Leaving a living inheritance
  • Settling outstanding debts

Give us a call to see if equity release could be an option for you, or perhaps for a loved one over 55 and we’ll see if we could help.

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This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice.

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