Financial Conduct Authority No. 952718

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What Is Equity Release?

08 Sep

Mortgage News

With the current economic projections looming, a new study from Legal & General has indicated that the average UK working household is only 19 days from a financial crisis if they were to lose their jobs today. 

If you’re a homeowner aged 55 and over in need of a cash injection to improve your current living standard or prepare yourself for the coming years, an Equity Release plan may be a viable solution for you.

Get in touch with our independent mortgage brokers in Northampton for bespoke, independent advice today.

Your Quick Guide To All Things Equity Release

Equity Release is an excellent method of helping you plan for your retirement or to help you with potential upcoming financial difficulties. It helps you build more stability in your day-to-day life by releasing money from the Equity in your home early and without you having to sell or move out. However, we will only ever advise you on this if we consider this option to be suitable for your circumstances.

Our expert mortgage advisors are on-hand to discuss a wide range of alternative options, along with features and risks of Equity Release. In the meantime, check out our handy guide of frequently asked questions below: 

  1. What Is Equity Release? 
  2. How Can I Benefit From Equity Release? 
  3. What Are The Disadvantages Of Equity Release?

1: What Is Equity Release? 

Equity Release refers to a range of products letting you access the cash in your home. The process involves “releasing” money from your property while you still live there so that you can use the cash instead, which is especially useful in times of financial hardship or to make your retirement more comfortable. 

2: How Can I Benefit From Equity Release? 

Equity Release is currently only available for homeowners aged 55 and over. If you fall into this relevant category, you can decide to take a lump sum, an income, or a combination of the two.

3: What Are The Disadvantages Of Equity Release?

One of the main disadvantages of Equity Release is that you may not receive the total market value for your property. You may receive less money when compared with selling your home on the property market (but this will also come with considerations that you will have to find another property to live in if you do not have another one at present). 

CG The Mortgage Experts Are Here To Help! 

At CG The Mortgage Experts, we are incredibly delighted to be able to offer Equity Release services from a specialist advisor in this area. Whatever your current circumstances, we can help advise you on the best course of action to take to make the coming years as comfortable as possible. 

If you’re interested in finding out more about Equity Release, book a consultation today with our Mortgage Advisors or check out our Equity Release page for further insights.

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