What is Equity Release
Equity Release is a product that enables you to release equity from your
property with the option of repaying the loan on death or in the event you are taken into long term care.
Equity release products
There are two categories,
Lifetime mortgage - which is a mortgage with no end date. You have the option
of paying the interest payments or letting the interest payments rollup over the life of the mortgage.
Home reversion - where you sell your property to the provider but continue
to live in the property.
Having spent your working live paying your mortgage you can now use that
built up equity to do some of the things you weren't able to do whilst working by releasing tax free cash with Equity Release.