Are you aged 55-95? Are you a Homeowner? Would you like some extra cash to help you enjoy your retirement? Solution Mortgages can help you make the most of your retirement by safely releasing funds from your home with equity release. Many people have seen the value of their home increase substantially over the last decade. The difference between the current market value of a property and any loans secured against it is known as ‘equity’.
Equity release can be defined as the transfer of an interest in your property to a third party in exchange for a cash sum or a monthly income. You receive the cash but continue to live in the property. The Equity release lender will recover the money it has lent you either by selling your property after your death or if you sell your property – for example, to move into a care home. To be eligible for most equity release schemes you should be aged between 55 to 95, have a property that is worth a minimum of £30,000, and ideally be a freeholder. If you are having difficulty raising funding through loans or mortgage then equity release may be the way forward. To find out how we can help, complete the online form – or call us on 0800 035 6443 to speak to one of our experienced staff. If you are in any doubt, we urge you to seek independent advice.