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Equity release plans explained
Home reversion schemes explained
If you are already a homeowner - with or without a mortgage - then you might want to release some equity from your home to give you a cash lump sum.
This means that if you have paid off a significant amount of your mortgage and/or property prices have risen, you can benefit from some of the "profit" that is locked into your house without having to sell your home.
Lenders provide a variety of packages for doing this, but they are generally described as "equity release" mortgages.
Typically you will be able to borrow up to 95% of the equity in your home, given to you in a lump sum which you then pay back like a normal mortgage. This can be used to pay for home improvements, lifestyle changes, home repairs – almost anything, really.
WARNING Be very careful when doing an equity release mortgage. For some reason they are not regulated by the Government. Many experts are worried about this new trend and there are concerns it could become yet another personal finance scandal.
Watch out for the following
If you are interested in finding out how much equity release you could get for yourself, the calculator below will give you a rough idea of what is possible.
To get a more precise figure the best thing to do is to talk to an Equity Release Specialist. To contact a recommended one simply click the "Next" button - after entering your figures - then fill out the quick contact form. You will be contacted soon for a free, no obligation quote.
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Equity release plans explained
Home reversion schemes explained
Finding equity release provider
Choosing an equity release plan
Complaining about Equity Release
How
to Choose your Mortgage
Types of Mortgage
Remortgages
Where to Find your Mortgage
Getting a Mortgage in Principle
Guide to Buying Home in the UK
Guide to UK Home and Mortgage Insurance
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