Your chosen plan provider gives you a lump sum or the promise
of funds up to a certain level, which you can draw on as
needed.
You can spend the cash on anything you want and don't have
to make any repayments until...
When you die, or sell your home, the money youve borrowed
plus any interest owed has to be repaid.
And because the interest has been allowed to roll up, rather
than being cleared gradually, it can be an awful lot
more than you expect.
Unless you're very wealthy in which case, you won't need
to get involved with equity release this is likely to make
a major dent in your estate, seriously limiting your heirs
inheritance.
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.
Step 1 of 2
Equity Release
(May
vary based on personal circumstances)
Equity release is only available if the youngest
homeowner is 55 or over. The best option for
those under 55 is a remortgage.
