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25th Oct, 2021

Reasons why equity release might be the best option for you

Rugby Editorial 8th Oct, 2021

When you find yourself in a situation where your home is no longer affordable for your needs, it’s time to consider equity release benefits.

Equity release benefits are not just one-size-fits-all.

They vary from person to person and depend on the specifics of their own circumstances.

It can be a great way to help ensure that you maintain your independence and continue living the life you love.

In this blog post John Lawson, an Equity Release Expert from SovereignBoss, will discuss the top factors of equity release before you decide which type of equity release is best for you!

 

Why You Should Consider Equity Release

If you’re looking for ways to make the most of your retirement savings, then taking out equity release can be a great option.

Equity release provides many benefits, including financial security and peace of mind.

Here are some of the reasons why you should think about releasing your home’s equity:

 

#01. Financial Freedom

With an equity release, you can enjoy a measure of independence while still saving for retirement.

Those who need some time before fully retiring may find it beneficial in these circumstances too.

It will give you more independence than just a regular old savings account.

You may consider this option because when you unlock some money and use the funds on investments instead.

 

#02. Low Interest Rate

Equity release is a flexible option for people who want to manage their investments and spend the money they’re not using as it gives them more control of spending.

The low-interest rates also make this type attractive because they can avoid paying high interest fees on loans or lines-of credit.

 

#03. Tax-Free Income

The process of getting a tax-free equity loan on your property is easy and doesn’t need to worry about capital gains in the future when you sell it due.

The cost will be covered by selling this home, so there’s nothing more for concern or stress.

 

#04. It Isn’t Necessary to Make Monthly Payments

When it comes to equity release, monthly repayment is not required.

You can decide for the monthly payments on your property by simply transferring funds into an account each month and then drawing them back out as you need them – eliminating one more thing that could be holding someone up from taking their freedom in hand.

 

#05. Relocation Isn’t Needed

There is a common misconception that you need to move when receiving equity release and moving home is expensive.

Equity release can be the best option for some people who are comfortable with their current situation.

This means that mortgage lenders might not require you to move at all if they believe releasing your property will give them enough return on investment.

Sometimes, it can be hard to know if you have enough money saved up for retirement.

One way to guarantee a more comfortable future is with equity release loans.

These are designed so that the homeowner pays back a loan over time and gives up part of their home’s value as collateral.

Equity release might seem scary at first, but it could turn out to be the best option for many people who want guaranteed financial security in old age or those who need some extra cash right now.

If you’re considering equity release, be sure to talk it over with your financial advisor.

They can help get a better understanding if this is the right solution for your situation and will work out all those pesky details so that life after retirement doesn’t feel like such an uncertainty!

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