Raising money later on in life is often more difficult because you have assets rather than income; we are seeing increasing numbers of elderly people asset rich and cash poor. Some are even finding that their income is not sufficient enough for them to continue living comfortably in their much-loved family home. This is where Equity Release can really make the difference.

Equity Release enables you to withdraw money from the value of your home which may be used to supplement income, pay for that cruise you’ve always wanted, carry out those much-needed home refurbishments or even pay for the care you need in the confines of your own home.
It can also be a valuable tool for inheritance tax planning and in some instances, may also be appropriate for you to purchase a property.

By borrowing against the value of your home, you can gain access to capital lump sums. Typically, the older you are the more you can borrow; however, there are exceptions to this rule. In all instances that we recommend, a “no negative equity guarantee” will apply, meaning that even if your house should decrease in value, your estate will not be required to repay any additional debt after your death.

To find out if Equity Release could work for you please get in touch, our expert advisers will be happy to help you decide.