When retirement incomes seem to be getting smaller, many people are facing larger bills or cannot afford to enjoy one or two luxuries in life, however modest. Yet, at the same time, they may well own their own home and be in that group of people sometimes referred to as asset rich, cash poor.
As an example, I regularly meet clients who are genuinely worried about paying their essential bills and yet live in a mortgage-free house and having an extra three to five hundred pounds per month makes the difference between them struggling and worrying about feeling comfortable. Others require more money than this, but the principle is the same. So Equity Release is not just for large lump sums but can also be used to supplement income in retirement.
When there isn’t enough pension or earnings to support a traditional mortgage, there is a user-friendly option called Equity Release, which is a mortgage where you are not required to
make a payment each month. By withdrawing what can often be quite a modest amount of money from your home can make a significant difference in your lifestyle without necessarily using up all the value in your home.
As each person’s situation is so individual, it is always best to seek independent, unbiased and straightforward advice to help make the right decision for your personal circumstances. We can offer that to you locally (face to face) rather than with one of the many large national firms that regularly advertise on the TV and radio.
If you would like a free initial chat without either cost or any commitment, just make contact!
I am a local independent adviser who will take into account your personal circumstances, preferences and future plans into account when I offer you my advice.