Financial Services

Four practical uses for equity release

In a previous article, we discussed what equity release is. This short article highlights a few practical ways of using equity release to your advantage. 

Getting ahead on an interest-only mortgage 

If you’re approaching retirement but don’t have savings to cover the end of your interest-only mortgage, you may wish to use equity release to clear your debt. This means that you can release equity and avoid downsizing. 

Protecting an inheritance for your loved ones 

If you own your home but you’re not eligible for a loan then equity release may be a practical way to relocate to spend more time with your family during your retirement. With the right advice, an advisor could help you protect a large percentage of the value of your future home.

Helping family onto the property ladder

You may wish to help a family member onto the property ladder. Accessing money tied up in your home is a good way to help put down a strong deposit on a property. Some equity release plans even come with an inheritance protection feature.

Paying off your debts

It can be easy to accrue debts and as you approach retirement you may be concerned about your ability to get by on your pension alone. Equity release could be used to pay off debts ahead of your retirement. It’s always wise to speak to an adviser to find out what will work best for you.

Want to Speak to an Independent Financial Advisor?

Have a look at our Business Directory to find an Independent Financial Adviser that can help with Equity Release.

Comments 1

  1. Equity release explained | Legal & Financial Services

    […] Want to see examples of how Equity release can help you? Click here […]

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