Equity Release Aberdeen (Oct 2021)
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Equity Release Plans in Aberdeen Reviewed By Experts. You Won't Believe What We Found When Reviewing These Aberdeen Plans…
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Equity Release Plans in Aberdeen Reviewed
I think you’ll agree with me when I say:
It’s REALLY hard to choose the best equity release in Aberdeen with all the choices available.
Or is it?
What's Equity Release & How Does It Work?
We've summed up the most important information about the topic in this quick video.
An equity release mortgage is, in a nutshell, a loan plus interest that is paid back to the lender when the homeowner passes away or goes into permanent care. The homeowner’s family usually pays back the cash released, and the interest incurred, from the sale of the home in question.
Equity release is available for individuals or couples over 55, with the youngest homeowner’s age determining the amount of equity that can be released. It is important to note that some equity release schemes may require the homeowner to be 60 or older.
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Aberdeen Equity Release
Aberdeen1 is a port city in northeast Scotland, where the Dee and Don rivers meet the North Sea. With an offshore petroleum industry, the city is home to an international population. It’s also known as the ‘Granite City’ for its many enduring grey-stone buildings. The 19th-century Marischal College is typical – a monumental Victorian landmark that’s now headquarters of the City Council.
Aberdeen is a city located on the northeast coast of Scotland at the mouth of the River Dee Scotland with over 200,000 people and the third most populous in the country. The name ‘Aberdeen’ comes from Gaelic – “aber” meaning river mouth plus “din” meaning fort or settlement.” It was originally called “King’s City” because it was founded by King David I of Scotland. This city is known for its granite buildings and its beautiful downtown area, which features the Marischal College and the University of Aberdeen. It is known for its long association with higher education and as one of Europe’s oil capitals.
There are many sights to see in this location, including Scotland’s tallest building, the new Marischal College Quarter development with Queen Victoria Square on which sits statues honouring famous Scottish authors Robert Burns and Sir Walter Scott as well as monuments commemorating Lord Nelson and Admiral David Beatty who commanded allied naval forces at Jutland during WWI. There are also several museums in town that you can visit like the Maritime Museum or Lucy Ashton’s House Museum. You will find artefacts from both world wars and an exhibition telling her story through objects such as letters, photographs and clothing.
Aberdeen is also a great place to enjoy the outdoors with many parks such as Wellington, Queen’s Cross or Hazlehead Park. All of them have been awarded five stars for their excellent facilities by independent charity Parks & Playgrounds UK. You can also visit Aberdeen Beach (considered one of Scotland’s best), where there are plenty of places to eat, like The Golden Sands Café that offers traditional fish and chips from scratch on its outside decking while you take in long views across the beach and the North Sea.
Equity Release FAQs
How does equity release work in Aberdeen?
Equity release in Aberdeen is, in a nutshell, a mode of unlocking the value of your property in Aberdeen and turning it into a lump sum.
You can do this via several policies which allow you to access – or ‘unlock’ – the equity attached up in your residence if you are over 55.
Can I get equity release in Aberdeen?
Qualifying for equity release in Aberdeen is contingent on the maturity of the youngest person on the title deed & also your Aberdeen property criteria.
To qualify, you need to be at least 55, own your home worth at least £70 000 (or have it on a freehold basis) & in good condition.
PS – If you’re anything like us, you skipped to the end anyway.
So here’s the scoop – we are offering to get you the best quote for equity release from the best equity release companies.
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Editorial Note: This content has been independently collected by the SovereignBoss advisor team and is offered on a non-advised basis. Sovereignboss may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations.
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HOW MUCH EQUITY CAN YOU RELEASE?
Most people are using equity release as a means of retaining the use of their house while also obtaining a lump sum or a steady stream of income. Get matched with an expert and check your eligibility for equity release options.
Use our free equity release calculator & see how much you can release today.