Equity Release Calculator

You are property rich but cash tight. You’ve benefitted over the years from the increasing property prices, but without cashflow, you are severely limited in what you can do. You’ve got time to do the things you’ve also wanted to do, but you can’t, because all of your money is tied up in your property. Imagine that you could do that renovation, get that perfect car or go on. There is a way… and still stay in your property. It’s called equity release, and it’s booming in the UK. You’ve seen it on the TV, heard about it on the radio, and you’re not the only one. Every 12 minutes, someone over 55 in the UK is releasing cash from their property. Let’s take a more in-depth look at what it is. It’s a financial product that enables homeowners who are 55+ to unlock the value in their home by turning it into a lump sum or regular income. Unlike traditional mortgages, with these schemes, you don’t have to make any monthly repayments, and they allow you to continue living in your residence until you pass away or move into permanent care. Only then is your plan customarily repaid from the sale proceeds of your home. If you’re over the age of 55 and a homeowner, you’re almost certainly eligible. What you release isn’t taxable, and you have the financial freedom to use it on what you want – meaning you get to tour the world, give a living inheritance to your family and enjoy your golden years. You’ve always waited for the moment to do what you want when you want. Now you can have the funds to do that. Is it safe though?