Top 10 Equity Release Tips for 2025
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- When using equity release in the UK, consider getting independent financial advice, understand the impact on inheritance, and assess the long-term financial implications on your estate.
- To make the most, ensure you borrow only what you need, consider the interest rates and fees involved, and explore different types of plans to find one that suits your needs.
- Top considerations include understanding the impact on means-tested benefits, the type of scheme (lifetime mortgage or home reversion), and the flexibility for future borrowing.
- Potential pitfalls include accruing high interest over time, reducing the value of your estate, and the possibility of negative equity if the house value decreases.
- Expert advice includes exploring all alternative options, understanding the costs and implications of early repayment, and choosing a provider that is a member of the Equity Release Council for added safeguards.
Here are the top Equity release tips to help you get the most beneficial plan for your circumstances.
Equity release is a fantastic financial product that allows you, if you're over the age of 55, to release the cash tied up in your home.
The term covers a number of plans available on the market with one thing in common: they allow you to continue living in your home for the rest of your life.
Equity release can be a great option for seniors who are cash-strapped and need money for everyday living, or dream of retiring comfortably.
While this is all ideal, equity release must be carefully considered, with guidance from an independent financial adviser.
Are you wondering what the 10 top equity release tips are that you need to know?
In This Article, You Will Discover:
Here they are!