Newcastle Equity Release (Oct 2021)
Are You Looking For the Best Equity Release Schemes in Newcastle?
Equity Release Plans in Newcastle Reviewed By Experts. You Won't Believe What We Found When Reviewing These Newcastle Plans…
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Equity Release Plans in Newcastle Reviewed
I think you’ll agree with me when I say:
It’s REALLY hard to choose the best equity release in Newcastle 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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Why Should You Compare Quotes in Newcastle?
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Newcastle Equity Release
Newcastle1 Upon Tyne known as Newcastle, is the most populated city in the North East of England. Along with its smaller neighbour Gateshead on the opposite side of the River Tyne, Newcastle is emerging as one of the fastest growing- and arguably one of the friendliest- cities in the UK.
Newcastle is a city in the North East of England originally built up as a coal mining town for the many mines located nearby. The town’s growth came about around industry and has been able to maintain its status as an industrial centre. Newcastle is one of the largest cities in Europe, without any large areas of green space within it. The population consists mostly of young people due to recent university expansion, but there are still plenty of older residents who have lived there their whole lives.
Its most famous landmarks are its Castle Keep, a Norman stronghold and its Cathedral, founded in 1080. The castle keep was originally built out of stone, but due to the then-prevailing belief that it was not strong enough for a defensive fortification, its walls were demolished and replaced with an earthen ramp. It is also worth noting that many old buildings have been left untouched since they were first constructed, such as those found around Grey Street and Grainger Town.
It is still home to a bustling port, but the local economy has diversified significantly into retail and higher education sectors. The city’s population has also grown by 50% in the past decade, a trend that appears to be continuing unabated as people flock north for cheaper housing amidst growing social unrest on England’s southern coastlines due to climate change-induced flooding.
Equity Release FAQs
How does equity release work in Newcastle?
Equity release in Newcastle is, in a nutshell, a mode of unlocking the value of your property in Newcastle 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 Newcastle?
Qualifying for equity release in Newcastle is contingent on the maturity of the youngest person on the title deed & also your Newcastle 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.