Equity release is a means of retaining use of your house or other object which has capital value, while also obtaining a steady stream of income, using the value of the house.
The "catch" is that you have to re-pay the income-provider at a later stage, usually when you die. Thus equity release is particularly useful for senior citizens who do not wish to leave a large estate for their heirs when they die. (See Reverse mortgage for an American equivalent, generally available only to those aged 62 or more.)
types of equity release plans include home reverson, lifetime mortgages
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