Equity Release Plans

In Retirement Services in administration

2009-08-17T07:10:00.000-07:00

Equity release firm In Retirement Services has gone into administration with Deloitte appointed as administrators.
Carlton Siddle, Robin Allen and Nick Edwards from Deloitte were appointed as joint administrators on Friday to manage the administration process for In Retirement Holdings Limited, In Retirement Services (Reversions) Limited and Equity Release Limited.
Deloitte says that as the financing for the equity release plans came from other financial institutions In Retirement Services has no financial or ownership interest in the properties that have been subject to equity release arrangements.

Robin Allen, joint administrator of In Retirement Services, says: “Unfortunately, it has not been possible to secure funding to enable the group to remain outside of an insolvency process.

“We are currently working with management to determine the best strategy for maximising value for the group's stakeholders and preserving the continuity of services to its 14,000 customers.”

The company was backed by private equity house 3i and was part of the equity release trade body Safe Home Income Plans.

Customers of In Retirement Services with queries should call use their usual point of contact within the In Retirement Services group.

Equity release to see big business in 2029

2009-08-17T07:07:00.000-07:00

There will be an increased uptake in equity release in 2029 so elderly people can enjoy a good standard of living, according to research by retirement planning group Sovereign Reversions.
The firm said that by 2029, there will be 15.1m people over the age of 65, a 50% increase in the number of pensioners today. By 2029, this group will sit on housing equity worth £1.5trn, an increase of 88% on the current level of £800bn.

The firm said that as these over 65s prepare for retirement, they will find finances much tighter due to pensions becoming more dependent on uncertain investment outcomes and the official retirement age rising which will force people to work longer before being entitled to a state pension.

Graeme Marshall, chief executive of Sovereign Reversions, said that for many, the value of their home will be the most obvious source of cash to support their income in retirement.

He said: "There will be no alternative to ensure pensioners have can enjoy a reasonable living standard in their old age."

Sovereign Reversions used Office of National Statistics data on pensioner households and housing tenure and Department of Communities and Local Government (DCLG) data on house prices in its study

Equity Release - Considerations

2009-05-07T06:28:00.000-07:00

When looking into equity release it is essential that you seek the advice of a specialist such as a financial advisor. A financial advisor will be able to assist you in determining whether this step is the right step for you. The first thing you should know is that equity release should be considered as a last resort option.

What can the cash obtained through equity release be used for? The answer is just about anything you can think of. It can help with Inheritance Tax planning or any other type of assistance you may need. Here is how it works. There are two primary ways that equity release works. The first is Reversion and the second is Lifetime mortgage.

Under the Reversion plan you could sell all or part of your home for tax free cash. Keep in mind however that the percentage of the home that you sell will not equal the cash you will get. Normally, you will get less than the percentage value of your home. Under the lifetime mortgage plan you are granted what is called a tax free loan. It is borrowed against the security of your home. On this plan you make no repayments until the house is sold. This is usually at the time of demise or when you would enter a care facility.

On lifetime mortgages there is also the interest that is charged though is not collected and it is cumulative which means that you will, at the end of the loan not only pay the interest on the principal amount that was borrowed but also interest on all the interest that accrued. Confusing and expensive sounding right, this is why when considering an Equity Release Considerationsit is essential to obtain assistance through a financial advisor.

Here is the difference between the equity release options with Reversion you will for certainty give your beneficiaries the proceeds percentage from the sale of the home that was left over from the release. For example, if you did an equity release under this method for 40% of your home then your beneficiaries would receive the proceeds of 60% of your home when it sold.
Lifetime mortgage works a little differently. The big difference is that if you die during the early part of the plan within the first couple of years for example. Your beneficiaries are going to be better off. However, if you do not you may end up reaching something called Negative Equity. This means that your loan would actually exceed the amount that could be obtained through the sale of the house. Not only leaving you with nothing to provide for your beneficiaries but also a mounting debt for them to pay off.

There are other factors to consider but these are the biggest factors that appear when considering equity release and the largest reasons why the market as a general rule views equity release as a final option measure to be used primarily in dire emergencies where there are no other possible options.

If you are considering an equity release it is important that you talk with your financial advisor and thoroughly discuss what each option could mean for you both what you will receive and what you may end up having to pay back. Your financial advisor will be able to assist you in determining if equity release is right for you and if it is which of the two schemes are going to be the best options for you.

Equity Release Considerations can provide you with a way to provide for your family when it comes to inheritance taxes or it can be used in an emergency to provide your family with the funds that are needed to ensure their security but this type of financial step is not without significant risk. In order to be sure that this is the only and best option for you take the time to obtain the counsel of a financial advisor.

Norwich Union Life results show strong equity release growth

2009-05-07T06:26:00.000-07:00

The firm said this underlined how customers and advisers alike had benefited from its proposition enhancements and the strengthening of key IFA relationships in 2008. Volumes in Q1 had been driven by the significant pipeline of business of £75m coming out of 2008.

Dominic Fraser-Smith, group manager for Norwich Union equity release, said it regained the number one position in the overall market at the end of 2008 because it had achieved a 27% market share in the IFA channel in Q4.

“We have been prudently managing our risk in the turbulent property market, reducing our LTV scale twice since November 2008 and limiting the percentage of property value we will offer for higher risk properties.

He added: “The current market position has an upside for equity release in that with fewer house sales and difficulties getting credit, equity release remains an attractive option.”

Cheltenham & Gloucester plc

2009-04-14T08:06:00.000-07:00

Cheltenham & Gloucester plc (C&G) is a mortgage and savings provider in the United Kingdom, a subsidiary of Lloyds Banking Group. C&G specialises in mortgages and savings products. Previously, C&G was a building society, known as the Cheltenham and Gloucester Building Society. C&G is one of the largest mortgage lenders in the UK. Its headquarters are in Barnwood, Gloucester, Gloucestershire, England.

Cheltenham & Gloucester Mortgages
C&G mortgages are built around you. Find a range of mortgages such as fixed-rate, tracker, or buy-to-let mortgages. Whether you’re a first-time buyer, ...

Insurance Providers

Mortgage Further Advance

2009-04-14T08:00:00.000-07:00

A mortgage loan is a loan secured by real property through the use of a note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan. However, the word mortgage alone, in everyday usage, is most often used to mean mortgage loan.
Further advance
This is an additional loan by a lender to the borrower.
If you wish to raise money against the value of your home - go see your home lender.
A further advance to release more money on your home, is sometimes referred to as a second mortgage. It will usually be secured by the existing mortgage deed.
You may wish to take out a further advance to pay for property improvement, a new car, school fees, or to buy shares, to invest in a private business etc.

If the equity in your property (i.e. it"s worth substantially more than the outstanding mortgage) you"ll be able to extend your loan - although not necessarily at the same interest rate as your existing home loan.

Releasing Equity By Remortgaging

2009-04-14T07:50:00.000-07:00

Thousands of people switch mortgage provider each year, some to save money, others as a means to borrow more cash.

What factors should you bear in mind when switching mortgage providers.
Can remortgaging really save money?

It depends. It is estimated that more than half of all borrowers are continuing to pay over the odds for their mortgage each month. Usually these people are paying the lender's standard variable mortgage rate. There will be lower rates available from other providers.

But this is not the whole story.
In recent years, banks and building societies have been hiking mortgage fees to subsidise attractive headline interest rates. So called mortgage arrangement fees have sky-rocketed as have charges for redeeming a mortgage.

As a result, you have to do the sums to make sure that what you gain through switching provider - a lower rate of interest - is not lost through higher charges.

If you are tired into a remortgage a secured loan (second mortgage) could also be used to release equity from your property

Many people consider taking out a refinance remortgage to consolidate existing debts into one manageable monthly mortgage payment. ...

Compare Equity Release Schemes First.

2009-03-07T07:15:00.001-08:00

Equity Release Plans. New comprehensive factors has led to the quantity of money lent under Equity Release schemes falling by 2 3rds over the last year. The quantity of equity withdrawn from houses in the 1st 3 months of 2008 was £5bn, which is down from just about £14bn in the corresponding quarter of the prior year, and down £7. The issues related to the credit markets certainly accounts for the drop in equity withdrawal, that has meant that most lenders had to tighten the conditions of their lending. The principle UK economic expert of Worldwide Understanding , Howard Archer, asserts the low expansion in disposable revenue, which is partially because of a pointy drop in equity withdrawals from houses, will put bigger pressure on consumer expenditure.

Less cash to pay rising household bills, higher mortgage rates, tighter lending conditions, elevated food prices, increased debt levels and rising unemployment will result in a long period of reintrenchment, he adds. Other plans mean the house owner essentially sells part or almost all of their place to gain revenues or one-off sum, with the other party benefiting when the house is sold.

Much has been written bout the discussions of this approach. They need careful comparison, too, because their charges, charges, rates, techniques of calculation, fiscal strength and so on, are all different. An equity release aide should be a very qualified person who knows the market and the plans awfully well. The fiscal ell being of their clients relies heavily on the confidant having the ability to do an excellent job of giving the proper recommendation. It is much more complicated than simply deciding if Equity Release is the correct move or not. An Independent Monetary counsellor has several advantages in this situation.

The amount you can borrow depends on your age and the value of your house. As an example an individual aged sixty could generally borrow 23% of the value of their home, while someone that is 72 could raise 35%. You could have to reimburse part of the loan if you move to a home of lower price. Old parents are suggested to consult their kids before taking out equity release as any call will result on their future.

Remortgage To Release Equity By Improving IR.

2009-03-05T00:15:00.001-08:00

You've been paying on your home loan for quite sometime and you believe that your cash serves no purpose except paying for your loan. The thing you do not know is that there's latent money in your mortgage that desires to be cropped.

Now you most likely ruminating between mortgage payments and private finances, where is the place for latent money? There actually is. You can improve interest rate thru remortgage if your present bank or your new bank proffer a lower APR. The new remortgage deal with give you access to lower and improved IRs. Best Deal You get from Solid Assets is Lifetime Mortgage when you're considering a mortgage equity release, take a more detailed look at the sort of mortgage that's advantageous for your financial wants. There are 2 types of equity release : the Lifetime mortgage and the Home Reversion plan. Rather than lending the total amount identical to the property worth, the borrower takes only the obligatory amount guaranteeing share of the property as the safety. You don't need to distribute payments till the plan matures. Even if the plan matures and you weren't in a position to straight away pay for your scheme amount and the added interest costs, the most they can extract is just the price of your property, without you needing to pay any extra charges. This is what makes lifetime mortgage ideal and preferable compared to other fiscal establishments that offer money borrowing. If you are fifty five or older, are a property owner, the property is considered the standard construction in the United Kingdom central authority, and your property price is at least £ 75,000 then you're a high applicant for an entire life mortgage. Improved rates are the first reason why folks need to remortgage. One of the cardinal criterions for improved IR remortgage is the rise in the equity of the property which is placed for remortgage. Thanks to the lower risk involved, banks are supplying self certified mortgages at improved rates. Self employed borrowers could not get a remortgage as the changes in their earnings could not keep up with enlarging rates. Improved rates if this is your inducements, then you need to sign up for remortgage. Could be immediate results are not according to your expectancies but long term benefits are large.

Mortgage Equity Release or Home Reversion Plan : Decide Which is perfect.

2009-03-02T23:15:00.001-08:00

Rather than lending the total amount identical to the property worth, the borrower takes only the necessary amount guaranteeing share of the property as the safety. Whichever is convenient for the borrower, the mortgage Equity Release company offers a better financing scheme compared to the Home Reversion plans. You don't need to distribute payments till the plan matures. However, an assuring law in lifetime mortgage states non-negativity of equity value is defend, therefore leaving you the valuation of your property as the upset amount and nothing else. This is what makes lifetime mortgage ideal and preferable compared to other money establishments that offer cash borrowing. The quantity of equity withdrawn from houses in the 1st a quarter of 2008 was £5bn, which is down from nearly £14bn in the corresponding quarter of the year before, and down £7.

4bn from the last 3 months of 2007, according to statistical data issued by the BoE. The New Equity Withdrawal figures are defined as further borrowing secured with houses that is not used for the improvement or acquisition of homes. Q4 could be blamed on the passing of Northern Rock, which had been a player in this expert market, according to Andrea Rosario, the head of SHIP, the industrys trade organisation. She was expecting that a rising number of aged folk would select equity release in the 2nd quarter as they struggle to meet increasing costs. Here are some fascinating facts about equity release. If you are fifty five or older, are a property owner, the property is regarded a standard construction in the United Kingdom presidency, and your property worth is at least £ 75,000 then you're a high applicant for an entire life mortgage.

Remortgage To Release Equity By Improving interest rate.

2009-03-01T05:15:00.001-08:00

Now you most likely ruminating between mortgage payments and private finances, where is the place for latent money? There actually is.

In 2004, the IRs on mortgages increased after so many years. Remortgage will help to release the equity present in their home. Lower rate of interest offered at remortgage will positively help the release in equity.

You could need to refresh your rates with your mortgage bank. You can improve IR thru remortgage if your present bank or your new bank proffer a lower APR. The Lifetime Mortgage on the other hand, without delay, provides you either spot money or a regular installment. A mix of both may also be supplied depending on the concluded term. You don't need to distribute payments till the plan matures. Interest fees, which is building up whilst the loan remains delinquent are added and subtracted once the property is sold. Get some more info on Lifetime Mortgage. One reminder is that once the interest charges starts to extend the property worth will finally decrease and become nil if the mortgage remains unsettled. This is what makes lifetime mortgage ideal and preferable compared to other money establishments that offer cash borrowing. This can further reduce the remortgage costs. The costs of homes have risen dramatically over the last 5 years leading to giant equity at the disposal. We make large efforts, to save a pound or a 2 on weekly shopping, but extraordinarily effortlessly overlook the giant savings we are able to encase if we select remortgage.

Owners Have 2nd Thoughts About Equity Release.

2009-02-24T23:15:00.001-08:00

The Lifetime Mortgage on the other hand, without delay, provides you either spot money or a regular installment. A mix of both may also be supplied depending on the concluded term. One reminder is that once the interest fees starts to extend the property worth will ultimately decrease and become 0 if the mortgage remains upset. Even if the plan matures and you weren't ready to straight away pay for your scheme amount and the added interest costs, the most they can extract is just the value of your property, without you needing to pay any extra costs.

This is what makes lifetime mortgage ideal and preferable compared to other fiscal establishments that offer money borrowing. New comprehensive standards has ended in the quantity of cash lent under Equity Release schemes falling by 2 3rds over the last year. It thus represents additional funds to fuel consumption spending and reinvestment. Equity Withdrawal capital is especially accounted for by increased borrowing by owners when they remortgage, but aren't looking to purchase a new house and folk who sign in for secure loans. The issues related to the credit markets almost surely accounts for the drop in equity withdrawal, that has meant that most banks had to tighten the particulars of their lending. The principle UK financial consultant of World Understanding , Howard Archer, asserts the low expansion in disposable income, which is partly because of a pointy drop in equity withdrawals from homes, will put greater pressure on consumer expenditure. Less cash to pay rising household bills, higher mortgage rates, tighter lending conditions, elevated food costs, increased debt levels and rising unemployment will result in a long period of reintrenchment, he adds. Normal equity release schemes, which have been singled out at the over 50s, have seen a fall in the quantity of capital withdrawn during First-quarter . This autumn might be blamed on the passing of Northern Rock, which had been a big player in this expert market, according to Andrea Rosario, the head of SHIP, the industrys trade organisation. Fighting for an equity mortgage release, be assured that your rights are guarded as the FSA regulates mortgage corporations. There are few things you have to give correct thought before you make your move, as this may have effects on your possession and the probable inheritance of your successors.

House owners Have Second Thoughts About Equity Release.

2009-02-22T22:15:00.001-08:00

Best Deal You get from Solid Assets is Lifetime Mortgage when you're considering a mortgage equity release, take a more detailed look at the kind of mortgage that is advantageous for your financial desires.

The later is regarded a sort of mortgage release where the property owner sells a part or the entire property in return for the required cash. A mixture of both may also be provided relying on the concluded term. Whichever is convenient for the borrower, the mortgage Equity Release company offers a better financing scheme compared to the Home Reversion plans. One reminder is that once the interest costs starts to extend the property price will finally decrease and become 0 if the mortgage remains upset. New severe criteria has led to the quantity of cash lent under equity release schemes falling by 2 3rds over the last year. 4bn from the last a quarter of 2007, according to statistics issued by the UK Central Bank. The New Equity Withdrawal figures are outlined as further borrowing secured with houses that is not used for the improvement or acquisition of homes. It so represents additional funds to fuel consumption spending and reinvestment. The issues associated with the credit markets pretty much certainly accounts for the drop in equity withdrawal, that has meant that most banks had to tighten the conditions of their lending. Housing equity withdrawal has a few other uses including topping up allowances, clearing obligations and money investment.

Struggling for an equity mortgage release, be assured that your rights are shielded as the FSA regulates mortgage corporations. 2nd is the full amount amassed across the term, which is unfixed. 4th the chance of your folks not inheriting because of the amassed interest being added, which might result to the property having 0 value at the end of the term. When you sign up for a whole life mortgage makes certain that, you have the payment capacity and you can take responsibility.

Home Owner Loans Explained.

2009-02-19T01:15:00.001-08:00

These kinds of loans can be legally used for any reason you see fit and are available to just about all owners.

One of the most accepted kinds of home owner loan you may see are debt consolidation loans where the plan is to dramatically cut back your monthly spend to a more sustainable level.

Another reason for trying for a home owner loan may be if you've a below par credit score.

It is a fact the majority of banks look more approvingly on those people that own their own home, since this is proof a commitment has been made to reimburse a significant amount of cash over an extended period. And , the most extreme case eventuality is that you are facing the real prospect of losing your home should you fail to meet the payments.

If you're a home owner, the bank knows they may get their cash back often. The thing you do not know is that there's latent cash in your mortgage that should be cropped. In this year, the eventuality is positively favourable. Remortgage is continuing as a driver, particularly for mortgagers whose mortgage is coming to a close. For almost all of folks remortgage remains a reason for quandary. Remortgage will help to release the equity present in their home. Lower IR offered at remortgage will positively help the release in equity.

A home owner loan has the advantage of providing you with a cost effective, low rate alternative to an individual loan.

A home owner loan is an economical, low cost, lower rate loan secured with your property.

Most home owner loans will let you borrow from five to 70 five thousand. It's probable that you can get a home owner loan even if you have been refused an unsecured loan during the past.

Home owner loan rates are usually tied to the base interest rate, frequently depending on your standing.

The monthly payments for a home owner loan will always rely on the amount borrowed and the term of your loan.

A home owner loan can help you with stuff like property restorations like a brand spanking new kitchen or a luxury bog.

Learn more on the subject of Home Reversion

Mortgage Equity Release or Home Reversion Plan : Decide Which is perfect.

2009-02-15T23:15:00.001-08:00

Best Deal You get from Solid Assets is Lifetime Mortgage when you're considering a mortgage equity release, take a more detailed look at the sort of mortgage that is advantageous for your financial wants. There are 2 categories of Equity Release : the Lifetime mortgage and the Home Reversion plan. The later is regarded a sort of mortgage release where the property owner sells a part or the entire property in return for the required money.

Rather than lending the full amount identical to the property worth, the borrower takes only the required amount guaranteeing share of the property as the safety. The lifetime mortgage on the other hand, without delay, provides you either spot money or a regular installment. One reminder is that once the interest fees starts to extend the property worth will ultimately decrease and become 0 if the mortgage remains upset. Even if the plan matures and you weren't ready to straight away pay for your scheme amount and the added interest costs, the most they can extract is just the value of your property, without you needing to pay any extra charges. The principle UK economic guru of Worldwide Understanding , Howard Archer, claims the low expansion in disposable earnings, which is partially because of a pointy drop in equity withdrawals from houses, will put bigger pressure on consumer expenditure. Less money to pay rising household bills, higher mortgage rates, tighter lending conditions, raised food costs, increased debt levels and rising unemployment will result in a long period of reintrenchment, he adds. Housing equity withdrawal has some other uses including topping up allowances, clearing liabilities and financial investment. She was expecting that a rising number of aged folks would choose for equity release in the 2nd quarter as they struggle to meet increasing costs. Here are some fascinating facts about equity release. If you are fifty five or older, are a property owner, the property is regarded the standard construction in the United Kingdom state, and your property value is at least £ 75,000 then you're a high applicant for a whole life mortgage. There are few things you need to give correct thought before you make your move, as this could have effects on your possession and the likely inheritance of your successors. One is the interest rate, which is reasonably high.

Remortgage To Release Equity By Improving interest rate.

2009-02-14T02:15:00.001-08:00

Free up the financial worth tied up in your property by asking your financial counsellor for info on a secured home owner loan.

You would be dazzled at the variety of reasons folk quote when making an application for a home owner loan. This kind of loan can actually get you out of an evil hole that many folk find themselves in these days.

Another reason for signing up for a home owner loan might be if you've a below par credit score.

It is a fact that the bulk of banks look more approvingly on those people that own their own home, since this is proof a commitment has been made to repay an important amount of money over an extended period. Click the link if you need information about Home Reversion.

You've been paying on your mortgage for quite sometime and you believe that your cash serves no purpose except paying for your loan. Now you ruminating between mortgage payments and private finances, where is the place for latent money? There definitely is. Due to this mortgage has appeared dear and remortgage has suffered as an effect. Remortgage is continuing as a driver, particularly for mortgagers whose mortgage is coming to a close. For almost all of folks remortgage remains a reason for quandary. Lower interest rate offered at remortgage will positively help the release in equity.

A home owner loan is the very thing if you would like to raise an important amount, are having difficulty getting accepted for an unsecured loan, or have a not so clean credit report.

Home owner loan rates are usually tied to the base interest rate, frequently depending on your standing. Why not take that once in a lifetime vacation, get your red sports vehicle or speedboat? Or you can use the cash for more everyday stuff like paying back mastercards or other obligations to chop your monthly spend to a more acceptable amount.

Home Owner Loans Explained.

2009-02-10T23:15:00.001-08:00

Free up the financial worth tied up in your property by asking your monetary aide for info on a secured home owner loan. One of the most accepted sorts of home owner loan you can see are debt consolidation loans where the plan is to dramatically cut back your monthly spend to a more sustainable level.

Another reason for signing up for a home owner loan may be if you have a below par credit report. You may find a lot of home owner loan outfits will accept an adverse card loan application. Plus, the most extreme case eventuality is that you are facing the real prospect of losing your home should you fail to meet the payments. If you're a home owner, the lender knows they're going to get their cash back regularly. Due to this mortgage has appeared dear and remortgage has suffered as an effect. In the present year, the eventuality is positively favourable. Remortgage is continuing as a driver, particularly for mortgagers whose mortgage is coming to a close.

Remortgage will help to release the equity present in their home. Lower IR offered at remortgage will definitely help the release in equity. It frees up the spare equity ( the value of your home minus the present borrowing ) in your property and lets you use it for whatever you want.

Fabio Marcell is a seasoned contributor to plenty of offline and online books specialising in the financial sector.
Home Reversion

Remortgage To Release Equity By Improving IR.

2009-02-10T02:41:00.001-08:00

Ways to Release Equity Locked Up In your house For Immediate Use.

Free up the financial worth tied up in your property by asking your fiscal aide for info on a secured home owner loan. Secured home loans can be so easy to make an application for and can be employed for any purpose like, home restorations, a new car, a luxury getaway, to repay charge cards or mastercards and even debt consolidation.

You would be dazzled at the variety of reasons folks quote when making an application for a home owner loan.

another reason for making an application for a home owner loan may be if you have a below par credit score.

It is a fact that the bulk of banks look more approvingly on those folks that own their own home, since this is proof a commitment has been made to reimburse a substantial amount of cash over an extended period.

And , the most extreme case eventuality is that you are facing the very real prospect of losing your home should you fail to meet the payments. If you are a home owner, the bank knows they may get their cash back often. You have been paying on your mortgage for quite sometime and you suspect that your cash serves no purpose except paying for your loan. Now you almost certainly ruminating between mortgage payments and private finances, where is the place for latent money? There definitely is. Due to this mortgage has appeared pricey and remortgage has suffered as a result. In the present year, the eventuality is positively favourable. Here is lots more stories about Equity Release Plans. With such low IRs folks have gained confidence in remortgage. Lower interest rate offered at remortgage will positively help the release in equity.

A home owner loan is an economical, low cost, lower rate loan secured with your property.

A home owner loan is just the thing if you would like to raise an important amount, are having difficulty getting accepted for an unsecured loan, or have a not so clean credit report.

Home owner loan rates are invariably tied to the base IR, regularly depending on your standing. Why not take that once in an entire life vacation, get your red sports auto or speedboat? Or you can use the money for more mundane things like paying back cards or other obligations to chop your monthly spend to a more acceptable amount.

Equity Release Plans

2009-02-09T13:27:00.001-08:00

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