Equity is the term used to explain the difference between what your property is worth and any outstanding loans, such as a mortgage secured on it.
That’s where equity release could come in, allowing you to free up cash from the value of your home without the stress of having to sell up and move.
The key points about equity release are:
- You receive a tax free cash lump sum
- You can use the cash for whatever you wish
- You will not have to move house
- You do not have to repay any of the cash borrowed until the property is
sold either on your death or if you move into long term care
- You also have the option to guarantee an inheritance for your family
- You will continue to be responsible for the maintenance of your property
- You have the right to move to another suitable property without any financial penalty
- Fees will be applicable
Learn more about Just Retirement's equity release plans.
Equity release could involve a lifetime mortgage or home reversion plan. To understand the features and the risks, please ask for a personalised illustration.
Equity release is not right for everyone. It may affect your entitlement to state benefits and it will reduce the value of your estate.
Useful linksFind out more about equity release
Find out your home's estimated value at Mouseprice.com