We find that our customers use equity release to fund a number of things in retirement from new cars to home improvements.
Common reasons for taking out equity release include the desire to maintain a certain lifestyle into retirement and to finance one-off events. Additionally, some people simply do not want to move out of their home and away from family and friends but need additional finance to be able to stay there.
Often the money they release from their home will fund several types of expenditure as the following chart shows:
Equity release may involve a lifetime mortgage or a home reversion plan, to understand the features and risks, ask for a personalised illustration.
Useful links Lifetime mortgage
Home reversion plan