Equity release is when you choose to release some of the funds that have built up in your home since you bought it. It’s becoming an important part of future retirement planning – and can be used to make your retirement more comfortable, or to open up exciting new possibilities.
All kinds of things, including topping up your retirement income, paying off a mortgage, to make home improvements and other things, too.
There are two types of home equity release scheme available in the market, with several variations on each. One is a lifetime mortgage.
The other type of home equity release scheme is a home reversion plan.
Equity release providers are regulated by the Government’s Financial Conduct Authority (FCA) – which offers homeowners considerable security. The specialist independent equity release advisers, also known as IFAs are also regulated by the FCA.
The Equity Release Council is the industry body which has a powerful set of rules which their members adhere to – to safeguard the public. Read More
Go to Getting Started for more information.