How equity release schemes work
With an equity release scheme:
The available equity you have in your home is the value of your home assessed as the "open market value" less any mortgage or other debt secured against it. So equity release can be described as a way of raising the cash value of the equity in your home, but without having to move out of it.
There are two main types of equity release:
The content of these website pages regarding equity release schemes are intended for information and general interest only and should not be taken or construed as advice. Equity release schemes are complex and you should always consider taking professional advice before committing.
Thanks go to "Moneymadeclear" for some of the content on this website about equity release schemes.
from the UK's Consumer Financial Education Body (CFEB). When it comes to
your money, their impartial information and tools can help you work out
what's right for you.
Fill in the form below and a mortgage advisor will make contact with you to discuss equity release, and answer any questions you may have.