Release the value of your home

The housing boom of recent years has seen many of the homes we own rocket in value. When we reach the end of our mortgage life the difference between what we still owe and the value of our property (the equity) can be a huge sum. But, unless we want to move house, this equity doesn't actually mean anything in real terms. It's surely nice to have but we can't use it!

There is, however, a way to release this equity to work for you - via equity release products. As we approach retirement age many of us will have to learn to exist on state pensions which, after earning all our lives, can be a bit of a shock. Your standard of living can become tight to manage - even though you could be sitting on hundreds of thousands of pounds worth of equity in your home. Take out this type of plan and you can free up this money now.

Making retirement easier

You can, of course, take the view that your equity will ultimately be released to your children after your death so it's best to leave it as their legacy. But, what happens if you ultimately need residential care? Your property and its equity will work against you here and you'll be expected to pay for care if you have assets over a certain amount. You'd be surprised how quickly this will eat away at the equity you have.

With an equity release option you can, quite simply, stay in your house and boost your income now. It's hardly any surprise that so many of us are opting for this as a solution to our financial circumstances in retirement. After all, it's your equity so you should make the most of it!

Making sense of bad press

You'll probably know that equity release schemes haven't always had such good press. In the beginning of their popularity a few unscrupulous lenders took advantage of some consumers and signed them up to less than fair deals. The situation with the release of equity nowadays is much different.

Much of the change that has taken place is thanks to an organisation called Safe Home Income Plans (SHIP). To become a member of this body, equity release companies have to abide by a voluntary code of conduct, which gives consumers some degree of security.

Finding the best release option for you

One of the problems associated with these types of schemes is linked to their popularity. In the beginning only a handful of companies offered this kind of release system and your options were limited. Nowadays, however, there are hundreds of different types of release options. It may not be hard for you to release the cash you need but it can often be extremely difficult to make the right choice.

For this reason, the industry recommends that you take the advice of specialist equity release experts before coming to a decision. Our teams of experienced brokers have their finger on the pulse of the sector and can help guide you to the right choice for you, at the right time.

To get the best deal on the market you really do need to have access to the entire equity release sector. Not all products are the same - they won't have the same conditions, terms or release options. We can help you find the ones that suit you best. You can be assured that you get the very best deal with all the additional discounts we can negotiate on your behalf. So, whether you simply need advice or want to find the right release scheme we can help you out - our services won't cost you a penny but could save you thousands!

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