How to release equity
How much equity can I release from my home? 04th Jan 2019 Equity Release For the majority of us our home is probably our largest asset which is why, regardless of whether there is an outstanding mortgage or not, an increasing number of people in the UK are choosing to release cash from their property.
An equity release mortgage lets you release cash from your property without leaving your home – so there’s no upheaval or expense. But you need to be a UK homeowner between the ages of 55 and 95 to be eligible for one of these schemes.
Equity is the difference between the value of your home and any outstanding mortgage and secured loans. For example, if your property is worth £150,000 and you have an outstanding mortgage of £50,000 you have equity of £100,000. If you do have equity in your property then you can use a home equity loan to release this.
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Equity release is, in a nutshell, a way to unlock the value of your property and turn it into a cash lump sum. You can do this via a number of policies which let you access – or ‘release’ – the equity (cash) tied up in your home, if you’re 55+. You don’t need to have fully paid off your mortgage to do this.
Equity release is a way to tap into some of the cash locked in your home. The money you release can be spent in any way you choose, whether that is on home improvements, an exotic holiday or.
Equity release is a term used for converting a smaller amount of the total value of your property into a lump sum amount that you can spend at your discretion. Phrases such as ‘unlocking the value in your property’ are often used to summarise releasing equity, but in reality it is receiving.
How Does Equity Release Work website is a trading style of Equity Release Supermarket who are authorised and regulated by the Financial Conduct Authority. FCA no 584063. Registered office: genesis centre, Science Park South, Birchwood, Cheshire.
This press release may contain certain forward-looking statements within. balance (excluding deferred financing costs and.