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Are you seeking to take advantage of the equity built up in your property by releasing equity from your home to be spent on anything you wish?
Are you a home-owner aged 55 or over?

If the answer to the above is “yes”, then equity release could be right for you.

For most of us, our biggest asset is our home and when it comes to retirement many people struggle to adjust to life on a smaller income.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][vc_column_text]This raises the dilemma of potentially needing to sell one’s home and downsize in order to release some of the value from the property. Whilst this is a valid option, it might be that you don’t wish to sell your home and downsize, or it might not be a good time to sell.

Equity release schemes remove the need to move home by allowing you to raise money against your property, without having to leave it[/vc_column_text][/vc_column][vc_column width=”1/2″][vc_single_image image=”1638″ img_size=”full” add_caption=”yes”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]The money that you raise can be used to generate a regular income or to provide you with a lump sum, or a combination of both lump sum and income.  Essentially, the capital is yours to do with as you wish.

You have the option of paying back the interest, or not, and the plan will run until the last person has died or moved into long-term care.  At that point the property is usually sold, with the proceeds of sale used to pay off the equity release scheme and the balance passing to any beneficiaries.

There are 2 main types of equity release schemes available:

Lifetime Mortgage – These do not usually require any repayments until you sell the property.

Home Reversion – you sell all of part of your property in exchange for a lifetime lease, which provides either a tax-free lump sum, additional income, or both.

At Investment Solutions, as an Independent Firm of Financial Advisers, we have access to the whole market in respect to the above Schemes and if you wish to have a chat, please do not hesitate to contact us.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]By Ivan Lyons, Director, Investment Solutions, Worthing

Contact Investment Solutions: Grafton House, 26 Grafton Road, Worthing, BN11 1QT. 01903 214640 or send an email to Ivan at: ilyons@graftonhouse.net or visit www.investment-solutions.co.uk
Twitter:  @investment_sols[/vc_column_text][/vc_column][/vc_row]