If you are a cash-strapped homeowner over 55, an equity release scheme could be ideal for you.
Many older people have a lot of home equity – value tied up in their property – but would like more ready money. Using a lifetime mortgage or reversion scheme could give you a release of equity, as a lump sum or in regular payments, to supplement your income.
It is essential that you seek professional financial and legal advice before signing up for equity release, as it will impact on your estate.
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