Recent figures from Safe Home Income Protection (SHIP) show that the number of Equity release cases taken out in the final quarter of 2011 were up 15% based on the same period for 2010. With pressure on people’s pensions, poor returns from annuities and cost of living ever increasing it’s not hard to see why.
People are looking for other ways of getting a bit of extra income to help them during retirement and Equity release is proving to be a very popular way of helping. In basic terms Equity Release is a way of releasing money from your home whilst still being able to live in the property. People decide to release money for a number of reasons such as helping with the cost of living, to pay for some home improvements, helping other family members onto the property ladder, to pay for that holiday you always wanted or, to put it another way, for any reason you want. For example, you can actually release up to 65% of the value of your home this way, and this can have a significant effect on your quality of living going forward
There are several different ways of releasing money from your property all have their advantages and disadvantages. It is important to speak with someone suitably qualified to find out if equity release is right for you.
If you would like to find out more feel free to contact Luke Ashton at HFS Milbourne on 01483 468 878 or email firstname.lastname@example.org