Equity Release Options ExplainedApollo Pension & Investment Advisers | Medway, Kent
Equity Release provides home-owners over the age of 55 with the opportunity to release money from their home to supplement their income during their retirement.
Equity release can provide you with the facility to release monies from your home without necessarily having to make any monthly repayments.
It can be arranged to provide you with an initial lump sum to cover any requirements now as well as the possibility of accessing further withdrawals in the future from a pre agreed reserve facility.
The money you release could be used for a variety of purposes such as funding your retirement, clearing some existing debts, providing your family with financial assistance or covering the cost of a once in a life time trip or purchase such as a new car.
If you are thinking how you could release the equity in your property to support you in your retirement we are able to advise you as to which Equity Release product will suit your needs.
There are two main types of equity release products:
A lifetime mortgage is a mortgage secured against your home, which allows you to release a cash-lump sum from the equity (or value) held in your property. With a lifetime mortgage, you retain ownership of your home and can still benefit from any price increases.
Home Reversion Plans
Home reversion plans involve selling part or all of your home to a home reversion provider in return for a cash lump sum. This is usually higher than the sum you can raise from a lifetime mortgage. While all or part of your home will belong to someone else, you can remain living there for the rest of your life rent-free.
Apollo Advises clients on lifetime mortgages only.