With many people living for longer, and looking to enjoy their golden years, it is only natural that many people are looking for an additional source, or even sources, of income. It is also fair to say that many people who have reached retirement age, or are close to retirement age, find themselves living on low income, or on a lower income than they would like. If these people also find themselves living in a home that holds a high value, a sensible solution may be to release equity from their property.
This allows the homeowners to continue living in their home while having more money to spend.
It is common for equity release deals to only be available to people who are aged 55 or older and who own their property outright, which means with no mortgage or loan secured on the property. This is a very important decision and it is one that should only be undertaken after consulting with an Equity Release Specialist. At Hale Mortgages, we are more than happy to talk you through the process of an equity release and we will do everything we can to ensure you have as much information you need to make an informed decision.
Find the equity release option that is best for you
The sum of money you are able to borrow will depend on your age and the current value of your property. You will find that the older you are, the greater the sum of money you will be able to borrow.
While equity release can be of great benefit to many people, it is a decision that will impact on you and your loved ones, so it is essential that you are confident in taking a decision. At Hale Mortgages, we are happy to answer any questions you may have. We know that issues like how much of their property will an owner still own, which scheme is best for their needs and if there are any alternatives to an equity release are important and whatever questions you have, Hale Mortgages is on hand to help you make an informed decision.