EQUITY RELEASE PLANS
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| Equity Release Plans enable retired
homeowners to realise capital tied up in their property without
having to sell their homes. |
| An Equity Release Plan can provide
you with a cash lump sum, to do whatever you want, for example:
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| Help towards household bills or unexpected
expenses |
| Keep the car on the road - or buy
a new one |
| Pay for home improvements |
| Help you carry out your retirement
plans |
| Pay for you to take your holiday,
or visit relatives abroad |
| Provide for long term care in the
future |
| After all retirement is a time when
you should be able to enjoy the rewards of your hard work. |
| Over the years your home will have
provided you with, comfort and security and now it is probably
your greatest asset. This asset could provide you with your greatest
opportunity, allowing you to unlock the money that is tied up
in your home and ensure a more secure financial future. |
| An Equity Release Plan gives you the
Freedom to move home to another property if you wish. |
| An Equity Release Plan can provide
you with future cash releases if you need to borrow more in the
future, subject to lending criteria. The availability of further
loans is not guaranteed. |
| With an Equity Release Plan there are no repayments
during your lifetime unless you sell your home. That means you
can use the cash however you wish, without the worry of monthly
repayments. Continue to enjoy the financial benefits of home ownership;
any increases in its value over the years will benefit you. |
| We can arrange two different options: |
| Option 1 - Mortgage Option a legal charge
is secured on your home and a cash sum, which you may spend as
you choose. |
| Option 2 - Shared Growth Option, you may
transfer between 30% and 90% of your property, in return for a
tax-free cash sum. You will be free to spend or invest your cash
in any way you wish. |
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