What is Equity Release UK?
Equity Release UK provide independent information on equity release products available in the UK.
We attempt to remain independent, by not selling equity release products directly, to ensure that we can continue to provide reliable, unbiased information to you.
Equity Release Products
The main equity release products available in the UK are:
Home Reversion Schemes
An Home Reversion Scheme is ab equity release scheme whereby all (or part) of the individual's property is sold to an equity release company, entitling the individual to receive a cashlump sum or ongoing income, whilst retaining the right to live in the property rent-free until death.
Lifetime Mortgages
A Lifetime Mortgage is another popular equity release scheme which typically allows an older consumer to borrow an amount of money against the value of their property, with the interest and capital being rolled up, to be paid back upon death or subsequent sale of the property.
Interest Only Mortgages
Another type of equity release scheme is the Interest Only Mortgage, which is similar to the lifetime mortgage, but with the interest being paid by the individual rather than being rolled up. As a result, the amount which must be repaid on death/subsequent sale of the property is lower.
Equity Release Schemes - Advantages & Disadvantages
As with all finance related products, equity release schemes have a number of advantages and disadvantages. Each type of equity release scheme has its own advantages and disadvantages, which we discuss in further detail in the relevant pages.
We recommend that anyone wishing to partake in an equity release scheme should consult an equity release professional before committing to a scheme, to ensure you fully understand the risks associated with the particular equity release scheme you are considering.
Interested?
If you wish to find out more about the equity release products described above, then complete the following form and we will arrange for a qualified professional to call you to discuss your next move.
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