What are the Pros and Cons of Equity Release?

Equity release has come a long way since regulation in 2007, as the UK’s 55+ population seek to safely take advantage of their biggest asset to fund their ambitions. For years, you have been steadily building up the equity in your home by making mortgage payments every month. There are ways to take advantage of this home equity using modern, regulated financial tools which allow you to safely and flexibly access your property wealth, to spend as you choose.

There are many pros to taking equity release, the money you withdraw from your property is tax-free and can be spent as you wish with no monthly repayments to make, unless you choose so. If you are still making monthly mortgage payments, releasing equity in your home may be the answer to your financial concerns it will allow you to become repayment mortgage free, meaning you can reduce your monthly outgoings and free up cash for more rewarding things.

Imagine the difference the money could make in everyday life, helping with travel, food, bills and other living expenses. You may decide that you want to make some value-adding home improvements such as an extension, attic conversion, or landscaping the garden. Consider how it would feel to have the money to take that holiday you’ve always dreamed of, perhaps visiting family that you haven’t seen for years?

There are very few cons to releasing equity but you do need to consider a few things, by taking money out of your property there will be less left later when you want to leave some money in your will, also if you are in receipt of state benefits having money in the bank may affect them.

To speak to an equity release specialist to find out more call Freephone 0800 652 2955

Equity Release Articles

  • Are You Considering Downsizing to Release Equity?
  • Being the ‘Bank of Mum and Dad’
  • Compare Equity Release Schemes
  • Defy the SPA Extension with an Equity Release Plan
  • Do High Street Banks such as TSB, Natwest and Santander etc., do Equity Release?
  • House Price Increase; Great News for Lifetime Mortgagers, Bad News for First Time Buyer
  • How Do I Release Equity From My Home?
  • How does Equity Release work?
  • How much equity can I release?
  • The Responsible Equity Release Jargon Buster
  • What are the Pros and Cons of Equity Release?
  • What is a Lifetime Mortgage?
  • Equity Release Calculator

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    Responsible For Your Comfortable Retirement.
    Responsible Equity Release is a trading style of Responsible Life Limited. Responsible Life Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (http://www.fsa.gov.uk/register/home.do) under reference 610205.

    In using this website I give express consent to Responsible Life Limited to call me on the number provided from time to time. Calls may be recorded for training and quality purposes.

    This is a Lifetime mortgage which may reduce the value of your estate and may affect your entitlement to state benefits. To understand the features and risks ask for a Personalised illustration.

    Any information contained herein is a personal opinion of the author and should not be considered to be advice of any kind. Inheritance Tax planning is not regulated by the FCA. Think carefully before securing other debts against your home. By consolidating your debts into a mortgage you may be required to pay more over the entire term than you would with your existing debt.

    Only if you choose to proceed and your case completes will Responsible Life Limited charge an advice fee, currently not exceeding £1,295. Our adviser will talk through the setting up costs of a lifetime mortgage before you make any decision to proceed.