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Some schemes have attracted
criticism as being over complicated and offering the home
owner poor value, but equity release arranged through a
reputable experienced company is straightforward and available
to people of any age so long as they are homeowners.
In a market where house prices
have risen, home owners who have been on the property ladder
for several years have almost certainly accrued a lot of
value. But whilst that value is in their home they are
unable to use it. Equity release when you sell
your house for cash offers a way of freeing up that capital
without the need to move out and downsize. Of course,
once you have received the value of your home you will need to
pay rent to the equity release company, but the money from
your home will be yours to do with as you please. This
could present the chance to go on a holiday of a lifetime,
boost your savings or increase your monthly income. Once
you’ve budgeted for your rental payments the equity release
will allow you to be free of debt and provide you with a large
cash lump sum.
Equity release isn’t right
for everyone. If you have just started out on the
property ladder and do not own a lot of equity it is unlikely
to be for you. However, if you have finished paying off
your mortgage, or if you have a substantial equity in your
house – even if you still have a mortgage – releasing
those funds might give you the opportunity to do things you
could only previously dream about. Equity release could
even allow you to retire a little earlier than planned and do
that traveling you always promised yourself. Whatever
your goals, talk to Switch Property Services about how to sell
your house for cash, sell
and rent back with equity release, and be assured of
honest straightforward advice.
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