Property News · February 7, 2013

Equity release schemes: how they work


Equity release schemes enable older homeowners to tap into the value of their property without the need to sell up and move out. There are two main types of scheme – lifetime mortgages and reversion schemes – and deciding which to go for is just one of the decisions you will need to make if you decide to go down this path.Taking advice, both financial and legal, is key. Extracting money from your home could impact upon many aspects of your finances, from your eligibility to means-tested benefits to the value of your estate when you die. You need to make sure you understand and plan for any negative financial implications of equity release. Continue reading…

Source : theguardian.com
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