Equity release products have proven to be a useful retirement tool, whether the cash is used for necessary expenses, building up savings, or following through on lifelong goals or dreams that couldn’t be pursued during the working years.
Many homeowners use retirement mortgages to provide their own ideal life during retirement. The cash received from equity release during retirement can certainly accommodate that lifestyle and provide for traveling and exploring, but it can also be used for the more practical expenses of retirement. You can use the money to make necessary repairs to your existing home or to purchase a new one. You can use it to set aside extra money or gifts for your children, grandchildren or other loved ones. You may want to relocate to live closer to family in which case extra cash could certainly come in handy. Regardless of the reason, extra money during retirement can help supplement existing savings and can serve to provide a more comfortable retirement.
There are many equity release options currently available. They all offer various features and it can be a bit confusing trying to determine the best product for your individual situation. Because of this, it is important to choose an equity release adviser that can help highlight different products to you, based on your individual situation. An adviser can also show you each of the products on the marketplace and highlight the pros and cons of each of them. We have a nationwide team of equity release providers that can show you each of the products available and how they might suit your needs. We provide a free initial consultation that includes specialist advice through your preferred medium of contact. We can meet face-to-face, through email, using live chat, or over the phone. All advisers are FCA regulated and are members of the equity release council. Because of our credentials, we are fully equipped to explain the benefits available to you and are happy to assist you in choosing the ideal product.
Alternatively, if you’d like to conduct your own research on equity release schemes available based on your personalised criteria, then use our free smartER research tool.