Articles Directory | Free Articles | New Articles Daily | Equity release is great way to fund retirement

What do you think about life after retirement? If you look at the factors like freedom from work, then it is surely it sounds amazing; however it becomes difficult for retirees to manage their daily expenses even though they may have a pension plan in place. The recession has hit everyone hard with many people’s pension pots not as rosy as they would’ve hoped. Under these difficult circumstances many people have had to look at alternative solutions to help fund their retirement, with equity release being one of them.

An equity release scheme allows you to sell all or part of your home for a cash lump sum or regular income. You are entitled to stay in your home until you move into long term care or when you pass away. There are many equity release providers on the UK market offering a wide range of equity release schemes; however it is important that you seek independent financial advice from an equity release specialist to ensure that the information you are receiving is completely in benefit of you and your individual circumstances.

You can find out much you may be able to release today through an equity release calculator.

If you are worried about the retirement age affecting you and your income, then have you considered equity release? A way in which you can release cash locked up in your home to spend as you wish.

There are currently three types of equity release schemes; Lifetime Mortgages, Drawdown Lifetime Mortgages and Home Reversion Plans. All three schemes vary in their features so it is important that you contact an independent financial adviser to find out which type of scheme suits you.

With an equity release plan you can spend the money how and when you wish with popular choices including;

• Home and garden improvements,

• Paying off bills or outstanding debts,

• Holiday and travel,

• Treating family members or friends,

• Generating income for day-to-day living,

• Paying for a special occasion or celebration,

• Paying for medical or residential care.

Equity release is a big financial move that shouldn’t be taken lightly; however there are easy ways you can find information and advice trough the simple clicks of a mouse.

Firstly you can use an equity release calculator to find out how much you may be able to release from your home. An equity release calculator works on the basis of your age and property value. In seconds you can find out how much you may be able to release. There are also equity release plans available which take into account your health and lifestyle so speak to an independent adviser today to find out more.

If equity release is to be your next move then make sure that you consider plans that offer the following guarantees:

1. A no-negative equity guarantee, so you can never owe more than the value of your home,

2. The right to remain in your home for as long as you choose,

3. The freedom to move to another property without financial penalty (subject to criteria).