Equity Release Mortgage
Equity Release Line
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Equity Release Mortgage
Equity Release is a means of using the value of your home to receive either a lump sum of cash or regular monthly instalments. In all instances, age is the primary factor in determining the percentage of the value of your home that can be released.
A person of an older age can release a higher percentage of the value of their home, than a person of a younger age, as they are not expected to live as long.
There is no maximum age limit for equity release, although applications are not usually granted for anyone under the age of sixty.
| Equity Release | |
|---|---|
| Home Reversion Plans |  |
| Equity Release for over 55s | |
| Equity Release for under 55s | |
| Lifetime Mortgages | |
Important factors to consider
- Equity release, lifetime mortgages and home reversion plans are regulated by the financial services authority.
- When choosing an equity release plan, ensure that it has non negative equity guarantee. This means that the debt can never exceed the value of the property. This will ensure that any outstanding debt, after the sale of your property will not be passed on to your next of kin.
- Not all lenders will allow you to move home after you have taken out an equity release plan.
- If you are living with a partner, you must take out a joint plan to ensure that the debt will only be reclaimed after the death, or admittance into long term care, of the last surviving partner.
- There are a number of hidden charges, such as; legal fees (as a solicitor is needed to set up the equity release plan), you will be charged for the surveying of your property. There are also charges for the setting up, maintenance and redemption of the loan.
Equity Release Mortgage News
- Equity release market increasing year on year, expert states
- Customers happy with Norwich Union equity release mortgages, figures show
- Ageing population will turn to equity release mortgages, expert claims
- Mixed results for equity release mortgages, figures show
- Equity release mortgages condemned by watchdog
- Equity release customers urged to remortgage
- Equity release mortgages may have bright future
- Equity release mortgages popular, expert says
- Equity release mortgages on the rise
- Families urged to discuss equity release mortgage options
- Equity release mortgages help lifestyle choices, expert claims
- Equity release mortgages need planning
- Equity release mortgages not a last resort, expert claims
- Equity release mortgages set to grow
- Mortgage lender launches new lifetime mortgage equity release product
- Equity release mortgage set to be more popular, firm predicts
- Equity release mortgages to flourish in 2006, experts say
- More equity release mortgages needed, expert claims
- Equity release mortgages falling in popularity
| mortgages news |
|---|
| Head of Financial Services Authority calls for end to 100 per cent mortgages - Thu, 18 Mar 2010 |
| Legal and General launches new two-year fixed-rate mortgages - Thu, 18 Mar 2010 |
| Yorkshire Building Society launches lowest ever mortgage rate - Thu, 18 Mar 2010 |
| More News |
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