Equity Release for School Fees

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Equity Release for School Fees

As standards in state education are so variable, more and more parents today are keen to privately educate their family. Far fewer parents however can afford to cover all the costs involved from income alone.

Independent school fees can vary enormously depending upon the child’s age and the location of the school but on average, the cost for a day pupil is around £7,000 per year. On the whole, school fees tend to increase on an annual basis as the children get older. In addition to fees, there are also other expenses such as meals, uniform, school trips, music lessons etc. These could add as much as a further 10% to the total cost.

Independent school fees can vary enormously depending upon the child’s age and the location of the school but on average, the cost for a day pupil is around £7,000 per year. On the whole, school fees tend to increase on an annual basis as the children get older. In addition to fees, there are also other expenses such as meals, uniform, school trips, music lessons etc. These could add as much as a further 10% to the total cost.

If you do decide to send your child or children to a private school, it is a good idea to plan for future years’ fees to avoid disruption to their education in case circumstances change further down the line. If you have some equity in your home, one possible way to help meet the costs of private education for your children could be to re-mortgage and release some extra cash at the same time. It is always worth regularly reviewing your mortgage anyway as you could save money by getting a better deal. There are a great many competitive re-mortgages available at the moment.

If you would like to know more about releasing the equity in your home for your child’s education or for any reason, please complete an Equity Release Mortgage Enquiry Form and we will arrange for one of our advisers to contact you. Or you could call us on 0808 156 2670.

 

Equity Release Options
Buying a car	Overseas property
Buy-to-let property	School fees
Debt consolidation	Start a new business enterprise
Home improvements	Travel and holidays
Let to buy property	University fees