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Home Equity Release Mortgages




Home equity exit mortgages come under the overall umbrella of equity release and also are the most famous kind of releasing equity from a house for everyone aged over 55. Like any financial product you will find many benefits and drawbacks to the home equity release. Some consumer associations have called it a product of last resort and also many others have accepted it as a valuable preparation tool for pensioners. The principal advantages and disadvantages are listed here: Normally readily available to people as young as 55. You maintain ownership of your very own house and may still gain from any rises in house prices. 


You know just how much money you'll receive from the program at the outset. Possibility of leaving some equity into your heirs , depending upon the size and duration of your loan. Regulated by the Financial Services Authority Disadvantages Your debt will grow with time, although this might be limited by simply releasing cash you need when you need it. The whole equity on your property can be exhausted, leaving nothing for the family. If you pick to pay back your loan early, early repayment charges might apply. Your tax standing and eligibility for means tested benefits could be impacted, as may your options for move or selling your home in the long run. 

Equity Release Advice Service 

 Like any financial product before you buy you need to seek independent financial suggestions about the merits of whether it's appropriate for you. You can find other house equity release schemes available like home reversion schemes which may be appropriate and an advisor will discuss with you. Interest only home equity release plans might be appropriate for the ones who have high levels of disposable income every month and might manage to pay off the interest charged on these strategies. These schemes are available for reliable mortgage companies like the East Sussex. Independent financial advice should always be sought while looking to buy home equity release.

Read More about:-  Best Equity Release Mortgage Rates ,  Best Fixed Interest Only Mortgage Rates  OR Best Debt Consolidation Options



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Location: East Sussex, UK

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