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...