How can you Release Equity on Your House to Avail Benefits?

May 7, 2012   ·   0 Comments

House equity release helps the people over 55 years to release some tax free money from the actual value of their property. The equity release provides a chance for additional income to the property holders. They can either have the money at lump some or by installments. The additional income serves them enjoyment in their retired life.

http://stockssavvy.comIt is very important to release equity on your property. The increased standard of living and the rising cost of the products have made it difficult for the elders to bear the cost. The retired people generally suppress their standard of living to meet the financial crisis. The equity release plans put extra money on their hand and enables them to enjoy their retired life freely.

The conception of equity release has gained momentum in the last few years. The entrance of various insurance agencies in this field has widened the horizon for better competition. Some companies even lowered the interest rate so that the customers can enjoy a good monetary flow.


House Equity Schemes

– This plan allows you to receive money without any payments. The amount of money will depend on your age and value of your property. With the help of this plan you continue to live in the house for the rest of your life. You can take money in monthly installments or at a time. In this scheme the lender never owns your house. The lifetime mortgages have to be paid off if you sell your house or move permanently. The interest rate is based on the amount you borrow.

– This indicates that you are selling a part of your house. Here you get the market value of that part of your house and you continue to live in that house for rest of your life. When you sell the house the company will receive a percentage from that sale.


Author's bio- The author, Jonathan james has a keen erudition on finance and he writes various articles that are related to finance. Financial topics are something which you can't do away with, and he does an extensive research on this subject matter.

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