An equity release mortgage can help you in numerous ways. You can use the money you release however you like. However, always contact us before choosing this option as we can help you to understand the full advantages and disadvantages.
- – It can help you pay for care needs.
- – It can release pressure on you if creditors are chasing you for payment (repaying an existing debt or mortgage).
- – You can help your children with financial difficulties or to purchase their own home.
- – You can travel and do things you’ve always wanted to do.
- – It can help with long-awaited home improvements.
- – It can increase your income, helping you live more comfortably and enjoy your retirement.
It’s important to note that even though there are obvious advantages, disadvantages include the fact that if you plan on passing assets to your loved ones once you pass away, an equity release mortgage could result in them inheriting less.