Equity Release

 

Generally speaking, the value of your Property (less any mortgage secured on it) is described as the ‘Equity’.  Some Lenders and Institutions offers Equity Release Plans to allow owners to release the Equity from their Property during their lifetime, meaning that they can obtain a Lump Sum, or Tranched Payments, whilst retaining the Ownership of their home.

Such Plans (and there are a variety of schemes available, of which Independent Financial Advisers can guide you through) are useful if you are perhaps looking to move into long term care and need to fund this, or only really have your home as your main financial asset, with no real or substantial savings, and so wish to enjoy monies during your lifetime.

At Biscoes our Team can assist you with this type of transaction to ensure that the arrangements suit your needs and will ‘work’ for you.