Equity release allows you to release a lump sum from the value of your property whilst continuing to still live in your property. There will be a fixed rate of interest which accumulates on a year basis, the outstanding value will then be paid to the lender upon death.
Once you receive the lump sum it can be used for anything you wish, including retirement income, home improvements or a dream holiday.
Please note there are minimum age restriction on equity release mortgages which will vary from lender to lender. The minimum age is typically for those aged 55 and over.
KDW Mortgages will help you to:
- Discuss your reasons for using equity release to ascertain if it is the most suitable borrowing option for you.
- Highlight any implications that this may have on inheritance tax.
- Source a suitable equity release mortgage.
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