The Ideal Way to Support Continuous Flow of Funds in Your Retirement
Equity plan is the most popular means to Surrey raise funds in your retirement out of your potential property or home. But the worry that arises in the mind of most of the people is that- Whether their property’s worth is v eligible for any type of equity release or not?
Well, obviously the cheapest way to get money out of the property is to sell it, this would definitely provide a good market price of the house, but after that, you would be bound to leave that house and move to some sort of rental and spend the money on the housing expenses each year.
On the other hand, it’s true that the amount that is finalized against the part or whole of your property in case of lifetime mortgage is surely less than its market value. It must be noticed here that even after completion of the deal, the owner still holds the right to continue living in residence without paying rent.
It will be a great advantage that would let the owner continue living in his/her house along with a monthly payment that keeps on adding up to the interest. This value is later extracted by the company once you die or move out of the house, by selling it.
Benefits of Equity Release
- Obviously, the plan gives you complete authority to live in our own house and the fund is released completely on the basis of your choice.
- There is no scope for any negative equity, no matter whatever the situation it is.
- The criteria are extremely flexible where you get to choose when you need the amount and in what quantity from the overall lump too be given by the provider.
Hence, it is extremely clear and prominent that the ideal way to raise fund for retirement to continue a comfortable living can be hardly by any other mean but equity release.