How Does Equity Release Work?

Equity Release Brokers > Information > How Does Equity Release Work?

Equity release is a way to access funds from the value of your property when you are over the age of 55. At Equity Release Brokers we have access to a wide network of equity release services and packages, and that is how we know we can help all of our clients, no matter the circumstances they are facing.

Generally, there are two ways in which equity release products work. The first is through a lifetime mortgage for those over the age of 55. In this instance, you borrow some of the value of your home at a fixed interest rate.

A home reversion plan on the other hand is equity release for those over the age of 65 and allows you to receive a tax-free lump sum at below market value, living in the property rent free until you die. The sale of the property is then split based on the percentage that you and the lender own.

At Equity Release Brokers we have a large number of services and plans alongside these main two ways of releasing equity in a property. You can find these on this site, but you can also speak to our team if you wish. It is important to take expert advice on any financial matters, but especially for something as important as equity release in a property when you reach an older age.

To find out more contact us today on 01277 620083 or email info@equityreleasebrokers.com.