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- Dictionaryequity release
noun
- 1. the use of financial arrangements that provide the owner of a house or other property with funds derived from the value of the property while enabling them to continue using it: British "boosting your capital or income through equity release may mean you lose some or all of your state benefits"
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Equity release reduces the value of your estate and the amount that will go to the people named as beneficiaries in your will. Your estate is everything you own, including money, property, possessions and investments.
Equity release allows homeowners aged 55 and over to use the equity (money) tied up in their homes to assist with income or capital needs. There are two main types. In both cases, the person taking out equity release (the ‘borrower’) retains the right to live in their home.
This guide outlines equity release and suggests useful organisations that you can contact for further advice to make sure that you fully consider all the options available to you. It covers: what equity release is. different types of equity release. the risks associated with equity release.
Equity release is a way of releasing cash from your home without having to move, either by taking out a type of loan secured against your home or by selling all or part of your home to a home reversion company.
Equity release allows homeowners aged 55 and over to use the equity (money) tied up in their homes to assist with income or capital needs. There are two main types. In both cases, the person taking out equity release (the ‘borrower’) retains the right to live in their home.
explains what equity release is, who it’s available to, and where you can get advice. What is equity release? Equity release is a way of accessing some of the money tied up in your home without having to move. But it’s not as straightforward as it might first seem. Before you take out equity release, it’s important to know exactly what it
Aug 31, 2021 · By: Sally West. Published: 31st August 2021. There’s been a great deal of recent speculation about the future of the pensions ‘triple lock’ and whether, owing to the unusual economic circumstances the UK finds itself in, it could be suspended or even scrapped.
What is equity release and how does it work? Ways to reduce Council Tax; How does income tax work? How does Inheritance Tax work? How to boost your income in retirement; Looking after your money information guide; Equity release information guide
Deprivation of assets in social care. 'Deprivation of assets' is when someone reduces their assets (such as money, property or income) on purpose so that they won’t be included in the financial assessment for care home fees. If your local council decides you've reduced your assets to avoid paying care home fees, they might still calculate ...
What is equity release and how does it work? Equity release can allow you to use your home to generate income – but it comes with risks. Find out more.
