Equity Release
An Introduction to Equity Release Plans
Retirement is a time when you should be able to enjoy the rewards of your hard work and look forward to doing the things you like to do best.
Retirement is no longer regarded with trepidation, as today we live and remain fitter for longer. As a result your retirement could last for 25 years or more.
Over the years your home will have provided you with fond memories, comfort and security and now it is probably your greatest asset. This asset could provide you with your greatest opportunity, allowing you to unlock the money that is tied up in your home and ensure a more secure financial future.
By releasing some of the value in your home, you could have a cash sum in your hands, or an increased income... and still be sitting comfortably, or , you could leave it all to the kids?
An Equity Release Plan can provide you with the opportunity to satisfy any potential financial needs you may have. So whatever your requirements, just sit back and daydream for a moment...
- Imagine your 'dreams' becoming a reality. You could use some of your Equity Release Plan to treat yourself to a holiday break now and then...
- Closer to home - possibly your home could do with a face-lift? Improving your creature comforts, or making the garden easier to manage, could make a big difference to the way you enjoy your everyday life.
- Why not put your cash sum to work to provide you with extra income? Purchasing a Guaranteed Income Bond, a lifetime annuity, or regular income account from a bank or building society would help you meet recurring or unexpected expenses. You could relax instead of sitting there worrying.
- Independence! We all dream of it - whether it is the open road, visiting loved ones more often, or just taking a trip to the shops. Perhaps your Equity Release Plan could put you in the driving seat of a more reliable car?
One of the first decisions you will need to make is whether you require a cash lump sum, a monthly income provided by an annuity (an income for life) or a mixture of both.
Cash Lump Sum
Releasing a cash lump sum enables you to improve your lifestyle as you are free to use the money for any purpose you wish. You may choose to improve your home, make essential repairs, install facilities which enhance your standard of living or take a holiday. The choice is yours.
Increased Income
An annuity guarantees a monthly income for life. Many people today find that they have reached retirement with insufficient income available to continue the lifestyle they have been used to. As a result, many people look to supplement their income by choosing an Equity Release Plan which provides an annuity.
As you can probably see, professional financial advice is always recommended when considering these schemes, as you need to consider possible pitfalls and risks as well as the benefits. Surrey Financial Advice is here to help. Remember, with Surrey Financial Advice, any initial consultation is free of charge (apart from a cup of coffee, perhaps) and you are under no obligation to proceed. [Contact Us]
