Later in life, you may need to raise some money, either as a cash lump sum or to provide additional income for an expensive purchase, equity release may be the solution. We will advise you whether it would be more appropriate to take on a lifetime mortgage to release some of the equity on your property with a home reversion scheme, identifying the risks involved, and, if you are in retirement, look at how it may affect your estate.
Although not advised in most circumstances because of the extra costs you face, when you may need to raise a large sum of money quickly, Parsonage can also help you select a suitable home reversion planequity release scheme to sell and rent back your home. In the end, the cost to your family may well depend on the solution you choose now, so professional advice is vital.
- investigating in detail, what level of income you will receive
- comparing the return on investment, should you choose to invest
- helping you calculate how much you need to raise
Equity release could involve a lifetime mortgage or home reversion plan.
To understand the features and risks of these products ask for a personalised illustration