With the whole pension fiasco many people are struggling when in their golden years. Releasing the equity from your home can be a good way to supplement your income in retirement. Make sure you use these ten points to avoid the pitfalls.
#1 Make Sure That Equity Release Is Right For You
If you are coming near to retirement or are retired and you are a homeowner you could be eligible for a cash lump sum in the form of an equity release plan. The amount you eligible for will depend on your age, property and the type of scheme.
Regardless of the equity release plan you choose, it will still affect the amount you are able to leave as inheritance. So you should make sure that you talk things through carefully with your family first.
#2 Get Financial Advice
It is always a good idea to talk to an independent financial advisor who will be able to access your current situation and what you want to achieve and find the most suitable solution.
Make sure you ask your financial advisor about the different equity release options available, the associated costs and whether any repayment charges are payable if you decide to end your plan early.
#3...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
