Releasing Equity From Your Home To Buy Another Uk

Things you need to know about equity release.

Releasing equity from your home to buy another uk. But remember you are increasing the size of your loan. Equity release is in a nutshell a way to unlock the value of your property and turn it into a cash lump sum. You don t need to have fully paid off your mortgage to do this. Remortgaging to release equity could be a way to access extra cash perhaps for home renovation repaying short term debts or helping with your children s education.

The pros and cons of remortgaging to release equity. You can take the money you release as a lump sum or in several smaller amounts or as a combination of both. Buying a second home using equity release another option for borrowers aged over 55 is equity release. You can do this via a number of policies which let you access or release the equity cash tied up in your home if you re 55.

Due to the fact that there is already 80 000 outstanding on the current property irrespective of your age there would. Dean mirfin at equity release specialist key retirement solutions replies. Equity release refers to a range of products letting you access the equity cash tied up in your home if you are over the age of 55.