You may very well know that you want to take advantage of an equity release scheme. There are plenty of benefits to releasing equity from your home. However, you cannot possibly know if it will work for you unless you know how much cash you can receive. You likely have plans for the cash you’d receive, which is why you know you want to tap into the equity in your home in the first place. You might want to help...
Read MoreIf you are interested in an equity release scheme, you of course want to know if you qualify. You may also want to know if you qualify for an impaired equity release, which may have the benefit of a larger lump sum payment or lower interest rate. In general, if you are older than 55 and own your own property in the UK, you may be eligible to take advantage of an equity release scheme. Of course, confirming eligibility is...
Read MoreThe Internet is often filled with old information, which makes it difficult for you as a consumer looking for products and information. In particular, you may wish to search for the Prudential equity release calculator that used to be available online. You may even find results and information about new equity release schemes, but the information is not going to be valid. The Change to Prudential Prudential is currently managing and administering their equity release schemes sold years ago. They...
Read MoreBest is often considered subjective, because what is best for you is not always best for someone else. When discussing the best equity release calculator, there are two ways to consider what “best” really means. The first is to describe what maximum release means as a means of explaining how it could apply as the best type of calculator. The second is the lowest interest rate. The Products to Explore with a Calculator Before discussion on calculators can happen, you...
Read MoreEquity means the total value of your asset after you have paid any charges or mortgage on the same. There might be a case when you wish to stay in your house, but require some funds for any reason. In this case, you can research equity release schemes to enable yourself to obtain tax free funds. There are some fixed criteria for initiating these schemes. There is a certain threshold age of 55 at which you can choose to get...
Read MoreThe first thing is not to panic. If you have identified the Aviva deal that is best for you, the closing down of Aviva’s direct sales team does not mean that you have lost your opportunity. Aviva will still be offering their equity release schemes as a lender. The simple fact is that the costs of running their sales teams have brought them to the realisation that the market has changed. It’s no longer good business to hold onto their...
Read MoreFor many people approaching their retirement, the concept of equity release can be a welcome edition to boost the available funds in their pension. Equity release schemes have been specially designed for the over fifty fives’ age group and can present a viable option for most retired people. However, there are a number of terms and conditions including the possibility of early repayment charges which make some consider other alternatives, such as the Halifax retirement mortgage. What is the Halifax...
Read MoreThe equity release market has changed over the last ten years. While in the early days of equity release schemes direct sales were the norm, the realities of the market have now led to a swap in how customers can find the very best deals. Direct sales have been replaced by independents In the past direct equity release teams such Aviva Direct accounted for over 80% of all business. These were the people who worked for the lenders and so...
Read MoreMany people considering equity release look to the high street and are disappointed that they cannot obtain equity release advice from banks. Currently the only form of equity release available from high street banks is to apply for a standard re-mortgage. Of course, this option requires monthly repayments to be made on a capital and interest basis. Additionally, there are restrictions for lending on this type of product depending on your age, employment status and disposable income. Why Can’t I...
Read MoreFor many people considering equity release, the thought of a large lump sum can be a very large temptation. However, taking the maximum equity release may not be the most sensible financial decision. Although the lump sum is tax free, there are a number of financial implications to receiving a large sum of money which could create issues in your normal daily life. Equity Release Schemes in the Past Before the invention of drawdown mortgages, many older equity release schemes...
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