Equity release is exactly what it sounds like i.e.a means of releasing the value held within an asset. In most cases the asset the you will be wanting to release equity from is a house. In the UK, many retirees use this as a way of generating income for themselves in their old age.
Equity release is something that should not be taken lightly. It is a big step and if you choose the wrong scheme you can end up with very little income and no assets to leave your loved ones when you die.
Is Equity Release Right For Everyone?
The right kind of equity release is right for anyone. However, if you already have sufficient income from other sources is something you really should not bother with. As well as considering equity release you should consider other alternatives as well. As with all financial decisions you need to consider all of your options and compare them to find the right solution for you.
Finding the Best Equity Release
The only way to find the right equity release solution for you is to do some research. Take the time to gather information from as wide a variety of sources as possible. If you have friends and family who are already using equity release speak to them about their experiences and who they use. In addition, Read reviews in newspapers, magazines and online.
Speak to financial advisers as well. Once you have sufficient understanding of what equity release is you are in a position to shop around to find the best deal for you. At this stage the internet is very much your friend. You can visit the websites of equity release providers and read about what their individual scheme has to offer you.
When you are actually ready to buy visit some of the comparison websites and use their online calculators. The best sites bring back quotes from a wide array of equity release providers. You can then compare quotes and get more details about the ones you are interested in before signing up with a provider.
Age Partnership are retirement specialists that give you the tools you need to compare the best equity release schemes, so that you can find the best deals possible.