QUALIFYING FOR EQUITY RELEASE
Will I Qualify for Equity Release?
- To consider a Lifetime Mortgage option, you must be at least 55 years of age and own your home outright (or have a very small mortgage)
- For Revision schemes, you must be 60 years or above
Seeking personalised financial advice is the best way to assess your standing for a home equity release. For immediate insight on what an equity release scheme could do for you, try our equity release calculator below.
Can I Change My Equity Release Plan?
If you find a more competitive plan, you may be eligible to change your equity release scheme. You may also release more equity if your home increases in value, or pay the plan off early.
Remember that you will be paying more than you received in the initial loan however and some plans do carry an early repayment fee. All of these factors should be taken into account before proceeding and it is always best to discuss your personal situation with a financial advisor.
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Can I Release Equity on a Buy to Let Property?
Homeowners and landlords now have the option to borrow the equity in their vacation or rental homes through home equity release schemes available on buy to let properties. The tax savings for landlords can be significant as interest payments provide tax relief against rental income. The funds released through these options can help with the acquisition of new properties, generating added rental income for landlords.
For further information on releasing equity from Buy to Let properties, please leave you details below.
Equity Release Links
- What is Equity Release?
- What are the Benefits of Equity Release?
- Are there any Drawbacks to Equity Release?
- Are there Different Types of Equity Release Schemes?
- Will I Qualify for Equity Release?
- Can I Change My Equity Release Plan?
- Can I Release Equity on a Buy to Let Property?
- How Does Equity Release Work? A Step by Step Guide.