It Is A Special Scheme For Special Needs

Category: Finance, Real Estate.

Equity release mortgage schemes are gaining popularity over the years.

Prices have as much as doubled over the years within a matter of a decade. The fact is that over the years, returns from investment in property have been much higher than the stock market investments. Equity release is an in- thing now, as more and more people are realising the profitability of this scheme and opting for it. There are many schemes in the market these days which work out fine. This scheme is particularly good for the retired people who can cash in on the rising value of their property. In fact, most of the equity release mortgage schemes are for the old retired folks who are above 55- 70 years of age. This may not be suitable for every one.

You need to consult financial experts before you avail to this scheme. It is a special scheme for special needs. You need to do a good amount of homework anyway before making any financial decision. For example, you need to look into inheritance issues as well, such as how much property would you like to leave to your family, rather than exhausting its equity. The equity release mortgage scheme is primarily a loan based on the value of your property but here you pay in the form of your property and you do not have to do so in your lifetime. This amount is recovered by the lender as per mutually agreed terms and conditions after the death of the owner of the house, or else when when the owner moves out of the house.

You receive the cash either on a monthly basis or as a lump sum. So as long as you are alive, you can stay in your house, without ever worrying about your monetary needs. This scheme will serve you without the headache of repayments in your lifetime.