So, what else do you need to know before planning the equity release mortgage? Don’t you know? It is a method for opening an extent of the esteem or value, you have in your home in return for a tax-exempt singular amount; without moving. This means that you can stay at your loving home even though you use it to borrow the amounts of money.
Aside from lifetime mortgage, there are other types of equity release. Are you familiar with home revision plan? This involves selling part of your property to a provider of home reversion. You get the deal continues as money, which can be paid as normal portions or as a solitary money single amount. Sadly say, you are going to reecieve less than a full market value of your property but why? It is because the buyer couldn’t sell your home until you permanently move or die.