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Downfalls of an Equity Release

An equity release may seem like a good idea if you are a retiree looking for additional income. Whether you want to vacation or you just need help making ends meet, an equity release can seem like an easy way out when no other options are available. However, there are some major downfalls to these schemes that you should consider, as well as alternatives that may be better for your situation. The biggest downfall of an equity release is that you are taking away from your estate, and the...

Don’t Rely on Equity Release for Retirement

You will often hear people say that you can rely on an equity release for your living expenses during retirement. “I would never sell my detached house fast,” they will say. “Get an equity scheme instead, and stay in your house!” This is really not a very good idea for several reasons. First and foremost, getting a quick property sale does not necessarily mean that you cannot stay in your house. And secondly, you may not be able to get as much from an equity scheme as you may be led to...

Alternatives to Equity Release for Retirement

We all understand that retirement will not be enjoyable if we do not have the means to make ends meet, or the necessary funds to relax on the beach as we have always dreamed. With fewer and fewer companies offering or sticking by their pension plans, there are more and more retirees looking for ways to fund their retirement. Whether it be for an attempt to avoid repossession, day to day living expenses, or that long awaited vacation, you may feel that the money you need is only available...