Wednesday, May 4, 2011

Equity Release – A Perfect Scheme to Please all Retirees

Throughout your life, you have taken big decisions at office as well as at your home. However, the decision that determines the security of your post retirement era is probably the most crucial one of your life. Therefore, you need to go for such retirement schemes that can ensure financial stability and provide you a mental solace till the day you breathe last. Well, if you carefully chalk out your daily expenses, you will find that pension is certainly a weaker option. Owing to its high interest rates, the majority of retirees are getting compelled to avoid such unproductive schemes. Instead a brilliant option that is making news among retirees is equity release.

Equity release is absolutely hassle-free. Here you simply need to release equity in the form of cash and in return you will keep receiving a regular monthly payment. These schemes can be set for lifetime, weekly, annually or monthly. If it’s completely new for you, you can always talk to an online equity agent. Equity release schemes might seem a bit complex for beginners. So, it’s wiser to seek advice from experts who will rather help you chose your appropriate scheme in terms of your requirements.

With this fascinating scheme, retirees can always expect some rocking post-retirement days. One of its biggest advantages is that the lump sum you are releasing will be absolutely free of tax. However, the amount you release will depend upon the value and conditions of your property. In fact, the money you release can help you to clear off debts, pay off mortgages, support family expenses, and most importantly lead a healthy lifestyle.

Equity release moreover does not compel you to go for monthly requirements. In case of a lifetime mortgage, the initial loan along with the outstanding interest will have to be repaid as soon as the homeowner dies.

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