There are other advantages
with equity release too. Because there is a no negative equity
guarantee the borrower is protected against a downturn in the
market. And if interest rates should fall borrowers are perfectly
free to refinance their mortgage with another provider at a
Of course every action
has a reaction, and nobody lends you money that will not have
to be paid back, with interest, at some later stage.
So it is with equity
release, and the down side of making such a commitment is that
when you pass away you will have less to leave to your family,
especially so when the value of the property has increased at
a slower rate than the interest on your mortgage.
Equity release is,
by definition, considerably more expensive than it would have
been to sell the property to make the equity available. Thus
it is the better option only when the desire is to remain in
the property, and not as a consequence of any financial comparative.
releasing equity as a means of freeing up some extra cash it
is always helpful to contact an expert who has no selfish interest
in whatever decision you choose to take. It should be considered
alongside all the alternatives, and the pros and cons weighed
up, before any final commitment is made. To begin the process
of looking into equity release options, visit the above equity
release websites and comparison providers so you can speak with
a professional equity release advisor who may be able to assist
you further with your equity release plans.