Overview

Equity Release, sometimes known as Lifetime Mortgages have been a growth industry for many years allowing retired individuals and couples to raise money on their homes and property to help supplement retirement income and cash needs. This book provides an unbiased summary of the Equity Release market, so that anyone considering this area is well informed prior to making a decision. In this book we discuss the key terms & considerations of taking this course of action, as well as the advantages & disadvantages of raising capital on your property in later life.This book will be suitable for anyone of retirement age considering using the equity in their homes to raise cash and/ or help supplement pension and other investment income. It will also be suitable for families with elderly parents or grandparents who want to understand the subject of Equity Release.Uses of Equity Release include: Helping children and grandchildren raise deposits to buy homes, Raising deposits for rental 'Buy to Let' properties and towards buying holiday homes, both in the UK and abroad. Buying property abroad has become a huge market in the UK.Helping children and grandchildren with further education & university costs, Raising capital for home improvements, extensions and other DIY projects, Providing money for holidays, cruises and generally improved standard of living, Paying off outstanding 'Interest Only' mortgages and other debts, Providing cash for large ticket items such as new cars, boats, caravans, recreational vehicles, Helping family members with the cost of weddings, Helping with medical costs and the cost of private operations, Helping with Long Term Care Costs including residential and nursing home funding, Providing money to help with the challenges of ill health and disability - stairlifts, downstairs bathrooms or mobility scootersInheritance Tax PlanningRaising capital to establish Family Trusts.Providing gifts of money to family

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9781979179317

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