09.07.2024

Pros and cons of equity release

Pros and cons of equity release

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  • Equity release can turn your home into a source of retirement income if you're aged 55 and over, but there are pros and cons of releasing equity. It's important to understand the positives and the downsides, so you can make an informed decision on whether to proceed.
Pros of equity release
  • You’ll have tax-free cash to spend
  • You’ll never owe more than the value of your home
  • You can stay in your home
  • You don’t have to make any monthly repayments
  • You still own your home
  • You can avoid paying inheritance tax
Cons of equity release
  • Your debt will increase due to interest
  • You might have to pay early exit fees
  • It can affect your benefits
  • You can’t take another loan against your house
  • There are fees to pay
  • lenders
  • Equity Release
  • Independant Financial Advice
  • Mortgages

I am an Independent Financial and Mortgage Adviser and have worked in Financial Services for over 12 years. During my career I gained experience in assisting both individual and corporate clients.…

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