National Money Management When one becomes older, obviously they look for savings and investment needs after the retirement. There are various investment avenues such as insurance, old age retirement plans etc. However, recently UK has witnessed popularity among the people aged more than 65 years to register for attractive equity release schemes. Equity release products give the applicant to receive a lump sum amount that can be utilised for the life ahead. Here you will choose a financial company to mortgage or lease your home. The basic principle behind this product is that you will receive an amount after evaluating your property. The lender recoups the amount in the event of your death or if there are any nominee declared while enrolment, the benefit will be passed to them. If you are moving out to any care home, even this benefit can be availed. Equity release products give you a way to receive a lump sum loan, regular income, or both from your home. There are currently a range of different types of equity release products to choose from. In the main, equity release works on the basic principle that you receive a loan against the value of your home, which the lender will recoup with the proceeds from the sale of your property in the event of your death or when you move out of your home and into long term care. With joint equity release schemes the proceeds from the sale will go to your equity release scheme provider when the final person named your joint release scheme dies.
The major attraction of this scheme is you get absolute freedom in spending the money the way you want. It is a common practice that most of the people avail the equity release to live a better life after retirement, buying a second home or giving it to the dependent or beneficiary after they receive a deposit against their mortgaged home. When UK witnessed a property boom, this was considered as the best scheme for the retired people. They get their property valued at peak rate and it helped them in yielding a good return either totally or as monthly returns. This was profitable because of the valuation valued higher than the money they spend to buy it. This also means that the profits they could make were higher than any other savings and investment avenue. Equity Release Compared is one of the leading financial consultants in the UK that can help you to choose the best company in solving all your equity release investment concern.
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Published on Jul 1, 2013
www.equityreleasecompared.com - Equity release products give you a way to receive a lump sum loan, regular income, or both from your home.