What Are The Alternatives To Equity Release There are a variety of alternatives, such as downsizing to a smaller property or moving to a less expensive area, using economies, borrowing in the form of a loan or by asking a friend or family member.
These Are A Number Of The Alternatives To Equity Release:  Savings, investments or other assets which might be drawn on
Downsizing your property or moving to a Less Expensive area to get some equity from your home’s value (even though the cost of moving and agency/legal charges should be thought about) Continuing in, or returning to, compensated work to top up your income Letting out a space within your house to a tenant Accepting financial assistance from a comparative or a buddy may be an option, although it's understandable that some would prefer not to have to ask to borrow money from family members. Organizing a traditional mortgage Looking in to Local Authority home improvement grants Ensuring All your entitlements to mean-tested benefits are being claimed (your Bower expert will assess this for you as part of our specialist equity release service)
While there are various kinds of equity release plan to match different needs, it’s not always the right option for everybody. Prior to taking out an equity release plan our advisers will undergo all the benefits and disadvantages, as well as the choices which could let you increase the money in another manner. Get in touch and we'll happily discuss all your options and could make a recommendation as to which one could be best for you. That's a life time mortgage or home reversion plan. To comprehend the characteristics and risks, please ask for a personalized illustration. Bower is here to supply you with independent, impartial financial advice and client service. Our charges are tailored to your individual requirements and are based on the products you require. You'll only be billed once your plan finishes and the exact amount depends on your personal circumstances but our typical fee is £295 for advice, and our typical arrangement fee is £1,495 that is only payable when your plan finishes. To comprehend the full characteristics and risks ask us for a personalized illustration.
To find out more about some one of the Bower services and goods mentioned below, please call us on free phone 01424 712333, ask for a call back, email us, or link in our live chats you’ll discover on our website. If you're considering equity release we strongly advise that you read our ‘Benefits and drawbacks of Equity Release’ page carefully. Read More: - Best Equity Release Advice