Showing posts with label Equity release. Show all posts
Showing posts with label Equity release. Show all posts

Saturday, February 15, 2014

Use Your Property To Fund Your Old Age


photo: cbc.ca

This is a guest post written by Sarah Stark an authority in the home sector.

Old age brings with it a whole bundle of worries, some inevitable but some alleviative. Health conditions, for example, may deteriorate in many a case which, again in many a case, can be treated to an acceptable level. Not so is the most dreaded of it all: Paucity of money and the adverse consequence of the wretched condition on one’s well-being and on high-spirits. Unless you had planned and saved your retirement funds, the only way out you can hope is to get your hands on your property.

The scheme as outlined in the following few paragraphs can help you get sustenance and also leave enough money for unexpected expenditures. Central to the idea is the property you may own. You can get cash in hand, an amount equal to the value of your property. The condition that you should agree to involves a payment of the money equivalent to your property after your death.

Your property can be called frozen money that you can thaw at any time you chose. The fluid cash thus got can be utilized to meet your day-to-day expenditure as well as purchases of essential materials or services. All this without your having to worry about repayment when you are still alive. That, anyone will agree, is the best part of the whole scheme. Equity release, as the plan is called, spares you the hassles you might otherwise face. You can leave shortage of funds far behind to enjoy your life peacefully in your old age. The custom-designed equity release is the way to go forward.

There are various plans within the concept the best of which can be chosen by you. 

Home Reversion


Firstly, this is not a loan. You can sell a part of your house for a lump sum amount. Upon your death or if you take residence in a home, you or your estate will be paid a share of the sales proceeds after the sum for fees for services like a solicitor’s charges are deducted. For instance, if you had sold 50% of your property, 50% of the sale amount plus the growth value will go to the reversion company. 

Home Income Plan


A percentage of your property value is converted into cash and awarded to you. You can use this money to buy an Annuity from which you can get a monthly sum. The interest can be paid from part of this money. The rest of the sum will constitute your monthly income. As and when the property is sold (usually on your death) or when you move into a home, the original loan will be paid back in full

Lifetime Mortgage


This plan envisages a loan paid to someone with a property. The loan does not have to be repaid by the borrower at any time during his existence. It will be repaid only after his death or after he has entered into long time care. The advantage is he does not have to move from his house at all on getting the loan

Written By:
Sarah Stark is an authority in the home affiliate sector which can yield a high cash offer for your property. Her forte is writing but she can also design info-graphics. She also has a fair amount of knowledge on media buying for campaigns.



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