A merciful (equity) release

Equity release is a way for homeowners aged 55 or over to release cash from their property, while re...

Equity release is a way for homeowners aged 55 or over to release cash from their property, while retaining the right to stay in their home. The cash released can be used at the discretion of the homeowner for a wide range of uses. The principal type of equity release plans available today is a lifetime mortgage. These enable the homeowner to take cash from their property while retaining ownership and the right to stay in their home until they either die or move into long-term care. No repayments are required until the homeowner dies or moves into long-term care. Interest on the money rel...