Equity Release Schemes
Equity can be defined as the difference between the value of a property and the balance of the mortgage that is secured on it.
Equity release is a simple process of freeing up excess funds which would have remained part of the dormant value of your property. In simple words, equity release is a scheme whereby you can release the equity tied up in your property. One common reason to initiate equity release is to allow retirees to enjoy their retirement more happily. Like HBFS many lenders over the globe provide money against the value of your house, either in regular monthly income or as a lump sum. These 'home equity release' schemes are regularly marketed by their providers as an economic lifeline in old age. Most equity based schemes are aimed at people between the ages of 55 and 70 years old, who have no mortgage outstanding on their property.
Contents at a Glance
HBFS Equity Release Schemes
These Equity release schemes enable people to unlock money from their homes to fund their future lifestyles and allow the home owner to release tax-free cash from their home in order to boost their funds in retirement. However HBFS consider that these schemes are restrictive and the amount of money you can get are small. However Equity release plans have very strict criteria and many people they either do not qualify or find that other alternatives are much better.
These Equity Release specially beneficial for the old homeowners who have retired and are living on pension but are unable to make ends meet or in any case, find themselves short on cash to cover their daily expenses.
However home Buyer Financial solutions (HBFS) offer other plans for above like sell and rent back scheme which allow more people to release equity. With sell and rent back scheme you can release equity but never have to spend any of it on future maintenance of the property. We will maintain your property with our expense as long as you want to live there.
There are many different schemes in the market these days which will not work out fine like HBFS where this scheme is particularly good for the retired people who can cash in on the rising value of their property.
If you are among those who own a home in the UK, but are facing a shortage of cash in your old age, you can avail to this Equity release scheme from home buyer's financial solutions. This scheme provides for unlocking the equity in your house. So you convert fixed resources into flowing cash which can be used for fulfilling your daily needs.
We will look at every case no matter what type of property, what age you are, or how much your mortgage is. Contact us here to discuss.
