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What can Equity Release be used for?

Equity release can be used for many reasons, and at Optimus Mortgages, we understand that all our clients have different circumstances and needs.

 

One of the most common reasons for using equity release is to repay an existing mortgage or debt. You may want to do some home improvements or create a more comfortable living environment for your retirement.

Travel Diary

Having the holiday of a lifetime is a dream many people have, and equity release can help them realise that dream. Holidays in the UK are becoming increasingly popular and using equity release to buy a new motorhome is giving many people the freedom to explore the many beautiful parts of the country the UK has to offer. Wherever your travel desires take you, there are financial options available for you to help make those dreams a reality.

 

Another common reason for taking equity release is to support families, usually to help children or grandchildren get on the housing ladder by providing them with the deposit to help them buy their home.

An equity release plan is not the only option if you wish to free up some cash in retirement. Downsizing the property or borrowing money from a close friend or family member, could be a preferable alternative to releasing equity from the home.

Equity Release may not be suitable for everyone.

Releasing capital from your property, will reduce the amount of inheritance that can be left and may impact the receipt of any means-tested benefits.

Family Meal

Discover why millions of home owners aged 55+ are releasing equity for their retirement

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