Equity releaseEquity Release Schemes
There are many different options available to help you get the most out of your retirement. Equity Release Schemes (ERS) are currently a popular option. Due to the state pension not being sufficient ERS’s have been seen as an alternative to relying purely on the state pension.
There are several options open under ESR's – this information is purely for an informative purpose. We do not give financial advise and therefore recommend that if you are considering any of these options that you consult a financial advisor.
Home Reversion Plans – Generally, if you are aged 63 or over, a home reversion plan is one of your options. People wanting to free up some capital generally use them. The plan enables you to sell your property, for a tax-free cash lump sum, or a monthly income, or a combination of both.
With most reversion plans, you receive a legal agreement, which allows you to continue to live in your home, rent-free, for as long as you wish. This could be until you die, or until you decide to leave the property.
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