| If you're considering an Equity Release Mortgage you | | | | income. |
| will no doubt have plenty of questions you need | | | | Things to be aware of: |
| answering before deciding whether it's for you. | | | | There will be less and in some cases no inheritance to |
| Whilst there is no substitution for talking to an | | | | leave to your family; |
| experienced whole of market advisor about your | | | | As accrued interest is continually added to the |
| circumstances and any concerns you have to decide | | | | outstanding loan balance, the longer your agreement is |
| whether equity release is for you, we have drafted | | | | running, the more equity is used up. Ultimately this will |
| out a few points to get you started. | | | | leave a reduced surplus when you or your estate sells |
| The Positives: | | | | the property; |
| You could release a substantial amount of capital from | | | | Subject to age amongst other factors it may only be |
| your property without having to move; | | | | possible to release around 20% of the property value |
| With some agreements you can choose to release | | | | which may not be enough to satisfy your |
| some funds now and some in the future; | | | | requirements; |
| You can spend the capital raised however you wish; | | | | Agreements can be inflexible and should only be |
| You can continue to live in the property for as long as | | | | considered as a long term option; |
| you wish; | | | | Equity Release schemes can be expensive although |
| With many schemes you will benefit from any future | | | | interest rates charged are now closer to those seen |
| rises in property value; | | | | on conventional home loans; |
| With some agreements rather than taking a lump sum | | | | Releasing equity may affect your entitlement to State |
| from the property value, you can opt for a monthly | | | | benefits. |