With so many different tools on the horizon to help homeowners make the most of retirement, it’s safe to say that times are pretty good. While it’s true that some homeowners are struggling in the market right now, the truth is that there are still viable opportunities out there if you’re really serious about fixing your retirement and getting it steady and stable.
One such option is the equity release program, a program that can help you tap into the equity in your home. Now, if you never thought about turning to the equity that you’ve built up over the years, there’s no need to beat yourself up. You will just nee dot push and really make sure that you get things done in a big way now that you know what’s going on.
To explain further, let’s start with the benefits of equity release: tax-free income. You can either get a lump-sum to use however you see fit, or you can get steady income in the form of an annuity. Annuities from equity releases are index-linked, which means that they rise to meet inflation. You aren’t going to have to worry about your money not stretching and growing with you as time passes. Inflation is just part of life, and it’s important to make sure that it’s managed wisely.
There are financial advisors out there that can help you determine exactly what type of equity release scheme makes sense of your financial situation. Instead of jumping in headfirst by yourself, you might want to stop and get this valuable advice. Your home is one of the most important investments that you’ve made in your life. It’s important to protect it as much as possible.
There are quite a few different types out there. One type of arrangement that people really like is the lifetime mortgage. As the name implies, this is a type of program where you will be essentially carrying the mortgage for the rest of your natural life. In return you will be getting lifetime income, which can help you supplement the other sources of income in your life, such as a pension program. Again, if you’re going to take this path it’s critical that you shop around. Every lender that handles equity release is going to have different qualifications, conditions, and benefits. You will want to look carefully at their interest rates and fees in order to make the deal as profitable for you as possible.
However, now that you’ve heard the good word about equity release programs it’s definitely time to get started today — you won’t regret it!