Social Lending


After considering the alternatives such as asking friends & family, another option could be to downsize to a smaller property & release capital that way. This may not be conducive in the present housing economy; however the reduction in valuation can have a knock on effect down the chain. Factors to also bear in mind would be the moving costs including stamp duty which can be a considerable burden unless purchasing below the nil rate band.

A common objection to downsizing would be the upheaval effect on the family & could also be dependent upon what stage of life you are at. Those in retirement may have lived at their current abode for many years having seen their children grow up in the property. If for sentimental reasons the decision is to remain in site then equity release schemes can be a sensible alternative to moving.

They will allow you to remain in the property for the rest of your life with your home remaining in your name. These lifetime mortgage schemes can then provide you with a lump sum or income to financially support you through retirement & enable you to enjoy those luxuries in life.