Equity Release for that fairy tale ending?
With anxieties about State Pensions, rising living costs and inflation battering savings, it’s understandable why equity release is a regular topic of late.
Having worked for the large majority of their lives, people have had plenty of time to envisage life after work; fabulous holidays, new car, or redecorating the house, we all have our own retirement dreams. But as many feel retirement dreams slipping away, forced to spend their rainy day money on simply getting by, releasing equity from property is becoming a more and more alluring prospect.
Yet it is important to remember that anyone considering equity release should consult not only a financial advisor but a legal specialist too to ensure all implications of such a policy are fully explained.
Richard Espley, Head of Equity Release at Goldsmith Williams, said:
“With the current financial climate looking bleak, it is understandable why equity release appears an attractive option to homeowners.
“Equity release should never be a knee-jerk reaction, however, and using property as a source of income is an important decision. Anyone taking out an equity release plans should consult specialist advice, from both financial and legal advisers.”
The GWLifetime team are equity release legal professionals and can help make sure an equity release plan is right for each individual.
Content correct at time of publication