The main advantage of equity release is simple – it gives you extra money.
For many people, taking out a loan against their property can mean that the value of their estate is reduced and that there is consequently less inheritance tax to be paid on death. As we’ve said many times, inheritance tax is an area which requires specialist advice, but equity release can be a useful tool in making sure that the tax on your estate is kept to a minimum.
A financial decision for the rest of your life
Remember, taking out an equity release scheme is not simply raising some cash now, but making a financial decision that will affect you for the rest of your life, which could mean many decades ahead. Make sure you know exactly what you’re getting into – take as much advice as you need, and don’t be rushed into making a decision.
Read our factsheet to find out more about Equity Release