Equity Release

More and more people are achieving financial freedom in retirement by releasing equity from their home. In our experience there are three quite clear reasons why people consider releasing equity from their homes:

For those with a need, their income was not meeting their expenditure. Where the objective was to improve lifestyle the clients accepted life is not a rehearsal and if they didn’t fly first class their children would. Finally, as part of Inheritance Tax planning for those who were “asset rich, cash poor”, Equity Release provided the means to arrange their affairs in a more tax efficient manner.

If you are a homeowner and over 60 an Equity Release Scheme can help you achieve some lifetime ambitions by turning part of the value of your property into cash without any monthly repayments, or the need to move.

The combination of house price increases, low stock market returns, low interest rates and lower than expected pensions, together with changing family expectations, mean more and more people are discovering that Equity Release schemes can fund a more comfortable and happy retirement. In addition, by reducing the residual value of the home, many people are finding that Equity Release can also help reduce their estate to below the Inheritance Tax threshold, saving family members considerable tax, and allowing them to bring forward their inheritance.

Whilst in the past the only option may have been to move to a cheaper property, with all the hassle and expense involved and possibly requiring you to move away from friends and family, Equity Release can give you the option of remaining in your own home and at the same time enjoying a better quality of life.

Equity Release is a minefield, and there are a number of different approaches. At Innes Reid our role is to establish your requirements and identify the approach that suits your needs. We then research the market on your behalf to find the scheme which ideally fulfils your requirements.

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