Grabs Koop Business Can I Release Equity From My House Under 55?

Can I Release Equity From My House Under 55?

You can’t access traditional equity can i release equity from my house under 55 products unless you’re over 55. However, there are other ways to unlock the value of your home such as transferring equity into joint ownership with a younger partner or remortgaging.

It’s essential to speak to a financial advisor before taking out any type of equity release product. They can help you understand the benefits and drawbacks to ensure that it’s right for your needs. In addition, they can help you compare options and find the best deal for your circumstances.

The most popular form of equity release is a lifetime mortgage. This allows homeowners to claim tax-free cash from the value of their property – and it can be taken as a lump sum or in regular smaller payments. You’ll be able to protect an inheritance for your family from the equity you release too, which is great if you want to pass on your home to them in later life.

Exploring Equity Release Options for Those Under 55: What You Need to Know

There are several different types of lifetime mortgages available, so it’s important to find one that suits your requirements. You may be looking for an interest only option or a monthly payment lifetime mortgage with flexible drawdown. It could be that you want to use your equity to fund a renovation or buy an overseas property. With UK interest rates at an all-time low, now might be the time to get the funds you need for a project. Get a free quote from the Age Partnership for a comparison of rates for life time mortgages and other equity release products.

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