Equity release is a financial product that allows homeowners, often retirees or those approaching retirement, to tap into the value of their property without selling it. Over the years, as you make mortgage payments and property values appreciate, you build up equity in your home. Equity represents the portion of your property’s value that you truly own.
The main goal of equity release is to provide individuals with an additional source of funds during their later years when their income might be reduced, or they want to finance specific expenses like home improvements, medical bills, travel, or helping family members financially.
Our trusted partner, Every Step Financial Service’s would be more than happy to talk this through with you.