The equity release resource website EquityRelease.net is pleased to announce that they have added The Essential Equity Release Factsheet to the website to provide UK residents with a concise and easy-to-read introduction to equity release schemes in the UK. EquityRelease.net is an independent equity release information resource website that provides a detailed information resource of equity release as well as free equity release advice and quotes.
Many older UK residents look forward to retirement as a time when they can engage in hobbies and activities that were not possible when they worked. Unfortunately, there is growing concern over whether people’s pension and retirement savings are enough to maintain their standard of living and spend their time as they please. As many retiring homeowners look into equity release as a means to provide the income they desire in retirement, the information website EquityRelease.net hopes to answer their basic questions with the addition of “The Essential Equity Release Factsheet” to the website.
“Our goal as always is to help older UK residents understand how equity release in their homes actually works, and the new infographic reduces our voluminous information contained on the website to its most basic terms, primarily using graphics to explain how equity release works,” said an EquityRelease.net representative.
As an introduction to equity release, the fact sheet begins by explaining the basic nature of home equity release. The equity of a home is the current value on the open market minus the debts held against it. Equity release allows the homeowner to obtain cash for this value without having to move out of their home. Equity release is for individuals over the age 55 who own property valued at around £70,000 or more, and most schemes also stipulate a minimum and maximum amount that can be released.
A common question answered by the fact sheet is who can take advantage of equity release. The new infographic shows the general profile of people that routinely take advantage of equity release as well as the eligibility requirements that they must meet to qualify. Many people have a fear of losing their home with equity release schemes so the fact sheet explains the limited risk of losing a home and how it can be avoided.
When it comes to the basics of releasing equity, readers will learn about its two forms, which include lifetime mortgages and home reversion plans, which are both approved and regulated by the Financial Services Authority (FSA). While the Essential Fact Sheet infographic is meant to be an introduction to equity release, readers can find far more detailed information on the website about all aspects of equity release. Website visitors can also take advantage of free advice and a quote provided by one of their specialists. For more information, please visit http://www.equityrelease.net/