Equity Release

Equity release is one way of funding a more comfortable lifestyle in retirement or fulfilling their aspirations, whether you want to: –

  • Supplement your retirement income.
  • Raise a capital lump sum.
  • Enjoy retirement more.

It is not uncommon for people to feel uncomfortable about discussing major financial decisions with their children, or indeed other family members or lifetime friends.

It is also not uncommon for people exclude family from their financial affairs for one reason or another, but, one of the main complaints made by families of those who have released equity from their homes – usually by taking out a lifetime mortgage against the value of the property – is that they were unaware of their parents’ decision… a decision that deprives future generations of some of their inheritance.

Therefore, it is important for them to do so, if only to get a second opinion. Older homeowners should look to those they trust to guide them when making decisions that could not only improve their lifestyle in retirement, but could also reduce what is left to future generations.

Failure to discuss finances can have other implications. Those hoping to leave an inheritance to future generations can see a large chunk of their life savings built up over decades of hard work swallowed up in care home fees or worse, left to the state in inheritance tax.

At the other end of the scale there are the so-called SKIers, as in ‘Spending the Kids’ Inheritance’, who are enjoying their retirement to the full. It may only be when they have passed away that their children and grandchildren discover, sometimes with some resentment, that the inheritance they hoped to receive has significantly diminished or done completely.

If you would like to discuss equity release in more detail and to understand if it is the right choice for you. Call now and book an appointment 01489 580020 or via our Contact Us page.

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