Releasing Locked In Funds From Your Home To Ease Financial Pressures

Are you feeling the pressure of a shortfall in income? If so, you may be asking whether an equity release mortgage could be used to supplement your income? This would enable you to raise much needed cash and give you the financial support you need. It’s a question that doesn’t have a straightforward answer. There are many factors governing whether releasing equity from your home during and after these unprecedented times is a good thing to do and the right thing for you. Equity release was certainly growing in popularity before the pandemic. This enabled many people to unlock the value in their homes and it could give you the opportunity of releasing locked in funds from your home. The FT Adviser predicts that equity release will continue to boom with the FCA seeing an increasing demand for later life lending.

You may find yourself thinking about an equity release mortgage for a number of reasons:

  • Dividend shares have been stopped/cancelled or are less than usual
  • Your investments and shares are worth less and it’s not a good time to sell
  • Family members need some financial help
  • You want peace of mind of being in charge of your finances
  • The crisis has made you evaluate your life and look at things differently

Are you worried that your income is being affected by COVID-19?

Are you worried that your income and your pension fund income have taken a pounding? You could look at equity release to help you out of your current situation. There are different types of equity release options. Some allow you to draw a monthly income and others where you draw an initial lump sum and perhaps an agreed sum later on.

Equity release can give you the financial flexibility you are looking for

It’s possible to release equity from your home if you meet eligibility criteria. However, it’s a decision that shouldn’t be taken quickly or lightly, although it can ultimately give you the financial flexibility that you are looking for. If you are a homeowner over the age of 55, this will allow you to release some of the wealth that has been built up in your property. The debt is then repaid when you die or move into long term care.

If you are thinking about equity release, make sure you:

  • Take your time to make your decision
  • Make sure you fully understand what equity release entails
  • Ensure you receive individually tailored advice
  • Consider it as a long term transaction
  • Are confident equity release is suitable for your circumstances
  • Discuss with your family and friends

How can Paxton Equity Release help you?

Martin from Paxton Equity Release will be delighted to go through your options to see whether equity release will meet your needs and circumstances and be the right choice for you and your family at this current time. If you would like to know more about releasing locked in funds from your home, please call Martin on 01892 617070 for a chat or email martin@paxtonuk.com

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