Life does begin at 55 with equity release. Why wait until you retire to fulfil those ambitions and goals? Does your list could include foreign travel, an extension or improvements to your home? Or perhaps a luxury item such as a car, yacht or plane? Perhaps you want to buy a holiday home, help your children or grandchildren or reduce your inheritance tax? The only sticking point is that you don’t think you have the financial means to pursue your ambitions. However, stop, if you own your home and are 55 or over, an equity release mortgage could provide the additional source of funds that you are looking for. A lifetime mortgage could allow you to release money from your home to finance your ‘to do’ list.
What are you dreaming of?
- Worldwide travel
- Making home and garden improvements
- Purchasing a luxury item – car, yacht or a plane
- Buying a holiday home
- Helping your children
- Reducing your inheritance tax
The world is your oyster
You may well have a bucket list of places you want to visit. These might include the Inca settlement of Machu Picchu in Peru, the Taj Mahal in India, the tombs and temples of Petra in Jordan or the Kruger National Park in South Africa. Perhaps the places on your list are nearer to home and include travelling on the Orient Express, visiting the Amalfi Coast in Italy, Provence in France or Santorini in Greece. All you need is the money to pursue your travel dreams.
Home and garden improvements
These range from updating the kitchen and/or bathroom to building an extension. The latter might be for a bedroom downstairs so that you can be more comfortable as you get older. You may also find that you are spending more time in the garden and a makeover, garden chalet or even a pool would certainly make your time there more enjoyable.
Releasing the wealth from your home could enable you to make a cash purchase of a holiday home or help to fund a mortgage deposit. In order to comply with the terms and conditions of a lifetime mortgage, there will be certain stipulations. The property will need to be maintained, you will have to be a UK taxpayer and you will be required to reside in your UK home for at least 183 days of the year.
How can Paxton Equity Release help you achieve your dreams?
So what’s on your bucket list? Why not go for it? It’s true that you do only live once! An equity release mortgage could give you the financial freedom you are looking for to pursue those things you have always wanted to do. In order to be eligible for a lifetime mortgage, you must be aged 55 and over, be a UK resident and be a homeowner with a property worth at least £70,000. If you do think a lifetime mortgage would be right for you, please get in touch with Martin on 01892 617070 for a chat or email firstname.lastname@example.org.