The majority of people in their 50s and 60s reckon that older age will allow them to do things they`ve not been able to do earlier on in life and equity release may be one way help to fund those dreams.
As part of its Love Later Life campaign, Age UK has surveyed a range of people about their attitudes to getting older and 57 per cent of those aged 55 or older feel positive about that time in their life and fully plan on seizing the moment.
Of course, buying that dream sports car, landscaping your garden or taking that round-the world cruise will cost money, and if you have not got the funds to hand this is where equity release can come in, it can enable you to borrow against the value of your house and put it towards whatever it is you`ve always fantasised about doing.
You don`t have to spend the money on yourself though you could always use the money to bring happiness to your family by helping a relative pay for the mortgage on their first home or helping to cover university fees.
The Age UK figures show that nine-out-of-ten (91 per cent) respondents reckon that something needs to be done to help us all lead a better later life and equity release could be worth considering.
The money doesn`t have to be taken in a single chunk, it can be paid out in smaller instalments to help supplement your pension income, hopefully giving you a more relaxed retirement as and when you need it.
First Choice Finance will try to help you to get the most suitable equity release scheme from their panel of lifetime mortgage scheme providers.
Discover more about our services by visiting firstchoicefinance.co.uk or call us on 0333 003 1505 from a mobile or 0800 298 3000 on your landline.
Homeowner Secured Loans
Rates From 7.1% APRC
Representative Example £30,000 over 72 months @ £679.90 repayments. Total payable of £49,949. 20.1% APRC including £2,975 intermediary fee and a £995 lender fee. Loans secured on property.
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Mortgages & Remortgages
Borrow £80,000 over 25 years
At 4.6% Variable, £461.95 for
300 months. Total Payable
£138,585. Total Cost Of
Credit £58,585 (incl £1360 fee).
Unsecured Personal Loans REPRESENTATIVE 49.9% APR (VARIABLE)
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Security is required on
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