Long Term Finance Options
Looking for long term loan options for your home? Want to live an easy post retirement life? Equity release may be the option you are looking for. Equity release provides either lump sum money or monthly payout finance options to homeowners.
Equity release would be helpful for you if:
- You are looking to supplement your pension
- You want to get some money to meet some urgent expense
- You want to lead a great life after retirement
Now, once you know equity release can help you in getting what you are looking for, you will like to know what equity release actually is and how can you get it? Equity release is simple. Equity release makes you release the potential money from your home for your current expenses, while still living in your home. This is the best thing about equity release.
There are many ways to get an equity release on your home.
- In Lifetime Mortgage, you get lump sum money, just as you would in a home mortgage. The compound interest and the loan are paid for when you have moved out of the home, by selling the home.
- In ‘Interest only’ equity release, you get a mortgage similar to the lifetime mortgage, but only the principal is paid by selling the home, while you pay back the interest monthly while still living in the home.
- Home Reversion is another type of equity release plan. In this type of equity release, you will sell part of your home to a third party, while retaining ownership of the other part and the right to live in it till whenever you want. The third party dues are paid back by selling the property.
There is no need to worry about living in your home, because the Equity Release Council and Financial Conduct Authority are two watchdogs according to whose regulations, no finance company can force you out of your home, before you decide to do it yourself. Though, they are entitled to get their amount back by selling your home in case you die!
Iccile Financial Solutions and Your Needs!
We at Iccile Financial Solutions, provide financial solutions to people looking for long term loans. We also provide equity release options to people. Our staff is very cooperative and would listen to all your questions and would help you in any and every way possible. We also make sure that you get the best deal while getting your equity release and interest rate payments are as low as possible.
We have ample experience in the two forms of equity release most prevalent in UK, which are the lifetime mortgage and the home reversion. There is one great thing about equity release here in UK and that is the NNEG regulation of FCA and ERC. NNEG stands for No Negative Equity Guarantee, which ensures that your dependents and heirs would not have any debt once you die because of your equity release.
All these positives make equity release the best form of raising money, so what are you waiting for. Just contact us and get your equity release at the best rate possible!