Popular uses

With an equity release plan, clients can spend their money however they choose (after any outstanding mortgage is cleared at the outset, if applicable).

The following list is not exhaustive by any means; however, the most common uses for equity release are:

• Debt consolidation by repaying either secured or unsecured debt such as mortgages, credit cards and loans
• Supplementing retirement income by using draw down facilities
• To provide emergency funds
• Buying a second property or a holiday home
• Replacing an interest only mortgage which has reached the end of its term
• Providing financial support to children and grandchildren for such matters as clearing debt and paying school/university fees
• Helping children and grandchildren to buy their own home by providing a deposit
• Funding for care in their own home or hiring domestic assistance such as a cleaner or gardener
• Paying for essential home improvements to the property
• Purchasing a new car or booking a dream holiday
• Inheritance tax planning
• Maintaining or improving a good standard of living in retirement, therefore providing sound peace of mind

mily and loved ones with financial support

• A one-off purchase such as buying a new car
• Enjoying a dream, once-in-a-lifetime holiday and other retirement lifestyle wishes