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When lifestyle matters
While many people consider the option of downsizing, they do so in many cases with great reluctance.
If you're over 55*, own your own property and need to release cash for whatever reason, an equity release mortgage is an option you might consider.
There are a number of factors to look at before going down this route. Your adviser should outline the features and risks, discuss how they could affect your tax position and explain your eligibility for means-tested benefits and ability to move or sell your property.
An equity release will reduce, possibly to nothing, the amount that you or your estate receive when your home is eventually sold - so it would also be prudent to discuss this with potential beneficiaries, especially your immediate family.
Once you've made your decision, with the benefit of impartial advice from a suitably qualified expert in the equity release field, it's just as important that the solicitor you choose has a proven track record in this highly specialised area. Equishield will ensure that your advisor has covered all of the key areas and that you fully understand the nature, effect and implications of your equity release mortgage.
*some products may be available to younger people.
