Equity Release – The Confusing Financial Mess

Written by Anurag Bhateja on July 10, 2009 – 9:30 pm -

In the UK, there is a new financial product which is a right mess. It is called equity release and you borrow money against your home and the repayment to the income provider can be done through two means. In case if a person dies, the provider is paid his due through selling the house. If the house is sold before his death, he will have to pay the lender his due amount along with the applicable interest. One of the plans is called a lifetime mortgage and the other one is called a home reversion. This way the older citizens who do not wish to leave a huge amount for their heirs can easily get a regular income throughout their life. Be sure you qualify by using an equity release calculator.

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5 Responses to “Equity Release – The Confusing Financial Mess”

  1. By Jenn on Oct 13, 2009 | Reply

    thanks for the information anurag

  2. By Dum on Oct 16, 2009 | Reply

    that’s cool for finance worker…. :)

  3. By geneve on Oct 16, 2009 | Reply

    its kinda not clear for me.But thanks for the info!And it seems to be not so nice to leave your family without giving something.

  4. By akira07 on Oct 17, 2009 | Reply

    As a business-college student, this article is so informative. Thank…!!!
    I just know there is a program like that.

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