Archive for July, 2009

Equity release – is it the best option available?

July 27th, 2009

What millions of cash-strapped pensioners could probably do in these economic crises is expect a godmother to swing her magic wand and banish away all your financial crises. But the fact remains that this is no fairly tale so, we always need a real life solution that can work better for us. By this time your investment portfolio might have just collapsed and inflation might be running at 9% as you are over 60’s. You are also running out of extra layers to prevent from freezing, so you may try out new ways to serve cheap meat. Just when you felt that things could never get more worse, you have to renovate your home. So the most obvious thought would be to make use of equity release as it would only add more cash to your daily expenses.

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Equity release for parents.

July 27th, 2009

Home owners can sell their home equity in exchange for some cash that may hold value up to 30% of the value of your home as lump sum or monthly payment, more can be found out with an equity release calculator. The scheme is quiet attractive for a number of home owners and senior citizens who may need life time income. One of the main drawbacks with this scheme is that they may not leave mush as heirs, but that makes no difference if they don’t have one. These schemes are very much popular amongst most of the older home owners especially if they have no income or savings. The home owner may live in the house for as long as he wishes and shall be receiving payment through out his life. There are a few people who may even choose to take away some portion of money for retaining stake in their home.