These days, more and more homeowners are looking into equity release to help fund their retirement plans whether for home improvements, a new car or holidays.
Equity release might seem a good idea if you’ve got older kids too. They might be struggling to get a deposit together for their first home so they turn to the bank of Mum and Dad.
With Equity Release you get to stay in your home, and you don’t make repayments on the money you’ve released until you die, or go into care... but, the interest you’re charged on that released money keeps going up while you’ve got it and it soon adds up.
Say you release £100,000 of equity from your home, after 5 years, with an interest rate of 6.5%, you’ll owe over £137,000! After 20 years for that £100,000 you’ll owe over £350,000!!
That means you could be leaving next to nothing as an inheritance for the kids and grandkids.
This is where RoyaleLife's Home Part Exchange service can help.
We’ll give you 100% market value for your current property, less the price of your new luxury bungalow, leaving you the difference in cash. Plus, there are no estate agent fees, no solicitors to pay and no stamp duty either.
So you’re left with a brand new bungalow, 100% owned by you, cash in the bank and debt free.