Retirement puts an end to the active phase of life. Crossing the age of retirement means approaching the decadent stage of life. With weary muscles and bones, it is not possible for them to do any outdoor job in order to bear their own burden. There is an opportunity for the old-aged home owners to rely upon their possession for a decent living even after retirement. The flow of money from the equity locked up in the homes is a means of financial independence for them. Equity release solutions are meant to help them extract money from the equity fund of their homes.

Among several equity release solutions, equity release loan and equity release remortgage are highly useful and largely opted for. A residential property owner can take loan on a part of the total equity value of his or her house. In some cases, it is not mandatory make monthly payments for the borrowed loan. On the contrary they retain absolute ownership of their homes. The rest of the equity fund stuck up in their homes is transferred to the following generation. In case, they borrow loan at the expense of total equity value, they can reside in their homes for the rest of their life-term but like tenants without paying any rent. These equity release solutions are suitable for those homeowners who need money to meet their needs for comfort in the retired life.

The old-aged homeowners find mortgage equity release or equity release mortgage the most suitable of equity release solutions. It sets the homeowners who are lame with debts free. With a remortgage loan on the equity value of their properties, they can pay off the outstanding loans. Having such solutions to financial problems in life after retirement, they can meet other needs of their lives.
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One Response to this post

  1. Equity release mortgage on May 30, 2010 at 4:16 AM

    The best option these days to unlock the value of your home involves taking out a lifetime mortgage plan, equity release schemes will let you borrow money against the value of your home with the debt being repaid from its sale only after your death, seem an attractive solution to many cash-poor, asset-rich retirees.