Group SIPP - Investing in Commercial Property
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Equity Release
There are many equity release schemes on the market in the UK and it is important that before you go ahead with one that you understand the alternatives and the advantages and disadvantages of each of the different equity release schemes.
There are two main equity release schemes available on the market, the first and most popular is the lifetime mortgage, this is where you borrow a sum of money and it is secured against your home. With this equity release scheme you do not make any monthly interest payments on the loan, instead the interest is rolled up and added to the loan and is repaid upon the death or abandonment of the home to go into residential care.
The second equity release scheme is the home reversion plan, with this plan you sell all or part of your property to a home reversion provider and they give you a discounted lump sum for your share of the home. The reason the home reversion provider discounts the lump sum is because you will have the right to live in the property for the rest of your life and you will not be charged any interest on the loan.
Visit our website where you can get a free guide to equity release
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