equity release
This is the ‘catch all’ title for many types of product that can be used for;
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‘Cash Out’. Where you require capital released from your property
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Income generation using the capital in your property
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Inheritance Tax mitigation
There are basically 4 generic product types than achieve one or all of the above requirements, and these are summarised as;
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Mortgage. An ordinary, plain mortgage!
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‘Lifetime’ Mortgage. Interest is capitalised (rolled up and added to the initial mortgage) so there is no monthly payment to make.
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‘Reversion’. Where you ‘sell’ the house for a percentage of the value (age dependent) BUT retain a lifetime tenancy i.e. the right to stay in the property
- ‘Equity Release’. These are specific schemes geared for
- ‘cash out’,
- to eliminate mortgage payment obligations and
- to mitigate against IHT. These are a Mortgage/Investment combination.
If you would like to speak with a representative to discuss your requirements please call +(34) 677 874 948
NOTE. Where specific and regulated tax and financial advice is required, you will be referred to a specialist adviser for the designated country.
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