Equity Mortgage Release - Help at Hand

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Having a peaceful life is what everyone looks forward to after retirement. After years of tremendous hard work, everyone looks forward to retirement like rest after a long day's work. Almost everyone has some wishes and dreams that remained unfulfilled through the years when you are too busy taking care of responsibilities. And in the crowd of needs of your family and loved ones, your own desires are left behind.

The time after retirement is an ideal time to bring out those long locked yet cherished wishes out into the open at last. But who can predict the future? Suppose just when you are thinking of settling down with your wishes, a sudden and unforeseen situation crops up that requires a lot of money. Do you have enough savings to take care of such situations or do you think you will receive enough pensions to be able to get of such situations without hampering the lifestyles of your family members? If the answer is yes, you are very fortunate indeed. But is the answer is no, you should really start giving it a thought from now.

Let me help you a little on how to get of a situation like the one mentioned above. You can opt for equity mortgage release. If you have been sensible enough to have bought a property to your name when you could, you can easily apply for equity release loan anytime after your retirement, when you face a financial crunch. Do not get worried by the word mortgage of equity mortgage release, it is not really a mortgage loan but similar to it. The biggest difference between a general mortgage loan and equity release loan is that you will receive money as a lump sum amount or in installments every month based on the valuation of your property, like a general mortgage loan, but the difference is you can call your property your own and stay there till you die or till you repay the loan.

Think about it, you get to stay in your house, call it your home and receive money as well. Your house will not be confiscated till you are alive. After your death the property will belong to the company from whom you have taken the equity release loan. As the property will belong to the lending company after your death if you opt for equity mortgage release and do not repay the loan in your lifetime, your beneficiaries will be left with nothing. This is, probably the only disadvantage of equity mortgage release. Your beneficiaries could buy off your property from the company though, if they wish to. And if you die before receiving the entire amount of your property's valuation, your beneficiaries will receive that amount after your death.

Hence after your retirement, if you need money, you now know where to go. Equity release loan is close at your hand to help you through any financial crunch on the condition you own a property.

Dorthy is a content writer on equity mortgage release solutions. He has good knowledge on Equity release loan. For more information he recommends to visit http://www.therightequityrelease.co.uk/
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