Why Use London Equity Release?
Thousands of people who own a home in and around London face a financial conundrum. Their net worth may be substantial on paper, but in reality it seems inaccessible, as any wealth is tied up in property they need and want to live in. The good news is that a solution for this issue does exist.
If you would like to explore the idea of releasing capital in your home without having to give it up why not consider releasing some equity? Basically this means you can continue to live in your family home, with all the benefits that offers, but at the same time have access to cash in either a lump sum or on an as-and-when basis.
What Could You Do With That Cash?
Travel – near or far
This could be the perfect opportunity to take that much talked about break to a distant land, spend time exploring another continent, or see more of the UK on a domestic tour. There are no right or wrong things to do, and definitely no rules. If the chance to travel extensively or take a short break is appealing then the sky’s the limit.
Buy new wheels
Two, four or more – if you are in the market for a new car, motorbike, caravan or even a motor home there will never be a better time to buy. Say goodbye to the expensive repair bills older vehicles generate, and start negotiating a discount on your potential cash buy!
Pay off debts
It’s difficult to truly enjoy retirement when you still have outstanding debts from loans and the like to think about every month. London Equity Release can advise you on how best to free up cash in your home, part of which you may decide to use to pay everything down completely.
Improve your home
Fixing up, modernizing or re-designing their home is consistently the most popular reason people in London choose to release equity in their property. From extensions and new kitchens to rewiring, new décor or landscaped gardens – why not invest in making your home a comfortable place to live for the rest of your life?
Move somewhere smaller
If you are hanging on in a home that is way too big for your needs now the kids have grown and gone it could be the right time to think about downsizing. Depending on the value of your current London residential property it may well be possible to release enough cash to buy a more suitable place outright elsewhere, and enjoy both lower running costs and whatever cash is left over from the purchase.
Bequests which help lower tax charges
Some people wish to help their children and grandchildren by either gifting them cash now – making the most of the tax limits each year, or by planning how to keep inheritance tax to a minimum. If you are interested in learning more about how to maximize gifts of money to your family, or want to know more about reducing possible inheritance tax bills London Equity Release advisors will be happy to explain these options in straightforward language.
Providing for future care
Everyone hopes they can live a long, fit and active and independent life, but the truth is many people will need help with something as they age. This may mean needing a little help to go shopping or get around outside, right through to requiring full time home or residential care – but either way, having the cash to finance support leads to a lot more choice and freedom than would otherwise be the case.
Extending your lease
If you are living in a leasehold property the cost of renewing can be prohibitive, which makes releasing enough equity to cover the cost, rather than having to pack and move to a new place, a sensible choice for some people.
As you can see there are many benefits and opportunities available to anyone choosing to free up cash in their home. If you would like to know more about what the process involves London Equity Release staff are always happy to provide further details and information in a no-obligation chat.