Many people who released equity from their homes in 2019 with Giraffe Equity Release used the funds to pay for home improvements. These homeowners chose to release some of their property equity to access a lump sum of tax-free cash. But funding your home improvements through equity release isn’t right for everyone.
No monthly repayments
One of the main reasons that people choose equity release is that there is no requirement to make monthly repayments if you choose not to. The youngest homeowner must be at least 55 years of age and your home must be worth at least £70,000. With a lifetime mortgage, the most common type of equity release you could release from £10,000 up to 55% of your property value. Which could cover the cost of a new bathroom or some landscaping. You can spend the money you release as you wish, once you have paid off any existing standard mortgage that you may have.
Giraffe Equity Release will explore all options with you, and will tell you everything you need to know about equity release including the effect on the amount of inheritance you can leave and if your entitlement to means-tested benefits could be affected now or in the future.
At Giraffe Equity Release we provide a free equity release quotation outlining what equity release could mean for you. You’re under no obligation to proceed with anything that we recommended to you.
Important Information – Equity Release
Equity release may involve a home reversion plan or lifetime mortgage which is secured against your property. To understand the features and risks ask for a personalised illustration.
Giraffe Equity Release will let you know how much tax-free cash you could unlock, if its right for you and the different options available, the effect on the amount of inheritance you can leave and if your entitlement to means-tested benefits could be affected now or in the future.
We provide advice for free and without obligation. Only if you choose to proceed and your case completes would a fee be payable.