Make A Secured Retired Life By Releasing Equity On Property

By Author: jimwright
Total Articles: 100
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Is retirement knocking on your doorsteps? Do you have no clue as what to do post retirement for your living? Do not worry. One of the easiest ways of securing your retirement life is by releasing equity from your property. There are many senior citizens who have adopted the scheme to release equity on house to make a comfortable living post retirement. Most of the people do not plan their retirement in advance and when the time finally arrives, they are at their wit’s end as how to arrange for some living. People with a good foresight will start planning for their retirement from the time when they receive their first salary. However, with various schemes of releasing equity, it has been possible to make a decent living post retirement.


Post retirement woes are common in all parts of the world, but they are more common in UK. There people receive a meagre pension after retirement. With the prices of things shooting up and with the changing lifestyles, it is very difficult to sustain in that little income. Senior citizens with no other income sources are finding it difficult to meet both the ends comfortably. ...
... The easiest solution to this problem is to release equity on house and arrange for some income. However, for releasing equity, one needs to have a house of one’s own. There are both advantages and disadvantages of releasing equity from the property. But when no options are left, old people find this way to secure their retired life.


There are some terms and conditions that have to be fulfilled in order to release equity on house. Age plays a major factor in this case. People who are 55 years or more can release equity on house. More the age of the person, more returns are expected on releasing equity. Secondly, the person adopting the scheme should have a property to his/her name. One cannot release equity from the property, which is not under his/her ownership. Thirdly, the property should be in good condition and should be well maintained. It should also follow all the rules and regulations of standard construction in UK. Most importantly, before releasing equity from the property, one must be sure that there are no outstanding debts on the property or the house is not mortgaged to some other company. When all these conditions are satisfied, only then a senior citizen in UK can release equity on house.


There are many advantages of releasing equity from a property in UK. First and foremost, the senior citizen does not need to evacuate the house after release equity on house. This saves the pain of leaving the house and also finding a new home at this age. He can stay in the property as long as he is alive. Secondly, the person who will release equity on house will get two options regarding the way he wants the payments. He can either take the entire money one time as lump sum or might take it in the form of monthly installments. Releasing equity thus solves many problems of retirement at one time.