Equity release advice 'vital'

Homeowners who are considering the benefits of mortgage release schemes have been told to obtain specialist equity release advice before making a final decision.

Specialist equity release advice is beneficial because there is such a variety of options and organisations offering mortgage release schemes, stated Liz Tran, writing for Mindful Money Matters.

Explaining the attractions of equity release, the author commented: "Level payments are received by the homeowner for a designated time … An equity release thus allows for a retiree to continue having a home while also receiving cash for expenses as long as that person is living."

She added that individuals should consider all options, especially if they are hoping to pass on their property to their heirs in the event of their death.

Meanwhile, it may be the case that equity release loans will be especially popular among women in the coming years.

New research by the National Association of Pension Funds has found that fewer women than men are confident their pension will give them financial security.

Ashall Glover Financial Services providing equity release advice