Equity release level raised

A leading supplier of home reversion plans has recently raised the maximum value obtainable through equity release to £250,000. The previous maximum value available to home owners was £100,000. Recent, steady climbs in house prices have given providers the option to make higher amounts available to those wishing to benefit from equity release products.

Equity release products convert equity to cash as a lump sum or ongoing income in return for a stake in your home, along with an amount of the proceeds when it is eventually sold. The type of plan that you select will have its own financial arrangements. As these plans are complex it is advisable to speak with an independent financial adviser to help you decide the level of equity that it is secure to release.

Louise Tilston of Ashall Glover Financial Services commented: “The higher value available provides homeowners with a greater range of options in relation to equity release. As with all products it advisable to seek professional advice to ensure that the benefits of the products are fully understood.”

Ashall Glover Financial Services are equity release specialists