Home owners using equity release to solve debts

In 2009 equity release became an increasingly popular way of homeowners meeting their debt requirements. Equity release topped the £1 billion mark in 2009 with 35% of those taking out an equity release plan doing so to fund non-mortgage debt. Demand has continued into the first quarter of 2009.

One of the key reasons that equity release schemes are being used to fund debt repayments is that there is no need to move home. The amounts released are tax free and as such can be used in full to meet debt repayments.

Louise Tilston of Ashall Glover Financial Services commented: “A qualified adviser will explain in exact detail the way in which the scheme that a client chooses works to ensure that they are fully confident that they can remain securely in your home as a result of equity release.”

Ashall Glover Financial Services advising on equity release schemes