Equity release schemes are a great way to acquire cash from the value of one's property.
(prHWY.com) December 8, 2011 - New York City, NY -- Equity release schemes are a great way to acquire cash from the value of one's property. It can be used as employee benefits and most especially for older people who don't have any source of income to sustain their daily expenses. Workers would want a sense of security from their current jobs and these schemes will definitely give them that. The money can be given in lump sum or in the form of monthly payments.
Memphis, Tennessee, December 8, 2011 -
Equity Release Schemes are a great way to acquire cash from the value of one's property. It can be used as employee benefits and most especially for older people who don't have any source of income to sustain their daily expenses. Workers would want a sense of security from their current jobs and these schemes will definitely give them that. The money can be given in lump sum or in the form of monthly payments.
There are a lot of benefits one can get from an equity release mortgage. People who are no longer earning regular income can now be assured of monthly equity from any existing land or property. This gives that person a sense of security and certainty that his/her living expenses are covered.
Family members will also benefit from this as the costs of living of an elderly member of the family will no longer be a burden. Those with enough savings can still gain from these schemes. The money can be used to fund that long awaited vacation or other retirement perks that they cannot afford otherwise. The fruits of one's labor are more attainable when equity schemes are availed.
What are the types of
Equity Release Schemes? One is the home reversion scheme wherein a percentage of the value of one's home is bought. This is quite popular as it allows the person to live in his home until death. Another type is the equity release mortgage. In this case, the homeowner is given money while the property is mortgaged to the financial institution. The money can either be lump sum or in the form of monthly returns. When the owner dies, the family members should sell the property in order to pay back the bank. They benefit when the value of the property has increased over time.
The disadvantages of these schemes lie in the fact that there is interest expense involved. Getting substantial information about the plan will give the homeowner more insight and knowledge about what he/she is getting into. An equity release calculator allows people to see the financial outline and fine print of the plan. One should bear in mind that an equity mortgage always has costs and accrued interest expenses. A detailed plan will show if one is actually going to benefit from it. It is therefore important to make sure that one's needs are met before deciding on anything.
About
Equity release schemes are there to provide benefits to employees and older people who don't have regular income. Whether one chooses monthly returns or a lump sum amount, the payback can be used on a lot of things including daily costs of living as well as vacation plans. Consult a financial institution or use an equity release calculator to determine the value and returns of a property. It is just like getting a loan and mortgaging one's house.
Contact
Susan Boyle
15 Chestnut Drive
Memphis, Tennessee
Phone 1-865-789-4839
Email: susan_boyle@yahoo.com
Website: equityreleaseschemes.org
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