Advantages
- It can provide a lump-sum of tax-free cash or a steady income (annuity), which can be index-linked, for the rest of your life.
- It can reduce the amount of inheritance tax paid by your estate.
- The no negative equity guarantee (NNEG) protects the borrower in the event of a downturn in the housing market.
- If interest rates fall, borrowers are free to refinance their mortgages at a lower cost with other providers.
Read more about this topic: Equity Release
Famous quotes containing the word advantages:
“There are great advantages to seeing yourself as an accident created by amateur parents as they practiced. You then have been left in an imperfect state and the rest is up to you. Only the most pitifully inept child requires perfection from parents.”
—Frank Pittman (20th century)
“To say that a man is your Friend, means commonly no more than this, that he is not your enemy. Most contemplate only what would be the accidental and trifling advantages of Friendship, as that the Friend can assist in time of need by his substance, or his influence, or his counsel.... Even the utmost goodwill and harmony and practical kindness are not sufficient for Friendship, for Friends do not live in harmony merely, as some say, but in melody.”
—Henry David Thoreau (1817–1862)
“To become aware in time when young of the advantages of age; to maintain the advantages of youth in old age: both are pure fortune.”
—Johann Wolfgang Von Goethe (1749–1832)