Equity Release - Disadvantages

Disadvantages

• It may decrease the amount of money your family will inherit upon your death - assuming the value of the property grows at a slower pace than the interest rate on the mortgage.
• It may reduce the amount that you can bequeath to charity.
• In the UK, it may impact any means tested benefits that the borrower may be entitled to.
• It's far more expensive than selling the property to release equity