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:
“[T]here is no Part of the World where Servants have those Privileges and Advantages as in England: They have no where else such plentiful Diet, large Wages, or indulgent Liberty: There is no place wherein they labour less, and yet where they are so little respectful, more wasteful, more negligent, or where they so frequently change their Masters.”
—Richard Steele (1672–1729)
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—Maria Stewart (1803–1879)
“A woman might claim to retain some of the child’s faculties, although very limited and defused, simply because she has not been encouraged to learn methods of thought and develop a disciplined mind. As long as education remains largely induction ignorance will retain these advantages over learning and it is time that women impudently put them to work.”
—Germaine Greer (b. 1939)