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)
“But there are advantages to being elected President. The day after I was elected, I had my high school grades classified Top Secret.”
—Ronald Reagan (b. 1911)
“Men hear gladly of the power of blood or race. Every body likes to know that his advantages cannot be attributed to air, soil, sea, or to local wealth, as mines and quarries, nor to laws and traditions, nor to fortune, but to superior brain, as it makes the praise more personal to him.”
—Ralph Waldo Emerson (1803–1882)