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:
“If we live in the Nineteenth Century, why should we not enjoy the advantages which the Nineteenth Century offers? Why should our life be in any respect provincial?”
—Henry David Thoreau (1817–1862)
“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)
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—Frank Pittman (20th century)