A Remortgage Equity Release Deal Could Change Your Life
It is possible that a remortgage equity release deal could change your life. Aside from the usual advantages from what a remortgage has to offer, a remortgage equity release could make it possible for anyone who is a homeowner and at least 56 years of age, to reap the benefits of many years of monthly payments. The only catch is the property maintains the debt and has to be repaid.
There are a couple great advantages the remortgage equity release deal offers:
ADVANTAGES
- It is paid out as a tax-free lump sum.
- It can reduce the amount of inheritance tax to be paid upon your death.
DISADVANTAGES
With the good comes the bad. A couple of disadvantages to this type of remortgage are:
- It may decrease the amount of money your family will inherit at the time of your death.
- It may limit the amount of money to bequeath to charity.
- Some things to do with the money on the payout from the remortgage equity release deal are helping family members get out of debt, taking yourself on a dream holiday or just purchasing something that was not affordable until now.
- When the senior years are upon you, keep in mind that a remortgage equity release deal is available to make a significant difference in your life or the life of a family member.