Releasing money from your property
Sometimes, especially later in life, one needs an additional source of income. Releasing some money from the value of your home while you are still living there is known as ‘equity release.’ This can be an option for asset-rich people who needs additional finances to boost their spending power in specific circumstances.
Some of the common reasons for equity release include:
- Taking an early retirement
- Needing it for medical treatment
- Financing a wedding or
- Helping children
Should you consider taking out an equity release product, you should consult an independent property solicitor. Doing this is a major decision which should not be taken without professional advice.
Our solicitors at Robertsons can advise you on this complicated area of the law and provide expert advice on how to approach equity release.