Equity Release is one of the UK’s fastest growing financial services. Last quarter lending exceeded £800 million for the first time ever, a 44pc year-on-year increase. More advisers are recommending homeowners to use Equity Release as an important source of later life income.
However, there remain some misconceptions surrounding this potentially valuable later life financial service.
Myth 1: You no longer own your own home
Contrary to popular belief, a Lifetime Mortgage does not affect the ownership of your property. You and your partner are guaranteed to remain the sole owner of ...