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Secured Loans (With equity release)
A secured loan is one that is taken out against property, whether that be a house, home or other type of property. The most common form of secured loan is the mortgage, a loan product that is taken out to cover the purchase of a property. If the homeowner does not keep up their repayments then the 'secured' part of the loan comes into play and the creditor can repossess the property.Many people who need to get their hands on some cash have recently been benefiting from the valuable option of an equity release opportunity on their property. This means that the homeowner can release some of the value of their property and receive it as cash, either as a lump sum or as a monthly stipend. Clearly, taking a sum of money away from the value of your property will reduce its overall value, potentially down to nothing, which is why these products are generally offered to those who are over 55 years of age. Many retired people who do not wish to will the property as an inheritance can live off the value of their property whilst remaining in the home.
It is possible to take out a mortgage product that gives the borrower the opportunity to release some of the equity in their home if necessary. Equity release is also a way that some people will resolve their significant debt problems by having a specialist mortgage advisor help them as part of an IVA agreement to release equity to pay off their creditors.
Its as easy as 123, call 0808 22 22 123 or fill in our online enquiry form.