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Equity release simply put is : releasing capital from your home but retaining the ability to still live there without having to make payments from your income towards any accumulating interest.
This is achieved by means of a lifetime mortgage. The balance being settled on your death or if you are put into long term care. Obviously there is more to it than just that and that is where I come in.
Going into Equity Release should always be looked on as a last resort; solutions such as moving and downsizing to release capital can be far more efficient methods of raising capital.
In some cases re-mortgaging, approaching your family for help, the beneficiaries of your estate, may turn out to be a more suitable and economic solution for you and your estate.