How Does Equity Release Work

In this Blog we're going to help you understand a little bit more about Equity Release. You may not look on your home as part of your financial planning however it may hold the key to helping you plan for your future. This is because your home could be worth more than you paid for it which means Blake and Day may be able to help you access some of that money. So whether you're looking to make some home improvements, help your children get on the property ladder, take a trip of a lifetime or simply supplement your income, a lifetime mortgage could be a good option for you. If this sounds interesting you will probably want to know if you're eligible and how it all works. To qualify for a Lifetime Mortgage you and your partner if you have one need to be over 55. You need to own your own home worth at least ?75,000 and apply for at least ?15,000 pounds. Unlike a normal mortgage there's no monthly repayments. This is because the loan and any interest are r...