Why equity release?
For those in retirement, it’s a time when they should be able to do what they want, when they want. It should be a time to look forward to.
Today’s older generation is living longer and is generally fitter and more active. In fact increasing numbers of people will spend more time in retirement than they did at work, often the only restriction on how this time is spent is money.
Is their retirement income keeping up with inflation? Are they enjoying the holidays they have always dreamed of? Is it time to replace their car or update the kitchen? Would they like to share some of their wealth sooner with the younger generations of their families?
The solution could be locked in their greatest asset – their home.
There are several ways of unlocking the value tied up in their home, including trading down, selling the home and moving to rented accommodation or taking out an equity release plan.
Equity release allows people to release the money tied up in their home without having to move.
Over the past forty years, tens of thousands of retired homeowners have found that equity release plans provide a safe and successful method of releasing regular income or a cash lump sum to improve the quality of their life in retirement.
How the money is used is up to the individual.
Previous Bridgewater customers have spent their money on:
- Helping children or grandchildren onto the property ladder
- Paying for health treatment and care
- Funding the costs of grandchildren's education
- Gifts to relatives
- Repayment of an outstanding mortgage and/or other loans and debt
- To provide and income to supplement pension income
- To fund major purchases such as a new car, holiday home or caravan
- To reduce the cash required to purchase a new home
- Home improvements