Equity Release F.A.Q.

Will I be able to move house in future if I take out an Equity Release Scheme?

That will depend upon the type of equity release scheme that you have chosen. If this is something of particular concern to you then ensure that the scheme you opt for is one that allows you to move.

With a mortgage equity release scheme there are a number of pitfalls that you should be aware of if you intend to move house. It sometimes occurs that if you move home to a cheaper property you may have to repay a portion of the mortgage or that the interest rate of your loan may change.

You need to look into the terms and conditions of equity release scheme that you are interested in and decide if they are flexible enough for any changes in circumstance that you envisage.

Here are a list of the other frequently asked questions relating to equity release schemes.

1. Will I be able to live in my home for the rest of my life?
2. What costs are involved in setting up an Equity Release Scheme?
3. How much money will I receive?
4. Will I be able to move house in the future?
5. What if I change my mind?
6. Are Equity Release Schemes regulated?
7. What happens if property prices change?
8. Who pays for repairs to the house?
9. What happens if somebody moves in with me after I take out an equity release scheme?
10. What will happen to my home after I die?
11. Does my home have to be sold within a set time period?
12. What will happen if I need to raise further funds in future?

Equity Release Providers