Take control of your retirement finances with equity release

Partnership Promotion 16 October 2017

We lay everything bare in order for you to make the most informed decision on equity release and help answer your fiscal questions and worries

We lay everything bare in order for you to make the most informed decision on equity release and help answer your fiscal questions and worries

Perhaps the biggest issue to deal with when shifting from work to retirement, is the change in your financial situation. Moving from a steady salary, to an income generated by savings and pensions takes some getting used to, and can become a demanding concern where debt is involved.

Vince Smith-Hughes, a retirement income expert at Prudential, says: “For most people the move from work into retirement will see them having to cope with a drop in their income. Having to use precious retirement income to pay off debts could make life even more tricky for the newly retired.”


It could help you deal with outstanding debt

First and foremost, if you are struggling with large debts it would be prudent to seek advice from dedicated organisations such as Citizens Advice or debt charity StepChange.

For more manageable levels of debt there are other options to consider. If you have significant cash savings, using these to pay off personal debt is the most sensible answer.

However, if you're finding that your retirement finances could do with a tax-free cash boost, then releasing equity might be the right option for you. We have carefully selected a range of products that our advisers will compare for you. With lenders approved by the Equity Release Council and flexible features prioritised throughout, we’ve designed this selection of products to offer great value for you and your family, both now and in the future. The Equity Release Council ensures that you are guaranteed to never owe more than your home’s value.

It is always important to remember that by consolidating your debts into a mortgage you may be required to pay more over the entire term than you would with your existing debt.

However, if you are searching for a safe and beneficial way of boosting your retirement finances then why not explore what a Lifetime Mortgage could do for your golden years.

Whether you're curious as to how much you can release, or you want to take the initial steps towards releasing equity, this handy calculator will give you the information you require. 

Or you can contact us on 0800 029 1233 to discuss your needs with a view to arranging a no-obligation appointment with one of our financial advisers.

A Lifetime Mortgage may impact the value of your estate and could affect your entitlement to means-tested benefits. Think carefully before securing other debts against your home. To understand the features and risks ask for a personalised illustration. Reader's Digest Equity Release is a trading style of Responsible Life Limited. Responsible Life Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (https://register.fca.org.uk/) under reference 610205. Only if you choose to proceed and your case completes will Responsible Life Limited charge an advice fee, currently not exceeding £1,690. Our adviser will talk through the setting up costs of a Lifetime Mortgage before you make any decision to proceed.

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