How lifetime mortgages can help people get onto the property ladder
Homeowners aged 55+ can use equity release to help family members onto the property ladder. The money you release can help fund a deposit for their first home.
There is a great deal of financial pressure on many of us these days, but prospective first-time buyers may be finding it especially challenging to buy a property following the recent mortgage hikes.
Perhaps you have younger family members trying to get on, or move up, the property ladder. If so, it can be frustrating to have property wealth but not the available cash to help them find a big enough deposit.
The good news is that equity release could give you the access to the money they need. To explain how homeowners can use equity release to help first time buyers onto the property ladder, we have put together the following information:
- The challenges facing first-time buyers
- Can equity release help first time buyers onto the property ladder?
- How does an equity release plan work?
- Who is eligible for equity release?
- Payment options for equity release for first-time buyers
- Risks and benefits of equity release to help first-time buyers
- Finding the right equity release adviser
We hope this article will help you understand more about using equity release to help first time buyers. For further information and advice, please don’t hesitate to contact our friendly selected equity release advisers.
Simply call us on 0800 096 2215 or request a call back and we’ll arrange a no-obligation appointment with an adviser for you. Alternatively, check your eligibility and get an initial indication of how much tax-free cash you could unlock.