How can I use the money I release?
If you’re thinking about releasing a cash lump sum, you might already have some exciting plans in mind. Here are just a few of the ways that our customers use the money they access through later life finance:
Pay off debts. If you have an existing mortgage or secured loan, you must pay that off first which can be done by using some of the funds from your equity release. After that, you could clear other existing debts such as credit cards or loans. Any extra money released can be used for something else like the examples below. You should always think carefully before securing a loan against your home to repay existing debt.
Gift money to family. Help the children or grandchildren with a house deposit or contribute to a dream wedding. Replace the car. Upgrade your car, or maybe even invest in a caravan or motorhome to explore and enjoy life on the open road. Go on holiday. Take that holiday of a lifetime or finally visit relatives who live abroad.
14 Get advice today 0800 953 3743
Made with FlippingBook. PDF to flipbook with ease