Financial
Types of Equity Release
There are many people who are taking advantages of equity release and these equity release schemes are categorized as below:
- Lifetime Mortgage: In this type of income, the loan secured on the debtor’s home is used to generate income.
- Interest only Mortgage: When a mortgage is made, the capital is repaid on death of the borrower. The interest payments are made from the borrower’s income.
- Home Revision; In this type of equity release scheme, the debtor sells all or some part of the home to third party or specialist Investment Company.
You can choose any type of equity release based on your preferences.