If you want to stay in your home but need some money to make life more comfortable, then you may like to investigate an equity release scheme. There are two schemes available. One is a lifetime mortgage and the other option is home reversion. Both these schemes are complicated and it is therefore always advisable to seek professional advice to see if either is suitable for you. You need to meet certain criteria to participate in these schemes, in the case of equity release guide, you need to be a certain age which is usually 55 and own your own house. You are able to take a lump sum from your property or have the money as a regular income. You are able to stay in your home and will still be responsible for the general upkeep or your property.
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