Many people shy away from equity release schemes as they firmly believe that they have to preserve their estate for their children. By releasing some or all of the cash while they are still alive, they feel that they are robbing their sons and daughters of their rightful inheritance.
Yet you have to consider that we were not put on this earth solely to provide for our children and leave them a comfortable house in our will. Most children would agree that they would prefer their parents to lead a comfortable life than them having barely enough money to survive.
Equity release can be the best scenario in many cases as you can take a lump sum from the bank or company to live on and enjoy your twilight years, which is then paid back with interest when you and your spouse pass away, from the sale of the house.
It can give you the best of both worlds as you have both the money and a home to live in for the rest of your life.
By having a lump sum released against your house you are ensuring that you have adequate funds for a comfortable retirement, which means that you also have enough money to enjoy yourself properly with your children and grandchildren, leaving them precious memories of your time together – rather than just bricks and mortar.
