One Family equity release is strictly for homeowners over the age of 55 years old. They allow their clients to borrow a one-off lump sum but then offer some flexibility regarding repayments. You can make monthly interest repayments, so only the capital is remaining.
You have the option to make a one-off voluntary payment, or you can take the traditional route and make no payments during the lifetime of the mortgage. Which means, during your lifetime. Your family can even be responsible for monthly interest repayments to secure some of the equity in your home for inheritance purposes. The flexibility is one of the more attractive features of One Family.
For a lot of people in Scotland, life is hard, especially financially. We all know that pensions don’t stretch as far as they should, but complaining about it is going to change it. However you look at it, more and more people nearing retirement age see the advantages of releasing the equity in their home.
After all, they’ve earned it by working hard most of their adult life. You get to live in your home for the rest of your life and have the cash you need to make living more comfortable. And possibly, still have some equity left for your family to inherit.
What really matters to us at Equity Release Scotland is that the homeowner remains the owner of their home for the entirety of the mortgage. The whole principle of equity release is to offer security in a turbulent world. You should be able to access some of the equity in your home, that you’ve worked hard for, and not be at risk of losing your home at any point.
That’s exactly what One Family deliver. You are at no risk of losing your home at any time. It’s even your estate’s responsibility to sell the home, upon your passing, to ensure full market value is achieved, so any remaining equity is passed to your loved ones as inheritance.