With house prices remaining stagnant for the moment, homeowners considering what will happen to their assets when they are gone may be considering the benefit of releasing equity from their home.
Despite increasing by one per cent over the course of 2011, prices in the property market are stationary but stable.
"The one per cent rise in house prices recorded over the past twelve months could hardly be described as a strong performance, but against a backdrop of anaemic economic growth and a deteriorating labour market, UK house prices were surprisingly resilient in 2011.”
With the value of homes not expected to rise anytime soon, releasing equity could be an option to many families wanting to see their families enjoy their inheritance while they are still alive.
However, releasing equity needs to be properly researched and understood before a decision is made, as homeowners will have to deal with the consequences of their choices and do not want to get into unnecessary debt. There are many schemes available and choosing the right one is an important decision to make.
Smith Sutcliffe are able to advise on the various types of scheme and will also assist with the completion of the relevant documentation before the money is released. We can ensure that you are properly advised and that the provider of the scheme operates within the appropriate regulations.
