Basic Features Of An Equity Release Scheme

There are different equity release schemes which are run by certified equity release companies. Many retirement equity release schemes have the following basic features:

1. They provide a steady source of income or a monthly stipend for the recipient

2. They offer equity release rates that are either fixed or flexible depending on the plan

3. They allow the recipient or retired home owner to remain in their homes till their demise.

4. The money borrowed to these retired home owners are gotten back when these homes are sold and if there is surplus after sale, the money goes to the next of kin of the recipient.