Scott Nelson - Debt Expert
Posts by Scott Nelson:
Equity Release for School Fees – Is It Possible?
Yes, using equity release to cover school fees is indeed a viable option for older homeowners. Read on to unravel the specifics…
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Interest Only Equity Release? All you Need to Know
Interest-only equity release, a specific type of lifetime mortgage, allows you to reduce the growing costs of your mortgage by making monthly interest payments while still living in your home. Intrigued? Let's dig deeper...
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What Is The Average Interest Rate On Equity Release
The average interest rate on equity release has recently been recorded at 5.63 percent, representing a rise since the start of the year. Read on to understand more about equity release and its potential implications.
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Are Lifetime Mortgages a Good Idea? – Guide, Advice & More
Lifetime mortgages can indeed be a good idea, especially for individuals later in life who need funds to enhance the quality of their retirement. Curious? Read on to find out more...
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Equity Release Criteria – Who Qualifies?
Standard equity release criteria include homeowners being at least 55 years old and owning a property that meets certain lender conditions for its potential resale value. Ready to dive in?
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Equity Release or Downsize? Complete Comparison & FAQs
Choosing between equity release and downsizing can greatly impact the financial comfort of your retirement years. Dive in to explore your best option...
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Dangers of Equity Release – What You Need to Know
Equity release can provide financial flexibility in your later years, but it's not without risks, such as the potential for escalating debts and the impact on your estate's value. Read on to make an informed decision...
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Can You Get Equity Release on a Leasehold Property?
Yes, you can get equity release on a leasehold property, provided certain criteria such as sufficient remaining lease term are met. Dive in to discover more.
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Can You Lose Your House with Equity Release?
Under most circumstances and when dealing with Equity Release Council-approved lenders, you will not lose your house due to equity release, even in a negative equity situation. Want to understand why?
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The Best Equity Release Brokers – Overview & Tips
The best equity release brokers in the UK can guide you in accessing loans secured against your home, providing comprehensive support in understanding and navigating lifetime mortgages and home reversion plans. Intrigued? Dive in to learn more.
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Equity Release Northern Ireland – Detailed Guide
Equity release in Northern Ireland offers homeowners aged 55 and over a way to tap into the wealth tied up in their property, without the need for monthly repayments. Intrigued? Read on...
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When I Remortgage Can I Release Equity? Question Answered
When I remortgage, can I release equity? This is a common question, especially among people living in their first home. We’ve answered this question and related questions below for a full understanding. What is home equity? Home equity refers to the value of a property that the homeowner owns outright. You can work out your […]
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Release Equity to Pay off Debt
Yes, it is indeed possible to release equity to pay off debt, turning a substantial portion of your home's value into cash for your immediate use. Stick around to discover the intricacies of this financial strategy.
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Best Way to Release Equity from Your House – Complete Guide
The best way to release equity from your house in the UK depends on your personal circumstances and the different options available to you, such as equity release schemes, second charge mortgages, or remortgaging. Dive in to understand more...
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Pension Equity Release – Complete Guide & FAQs
Pension equity release refers to the process of withdrawing money from your personal pension before the designated retirement age, which, although can provide immediate funds, may also entail tax implications and potential future financial challenges. Continue reading for a comprehensive guide and crucial insights on this matter...
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Alternative to Lifetime Mortgage – What are my options?
Alternatives to lifetime mortgages exist, including home reversion schemes, home equity loans, and downsizing your property. Let's delve in…
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Pitfalls of Equity Release – What to Look Out For
Equity release, while offering the opportunity for financial flexibility in retirement, carries potential drawbacks that must be considered. Read on to unravel the complexities and make an informed decision.
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Equity Release for Over 70s – Detailed Overview
Equity release for individuals over 70 allows homeowners to unlock a significant portion of their property's value without the obligation of monthly repayments. Dive into this article to understand the ins and outs of this financial tool for senior homeowners.
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Is Equity Release a Con? Quick Analysis
Equity release is not a con. But, equity release scams do exist. That's why it's important to only consider lenders that are regulated by the Financial Conduct Authority. Let me explain...
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Updated Interest Only Lifetime Mortgage Rates
The latest interest-only lifetime mortgage rates for 2022 range between 3% and 8%, influenced by factors like your loan amount and the specific lender. Discover more in the article below...
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Equity Release Horror Stories – What to Avoid
Equity release plans allow senior homeowners to release tax-free cash from the value of their home. It is a popular borrowing method in the UK, but it can be costly. Let me explain...
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Can I Rent out My House with Equity Release? Property Laws
Once you've unlocked equity, you cannot rent out the property. This is because equity release programs are only available on properties that you live in full time. Let me explain...
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Equity Release Age Limit
You need to be at least 55 years old to be eligible for an equity release program. There is no upper age limit. Generally speaking, the older you are, the better your deal will be. Let me explain...
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Can I Sell My House if I Have Equity Release? Quick Answer
You can sell your house if you have equity release. But, if you want to downsize, you may have to repay some of your debt, which could trigger early repayment fees. Let me walk you through your options..
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Can I Use a Lifetime Mortgage to Buy a House? – Guide & Advice
You can use a lifetime mortgage to buy a house. But, it must be an investment property. You cannot use a lifetime mortgage to buy a house that you plan on living in yourself. Let me explain...
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How Does Equity Release Affect Benefits? Complete Analysis
Taking out equity release may impact your eligibility for means-tested benefits. These include, but aren't limited to, pension credit, council tax reduction, universal credit. Let me explain...
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Equity Release Interest Rates – What Are They? Guide, FAQs & More
Equity release interest rates vary, typically ranging between 4-8%, and they significantly impact the total cost of equity release over time. Dive in to understand more...
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4 Little Known Truths about Equity Release
Equity release allows homeowners over 55 years old to borrow a percentage of their home's value without having to make repayments. It is a popular method of borrowing money. But, many people still don't know these 4 little known truths about equity release.
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Can I Move House if I Have Equity Release?
Yes, you can move house even if you have an equity release, though the conditions depend on several factors such as your lender and the new property's suitability. Intrigued? Let's dive in...
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Equity Release or Bank Loan? Which Is Best?
Choosing between equity release and a bank loan largely depends on your unique financial situation, age, and long-term plans. Read on to gain insight into these two options and their implications.
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Equity Release Companies To Avoid? Reviewed
You should avoid any equity release companies that are not regulated by the Financial Conduct Authority or members of the Equity Release Council. You may also want to avoid those that don't allow voluntary interest payments or have no downsizing clause. Let me explain...
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Lifetime Mortgage for Over 60s – In-depth Guide
Yes, it is indeed possible to secure a lifetime mortgage if you're over 60, with certain conditions to be met. Intrigued? Dive in for an in-depth exploration.
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Equity Release No Early Repayment Charges – Is It Possible?
Yes, it is indeed possible to have equity release without early repayment charges under certain conditions. Intrigued? Let's delve into the specifics.
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What Is 100% Equity Release? Overview & FAQs
100% equity release pertains to obtaining a loan equivalent to the total value of your property, typically through a lifetime mortgage or home reversion plan. Intrigued? Let's dive in.
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Equity Release Providers Northern Ireland
Equity release providers in Northern Ireland offer schemes like lifetime mortgages and home reversion plans for seniors over 55 looking to release some of their home's value. Read on for an updated 2022 guide...
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Enhanced Equity Release – What You Should Know
Enhanced equity release refers to impaired or enhanced lifetime mortgages. These plans provide people with poor health the opportunity to take out more equity or pay a lower interest rate. To be eligible for an enhanced equity release plan, you need to meet strict eligibility criteria. Let me explain...
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