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The Importance Of Ship To The Equity Release Market
Protecting the Consumer Ever since 1991, SHIP has been protecting consumers with the no negative equity guarantee at the heart of their work. A home reversion plan has the potential to unlock a tax-free lump sum from the value of a property to supplement income in retirement. As aforementioned, their code of conduct is upheld by the vast majority of the market. It is therefore beneficial to ensure that, when taking out an lifetime mortgage, you check to see whether the provider you are using promotes this. Campaigning for Equity Release However, SHIP’s value to the equity market runs deeper than that. They continue to improve the public perception of lifetime mortgages whilst also campaigning to improve its use to the Government. In these difficult financial times, funding retirement is becoming more and more of an issue for many homeowners. SHIP continues to champion the merits of a home reversion plan as a viable option that retirees could consider. The hesitancy that still strangles the market to a degree, caused by the 1990s debacle, causes many people to think twice about taking out a plan. However, this is also where SHIPs involvement has proved invaluable in re-shaping some of these opinions; led by the no negative equity guarantee. So, when considering an equity release scheme, make sure your provider adheres to the code of conduct. • Equity release could affect your current or future entitlement to means-tested benefits • Releasing equity to spend in your lifetime can reduce the amount that is left in your estate when you pass away Article Directory: http://www.articledashboard.com |
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