SIMPLY MONEY
Equity Release
The ideal solution to access some of the equity in your home on top of your current mortgage.
What is Equity Release?
Equity is the value of your home, less any money you owe on your mortgage.
‘Home equity release’ lets you access some of your equity while you continue to live in your home. For example, you may want money for home modifications, medical expenses, or for other worthwile purposes.
The more you borrow against the value of your home, the higher your repayments are likely to be. This also means you could risk losing your home if you cannot meet those repayments.
Are there risks?
Before you borrow against your equity, it’s worth considering:
The term of your current loan, if you have one, could be extended.
whether or not you’ll be able to make repayments if interest rates rise; and
where the money is going, whether it’s an investment that will pay for itself or a purchase that may see depreciation.
You should always obtain advice before choosing an Equity Release. Simply Money can help you understand how much equity you have in your home and whether or not you can or should access it.
Still have questions? Ready to apply?
Understanding what you need in a loan and helping you navigate the many options is what we do best. Get in touch with us on 0418 340 485, or, if you prefer, you can email us using the form below. We are here to help!