Retirement is often a point in life when homeowners hope to enjoy time in a way that was not permitted during working years. This could include traveling, exploring, or spending more time with loved ones. With that in mind, many homeowners cannot automatically afford traveling, achieving lifelong goals or exploring. The costs associated with retirement activities is often more than what a homeowner may have saved in a retirement or savings account over the course of working years. That said, retirement mortgages can bridge the financial gap between the funds needed and the amount already saved and available.

While these products can provide for the more lavish wants of retirement life, retirement mortgages are also available for more practical expenses. Homeowners can use the funds provided by a retirement mortgage on such things as providing money or gifts to children or grandchildren, repaying the balance on an existing mortgage, or making necessary repairs to an existing home. Retirement mortgages allow funds to be used for whatever the homeowner chooses. The homeowner can use the cash for necessities or to follow through on lifelong dreams left to be achieved in retirement. Simply having the cash on hand can help to alleviate stress. The homeowner can choose to pay off existing debt, save money, or simply have cash available in the event that something comes up that is unexpected or abnormally costly.

Because there are so many options in retirement products, it is crucial to find an adviser that can provide the best information and has the most knowledge on the products currently available. Every product is different, with different interest rates and available features. It is important to choose a Retirement Mortgage adviser that can outline each of these differences and provide the information related to advantages and disadvantages of each. We have a nationwide team of equity release advisers that can provide all of this information. We provide an initial consultation that is free of charge and includes specialist advice through your preferred medium of contact. We can speak through a face-to-face meeting, via email, through live chat or over the phone. Every one of our advisers is FCA regulated and are members of the equity release council. Because of this, we are available and ready to explain all of the benefits, advantages, and disadvantages of each product currently available and are happy to assist in choosing the best product.