Property in Business: The Business specialising in Property. Find articles and reviews I found of intrest.The simple answer to this question would have to be an emphatic no! If you do ever consider an equity release scheme, you will need to make sure you do so over an extended period of time. Never, ever, allow a company representative to badger you into making a decision faster than you feel comfortable with - if this does transpire - simply show them the door and turn to another company.
The main issue you need to consider is the fact that it is obvious that any equity release plan will usurp the equity of your home: this means that there will not be the inheritance there for your loved ones in the event of your death.
We live in a society now that is thankfully far less dependent on inheritances, instead, it is more likely that your children or other dear family members whom would inherit, would much rather you enjoyed the money while you are still with them. I know that is how I would rather see things.
If this is a big drawback for you, why not investigate a plan that would allow you to have the best of both worlds: a lump sum to enjoy your retirement with and sufficient equity in the property to ensure something is passed on to loved ones.
This may not always be ideal, though, as once you have passed away, the companies that assume responsibility for the equity you have signed over, can become rather unscrupulous in selling the abode - be very mindful of this as it can lead to real nightmares for the family members that are caught up in such ugly behaviour.