- These schemes free up cash as either a lump sum or regular income.
- Some products do not need payments until the property’s sale.
- You may stay in your house for the rest of your life.
- Depending on how much cash you take, you may receive more at a later stage.
- Though there are restrictions, you may move to a different property.
- Your property’s value, as well as the estate you leave your heirs, is reduced.
- You are borrowing against or selling your property when there may be other methods to raise the funds you need.
- It may be more expensive; compare this to the costs of buying a smaller property.
- You may find you no longer qualify for means-tested benefits and grants.
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