#1: You can take time to actually enjoy all the little things in life like taking a walk with your spouse…
Walking in the countryside is free however after working up a thirst and burning off those calories what you really need is to stop off at a nice country pub for a few drinks and something to eat. For some people living off a low income in retirement means eating out can be an unaffordable luxury. Taking an equity release mortgage can improve your retirement simply by giving you additional income to afford to eat out in restaurants on a regular basis without watching the pennies.
#2: You can take a care free holiday without having nagging work worries at the back of your mind…
A holiday isn’t really a holiday if you’re thinking about work and the amount of emails that will be in your inbox when you return.
Taking a holiday should be a relaxing experience with your nearest and dearest. Imagine not having that email inbox and having the opportunity to travel for more than two weeks at any one time unlike when you took annual leave from work. You could take round the world cruises, trips to Europe or weekend breaks by utilising the savings you never thought you had….. Those savings are the equity you have in your property. By arranging an equity release loan on your property you can have the capital you need to take regular holidays to recharge your batteries.
#3: You are our own boss and call the shots, spending the day doing exactly as you choose.
You could decide on the spur of the moment to take a drive into the countryside or to the seaside – but how do you get there? Many people take advantage of the free bus passes available but do you want to be tied to travelling at certain times or use an infrequent service? Maintaining a car in retirement can be expensive the older your car becomes with the servicing, MOT and ongoing repairs. Everyone can dream about the car they would like but in reality a car gives you independence and freedom. If you take an equity release loan from your home like thousands of other people in retirement the only other thing you need to do is look at the equity release calculator to decide if you can buy a Fiesta, Focus or Ferrari!
#4: Never having to pull yourself out of bed on those sub zero January mornings. Stay in bed with a book instead!
Some people may be eligible for grants to upgrade their central heating or if they need a new boiler. If you’re not one of the lucky ones it can be difficult finding the money to pay for these which is a worry in addition to the ever increasing gas and electric bills. By taking out an equity release plan you could benefit from having the finance in place to pay for a new heating system and equity release could also give you the peace of mind that if any other of your household appliances breaks down you have the money to go out and buy a replacement.
#5: For the first time in your life you’ve finally achieved your financial goal to be debt free.
Planning for retirement isn’t easy with all the financial commitments we face during our working life. Often there is more month left at the end of the money! Many people find they only have some spare income once their children have left home and they can finally start to reduce their debts. However, if you find that you are still repaying loans or credit cards into retirement when your income has reduced arranging an equity release loan could be the answer. You can repay your debts with an equity release mortgage and at the same time free up some of your income to treat yourself from time to time!
#6: You have more time to spend with your grandchildren – and to treat them!
If your grandchildren are old enough to be ‘fleeing the nest’ the likelihood is that in the future they will need money whether it’s to pay university fees or for a deposit to buy a house of their own. Why not arrange an equity release loan and gift money to them when they need it most. They’ll benefit from the cash you’ve given them to fulfil their aspirations and you’ll benefit by watching them enjoy the money whilst you can.
#7: Enjoy all those hobbies you longed to take up but never had time to…Now you do!
Many hobbies take up a lot of time and it’s difficult to find that time when you’re working because of all the other commitments you have. You could have the time to paint a water colour of your favourite landscape, go fishing for the day on the banks of a river or enjoy a game of golf on a regular basis. Simply decide which equity release scheme is best for you. Whilst retiring from work can provide you with the time you require for your hobby an equity release loan can provide you with the funds you require to do it!
#8: You don’t have to deal with the rush and chaos of the morning journey to work….
Having spent time packing for your next venture the only journey on your mind is with the caravan in tow to your chosen destination. Whilst some people enjoy taking to the road, staying in different places and meeting different people others prefer having their ‘home from home’ positioned at their favourite camp site. How can you replace your caravan for the latest model? With an equity release loan of course! Interest rates on equity release mortgages in the UK have never been lower.
#9: You can focus on your health and well being
Whether that means taking up yoga or eating better, with more time on your hands you can focus on a healthy lifestyle. Hopefully you’ll remain in good health for many years but everyone realises as you get older you get more aches and pains! If these lead to a more serious problem that requires hospital treatment would you prefer to rely on the NHS or take the opportunity to be treated sooner? By arranging an equity release loan all your medical expenses could be paid for meaning you’re back to full fitness enjoying retirement again as soon as possible.
#10: Every day is a blank canvas which you can fill with whatever you want to do
Have you ever thought about early retirement? Or do you find yourself jobless, aged over fifty five with little prospect of finding a job that you want? Making your mortgage repayment may be a struggle if and when your income in retirement reduces or if you find yourself earning less money. It may not surprise you that the number of pre-retirees out of work has hit a fifteen year high.However, there’s no need to worry as you could seek advice from a qualified independent financial adviser who can explain the features and benefits of an equity release loan, leaving you with no monthly repayments!