So what are the features of an equity release scheme plan that is commonly available on the market? Below are some of the common features that are associated with an equity release scheme:

One big difference between equity release scheme from a conventional mortgage is that there is no fixed term for equity release and they are open ended.

In addition, equity release plans do not require the borrower to make any monthly payments.

The owner of the property can remain in the property until death, or long term care.

Upon death, the loan is repaid with any additional excess going to the estate beneficiaries. 

The above are the major differences that distinguish an equity release scheme from a conventional loan. If you would like to find out more about equity release plans that may suit your circumstances best, contact us and we would be happy to advise on the options available to you