Equity release scheme - A scheme designed to allow homeowners to "release" cash from the value of their property. They come in two varieties:Home income plansHome reversion schemesWith either type, you can choose to receive the equity as income, as a lump sum or as a mixture of both.Schemes offered by financial institutions vary considerably and, as always, it is important to look at the small print. Some schemes are only available to people over 70, while others are suitable for younger homeowners with longer life expectancies.Safe Home Income Plans (SHIP) is a self-regulatory body that was formed in 1991 to promote fairer schemes after thousands of elderly homeowners were left with large losses in the late Eighties. SHIP can be contacted on 01242 539 494.
Equity release scheme : a scheme designed to allow homeowners to "release" cash from the value of their property. they come in two varieties:home income planshome reversion schemeswith either type, you can choose to receive the equity as income, as a lump sum or as a mixture of both.schemes offered by financial institutions vary considerably and, as always, it is important to look at the small print. some schemes are only available to people over 70, while others are suitable for younger homeowners with longer life expectancies.safe home income plans (ship) is a self-regulatory body that was formed in 1991 to promote fairer schemes after thousands of elderly homeowners were left with large losses in the late eighties. ship can be contacted on 01242 539 494.
Equity release scheme