27th March 2019
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Ask most parents what they want for their children and they would most likely say for them to be happy, healthy and financially secure. Financial security often means having a well-paid job and your own house to live in. Yet nowadays, stepping onto the property ladder for many people seems out of reach due to the recent rise in house prices alongside a sluggish growth in wages. Most mortgage lenders would lend you on average 4 times your single or combined spouse salary, and for many people nowadays this just isn’t enough to purchase a property. The shortfall seems to be in the ability to put down a larger deposit – and this is where the ‘Bank Of Mum And Dad’ could help out.
If a willing contributor has accessible savings to contribute to a deposit then this could be the answer to the deposit problem. Nevertheless, realistically we don’t all have a hidden pot of money at our disposal to use as we please. Or do we? If you own your own home, are aged 55+ and live in the UK then the money tied up in your home could be released to assist a loved one in purchasing a family home of their own.
Gifting is a financial tool you could use Equity Release for. If you are a home-owner then you could release some of the equity in your property to gift to a loved one to help them buy their first, or even second home.
The first step onto the property ladder has always been difficult but in today’s financial climate it seems to be further out of reach for many than it ever has been. If gifting to your children through Equity Release is something that you would like to consider, in order to help them make that incredibly difficult leap onto the first rung of the housing ladder in a seemingly impossible housing market, then why not contact Kevin Woods on 01489 454545, or at email@example.com to discuss your situation in confidence and without charge or obligation of any kind. After the gift of life, it could be the best gift you will ever give to your children.
Equity release could be the answer to some of your financial questions. If you would like to know more about it, and see if it could be the right option for you, please book an appointment or request a call-back
We will be in touch as soon as possible to arrange a convenient time for a meeting, which is completely free of charge and without obligation.
I'll be in touch as soon as possible. If you'd rather call me in the meantime, please feel free to give me a call on 01489 45 45 45