Equity Release Mortgage Myths Busted on the Release Equity UK Website

Manchester, UK, January 3, 2012

The general manager of releaseequity.net today announced a new publication on the corporation's website which dispels the myths surrounding equity release mortgages.  The company's management team decided to publish the article because of the increasing number of people applying for equity release mortgages in the UK.  

One of the main reasons why equity release mortgage application submissions continue to increase is because homeowners throughout the world are facing tough economic times and they need the extra money to help make ends meet.  Homeowners who need the money the most haven't applied because of a lack of information.  

A recent survey which was conducted by Safe Home Income Plans (SHIP) found that more than seventy percent of people believed that if they were granted an equity release mortgage, it meant that they had to leave their homes.  That's simply not true and it's one of the myths that are dispelled on the Release Equity website.  

'We felt that people had to be informed by a company that specializes in equity release mortgages.  There are many myths that are stopping homeowners from accessing the money in their homes because they're not well informed.  Many people would benefit greatly from an equity release mortgage if they have reliable information to help them make an educated decision.' – Release Equity, UK

The Safe Home Income Plans survey also discovered that more than forty percent of homeowners believed that their children would be responsible for the debt on the equity release mortgage of their property when they passed away.  Another fifty percent of the people that were surveyed said they believed that they had to continue living in the property after accepting an equity release mortgage.

The publication which is entitled the 'Benefits of Equity Release Schemes'  on the Release Equity's  website helps homeowners make sense out of the complexities of the these schemes so that homeowners can take advantage of the extra money in their homes to pay off credit cards or to use the money for whatever reasons.

An equity release mortgage can be paid off when the property is sold after the homeowners pass away.  So no one is required to satisfy the debt which means the house essentially pays for itself over the lifetime of the homeowner which is why these schemes are such a great deal.

About

Releaseequity.net helps people release equity from their homes as well assisting people obtain a buy to let mortgage. The company specializes in helping people over the age of 55 raise cash from their property quickly in the UK. 

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