The various equity release schemes that are adorning the recent equity property market are a great source of securing an alternative and a regular monthly income post retirement. There are several schemes on release of equity on your property available that pays you good amount of money against your property. But it is always recommended to get the advice of the professional expert before applying for such a scheme since it involves your property. equity release
There are many equity experts available who are forever ready to help you with their expert guidance and proper advice regarding the pros and cons of various equity release schemes. They are the ideal people to guide you about which plan can be the most suitable for your property and also manage your needs well.
The main concept of the equity release schemes is to either lend your property or sell it entirely to the release of equity provider in exchange of a certain sum of money. The amount you would receive against your property would be on the basis of the current equity market rate of the property. You can either take the amount in one lump sum quantity or you can opt for regular monthly installments for a specific period of time. It is recommended that you choose the later since that helps you in keeping a tab on your monthly budget.
But it is also to be kept in mind that on your part you must make sure that the amount that you are to receive from the equity schemes should be counter checked with the help of an equity release calculator. This type of a calculator is an online device that helps you to calculate the amount of money that you can receive against your property at the market valuation rate. The equity release calculator is a free online device and is offered by many equity related websites. Thus, you can take help of any such website for free and calculate the amount that you can get from such a scheme.
To use the equity release calculator, all you have to do is provide all the detailed information about your property and yourself into the calculator. But always remember that the amount obtained from such calculator is just a prediction and not the final decision of the lending institution. It is still advised that you compare at least two calculators to get a clearer picture of the equity amount.