We all know that due to rise in inflation and increase in the prices of all goods, it is becoming very difficult to maintain a good standard of living. When employed people are finding it difficult to fulfill their needs in such situations then just imagine how retired people with a small amount of pension in their hand will will meet their requirements. Hence, there is a need for some extra income. However, working at this age is not possible so the only way to get some extra income is retirement equity release.
Retirement equity release is a plan by which you can release equity from a property owned by you. However, it is to be noted that everyone cannot avail the benefits of these plans. Only people who are more than 55 years of age and own a property can get additional income under these plans.
These retirement equity release plans provide a flow of regular income to the retired people on the basis of the value of their property and the most important advantage of these plans is that the borrower can remain in their home and maintain the ownership of the property for his entire life. Further, the borrower is not required to repay anything to the equity release provider because they will recover the amount given to him by selling the property when he dies.
It is to be noted that equity release is the best solution for the financial problems that occur post retirement. However, it is very important to know the exact amount that you can get by releasing equity from your property. You can know the exact amount of equity release by calculating it by using an equity release calculator. An equity release calculator helps in calculating the accurate amount of equity that can be released from your property.
The amount of equity release is dependent on three factors. They are: property or house, age of the applicant and the amount of pensionable income. The equity release calculator calculates the amount of equity on the basis of these three factors. However, in some cases the amount of outstanding mortgage may also be taken into consideration.
But now the question is where to find an equity release calculator. You can easily find an equity release calculator on the websites of various equity release providers over the internet. These calculators provided by different websites are highly interactive and user friendly thereby making calculation of the equity release amount easy.
Dorthy Williams is a professional author who writes articles on retirement equity release and equity release calculator For more information on these he suggest to visit http://www.therightequityrelease.co.uk
A third film called Money as Debt III – Evolution Beyond Money, released in 2011, presents Grignon’s ideas on the possible forms money may take in the future.
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