Buy To Let Equity Release
Use Buy To Let Equity Release To Fund Your Retirement
So why is it only now that people are looking at buy to let equity release? In the past no one thought about how they were going to fund their retirement. They worked one job for most of their life, all the while accruing a retirement nest egg through their company's defined benefit scheme. When they came to retire they found that they had a significant pension waiting for them. But these days, jobs are more transient and companies have either scrapped pension schemes completely or have opted for defined contributions, which usually mean smaller pots for the employee. So now people have to find other ways to fund their retirement in lieu of a significant pension, and for some that is buy to let equity release.
On top of that, more people have to consider buy to let equity release because we are all living longer. In the last century people were expected to live for maybe 15 years into their retirement, but thanks to enhancements in medicine and care, people are expected to live much longer during this century. So if you are going to be retired for 30 or even 40 years, you need to find a way to fund that - and one way is buy to let equity release.
The process of buy to let equity release is simple - using an equity release provider you simply use some of the equity stored in your buy to let property as a means of funding a long-term loan. It might be that you only need £10,000 and have to unlock maybe 5% of the equity you have amassed. But then again you may want to take out a much bigger percentage to help you for a number of years - it's up to you, but with buy to let equity release the possibilities are endless.
Buy to let equity release not only allows you a lump sum from your property, but it also allows you to keep hold of the property - buy to let equity release doesn't mean you sell the whole property. So you can continue to receive rental profits each month, further improving your retirement.
So if you think buy to let equity release is right for you, talk to a mortgage adviser about your options, It is not for every landlord, but for some it is the perfect way to make their retirement easier. Proceeds from buy to let equity release can be spent on a million and one things - all you have to be sure of is that it makes you better off.
