Putting your mind at rest

Many homeowners will be familiar with the concept of a mortgage, but when it comes to equity release, older borrowers are often less knowledgeable about what to look out for. Equity release is a term which is bandied around a lot and means different things to different people. Equity release for a couple in their thirties or forties, for example, may simply be raising more cash by increasing their current mortgage facility, and making use of the growth in house prices since they purchased their property. However, for the over-55s, equity release means something else and when they are presen...