People of all ages have debts – the young as well as the old. In fact, the world runs on loans. This means that people are always in debt. There is nothing wrong with having debts as long as you are able to repay your debts. Unfortunately, you might be in a situation where you have hit retirement and have not been able to repay your debts. Without a regular source of income, you may have difficulties repaying your debts and are looking for the right solution.
We at UK Debt Consolidation have the solution that you are looking for - debt consolidation through equity release. If you are over 55 years and own your own house, you can qualify for an equity release scheme which will allow you to release equity from your house. We offer advice and help to home owners who are in their retirement and are looking for a way to consolidate their debts by releasing equity from their homes to pay off existing debts that have a higher rate of interest than mortgages.
Consolidating your debts through the use of equity release certainly does have its benefits. Here are just a few.
All existing debts can be paid off at one time.
Equity release normally has lower interest rates than other type of loans.
With some equity release schemes, you do not have to worry about making any repayments.
You only have the equity release loan to manage.
The money that you receive is tax free.
You can release more money than is actually needed to repay your debts and can use that money to finance other aspects of your life.
You must be 55 years or older
You must be the owner of the property.
The property must be in good condition.
The property must have a minimum value of at least £70,000.
You must be willing to have your property sold after you die or move into long term care to repay the equity release provider.
A Solution to your Debt Problem
We strongly believe that no matter how difficult a problem is, there is always a solution. This applies to your debt problems. We can help you find an answer. All you need to do is get into contact with our consultants and provide them with the required details about your case so that they can set-up a FREE consultation with our financial advisers.
Readily Accessible Consultants
Our consultants are eager to answer any debt related questions that you may have and to provide you with advice and support to help you get out of the unpleasant situation of being in dept.
Long Term Debt Consolidation Solutions
Our focus is to offer you the most suitable solution to help you to become debt free and to spend your retirement without having to worry about debts. We will guide you and make sure that we help you to find a long term debt consolidation solution.
Experienced Financial Advisers
As there are many different types of equity release schemes, you will need explanation and guidance to help you decide which scheme is the best scheme for you. You can depend on our team of financial advisers to guide you and to help you choose the right scheme.