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Equity release is the method of taking out cash for the worth of your house and converting it into tax-free cash. It is a long-time loan which is repaid utilizing your home when you need cash for the long term. Equity release is designed in such a way that you can take the money as a lump sum or in smaller amounts, to convert your dreams into reality. The money can be used for different purposes like renovate your home, go for a dream vacation or help your children.
Aviva offers the best kind of equity release product known as a lifetime mortgage. Aviva equity release is the method of estimating the value of your house and take cash to utilize it according to your needs. There are two kinds of lifetime mortgage choices:
Aviva Equity Release is not suitable for all and for all homes. It mostly depends on you and your situation. An individual could be an eligible person if:
The lifetime loan is not designed to be repaid in full before the individual and their partner move permanently to long term care or pass away. If they need, they can make partial payments after using the loan for about a year. Entering into an equity release is a big decision to take, so understand the pros and cons and decide wisely.
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