Equity Release Funds Home Improvements and a Better Standard of ...

Homeowners that fail to qualify for home improvement grants but face the need to have urgently needed or long-term desired work undertaken on their properties, whether new windows and doors, a new roof, conservatory, new boiler or heating system, fitted kitchen, bathroom or bedroom; are increasingly turning to Equity Release as the answer to their financial needs.

Making improvements to a home is a wise investment. However, meeting the costs of those improvements is often another matter for those who are retired and struggling to make ends meet on their poorly performing pension or dwindling savings.

Geoff Charles, Managing Director of Bower Retirement Services, says: ?Many homeowners have money locked into their properties and this money could be released ? tax free ? to spend on anything, including home improvements.?

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Equity Release allows home owners to release tax-free cash from their homes and one of the most popular reasons for taking out these plans is to fund home improvements. Many home improvements can have cost saving effects ? such as a new heating system that boosts energy efficiency ? so the benefits are enhanced.

Home improvements that can be funded by equity release include:

New windows and doors Conservatories New kitchen or bathroom Refurbished bedroom Landscaped garden Extension New heating system Interior design New roof

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Other things that can funded by equity release include helping the family financially by getting them onto the property ladder or grandchildren into private schooling; making a dream purchase such as a caravan, motor home, car or boat; taking regular or luxury holidays or pursuing enjoyable leisure interests.

Geoff Charles is the Managing Director of Bower Retirement Services, an Essex-based FSA regulated independent financial advice company that offers specialist advice on equity release throughout the south of England and free on-going, lifelong customer support. For more information visit http://www.brsequity.co.uk, telephone 01277 262724 or e-mail info@brsequity.co.uk.

Source: http://ghrtlawfirm.com/equity-release-funds-home-improvements-and-a-better-standard-of-living-in-retirement.html

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