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Many people are taking the opportunity of investing in a second home and an equity release plan can be a useful way to help fund the purchase of an additional property. Below are some of the opportunities that releasing money from your home could enable you to take:

Purchasing a holiday home

Owning a holiday is an aspiration lots of people have, but for many it is something that feels just out of reach. Releasing a lump sum from your home may just enable you to realise this dream. With the UK’s average release being in excess of £70,000 just think of the holiday homes you may be able to afford.

  • A house in Cornwall
  • A chateau in France
  • A bungalow in Germany
  • An apartment in Spain
  • A villa in Portugal

On top of this there are often products available which allow you to release equity on the second home. The amount you can borrow is less than that against your main family home but it is an additional avenue to consider. This is a specialist area and something that is not always available and therefore it is best discussed with an advisor.

Purchasing a buy-to-let property

A buy-to-let property can be a great investment; not only can the properties appreciate in value but you can also use the money from letting the property as income in your retirement. For this reason using an equity release plan to fund a buy-to-let property could be something you wish to pursue.

Many people choose to release a lump sum from their own home to help pay for the buy-to-let property but there are often equity release plans specifically designed for landlords. With this in mind you may be able to build your own buy-to-let portfolio with equity released on each property! This is a specialist area and something that is not always available and therefore it is best discussed with an advisor.

As a part of a separation agreement

It is not uncommon for partners to separate and many couples wish to make the transition as easy as possible. We appreciate that any breakdown of a relationship can be a very hard time and often a jointly owned property is sold as part of the separation agreement.

We recognise that there are situations in which one person wishes to keep the main family home, possibly because of children still living with them or because they do not wish to search for another property. Whatever the reason, it may be hard to find the funds needed to keep the home and “buy out” the other party. In such situations it may be possible to release equity from the property using an equity release plan to allow transfer of funds.

To speak to one of our advisors regarding using equity release to fund a second home simply call 0207 158 0881. You can also get an indication of how much money you may be able to release using our free equity release calculator.

For your benefit and protection we are fully regulated by the Financial Conduct Authority.