Mortgages and equity release information

Equity release is commonly chosen by people who need to release cash quickly from their properties. The most common way to release equity from your property is to use a remortgage. This is an option normally exercised by residential property owners and property investors who have buy to let mortgages.

Although equity release has been around for many years it is still not a popular way of borrowing money. Having said that many more people have released capital from their properties in the recent times then compared to previously.
If you are considering releasing equity from your property then you need to check whether there is enough equity available in the property that can be released. In other words is a mortgage outstanding on the property relatively low when compared against the actual property value? If you have had a mortgage over many years and there is a good chance that you have sufficient equity available in your house. That's as long as you haven't remortgaged your property of the time you took out the mortgage and also the value of your property has not significantly decreased over the time of your mortgage.
The amount of capital that you can release with remortgage depends purely on the amount of equity in your home. In an ideal situation you have a zero mortgage outstanding on your property.

So if you need to get started with a remortgage then the best place to start is with a reputable mortgage brokerage firm. Talk to family and friends to see if they have had any experience of using a good mortgage broker and use one through a referral in this manner.