Can I Leave An Inheritance? Leaving an inheritance for children and loved ones is very important to many homeowners. This can always be achieved when realising equity from your home, with many of our plans having guarantees allowing you to leave an inheritance.
It is a common myth that releasing equity will leave your children with no inheritance but as long as you select a suitable plan, this is never the case. With a protected lifetime mortgage, you can even ring-fence a portion of your property to be left for inheritance.
What Is Inheritance Protection? Inheritance protection guarantees allow all homeowners to protect a percentage of the home�s future value when choosing an equity plan. When you choose to sell your property, this percentage will be protected and passed onto beneficiaries, no matter how much money is remaining on the outstanding loan.
For example, if you were looking to release �80,000, you could choose to keep �40,000, leaving 50% of the future property�s value protected for inheritance. This is a great option, however, if you choose to release additional equity in the future, it could reduce the amount of guaranteed inheritance.
We have several lifetime mortgages plans that offer inheritance protection. You will always be advised on these plans to ensure you can leave as much inheritance as possible.
Living Inheritance Living inheritance differs to inheritance protection as this allows you to release equity and give away inheritance before the property is sold. This means you can actually enjoy the inheritance with your children or grandkids, instead of waiting until you are in long-term care or you have passed away.
Contact Us For more information about leaving an inheritance, speak to Essex Equity Release today. If leaving an inheritance is important to you, our team can always find a suitable plan for your needs. Call us today on 01268 799211 or fill in our contact form for a fast response.
