Definitions for "Equity release"
A scheme by which older homeowners seek to unlock part of the value of their property. They use the capital to boost their income by taking a special interest-only loan against the value of the house. Anybody considering this type of loan, must pay particular attention to the small print so they do not receive any nasty surprises later. Professional advice is recommended.
The process of releasing equity from a property often through taking out a mortgage on a property that is unencumbered.
in loan terms is simply releasing the equity that has appreciated in your home. Allows you to take out a loan secured against your property.
The taking of a new, larger mortgage or increasing an existing mortgage, for home improvements, holidays etc.
Taking out a larger mortgage or increasing an existing mortgage to make extra funds available.
when a new or larger mortgage is taken out to free some of the equity that has built up in your property.
Keywords:  redeem, die, drawn, refinance, exceeds
A refinance transaction in which the amount of money received from the new loan exceeds the total of the money needed to repay the existing first mortgage, closing costs and the amount required to redeem other mortgages against the property. In short, a refinance transaction in which the borrower receives additional cash that can be used for any acceptable purpose.
Where money is drawn down against a property. The money is not paid back until you die.
Negative equity Unitised W/profits endowment
Escrow account Essential repairs
Keywords:  description, required
DESCRIPTION REQUIRED
Keywords:  built, free, secured, loan, property
A loan to free some of the equity that has built up in a property. Loan secured on the property.
Creating finance from a properties value.