EQUITY RELEASE IN PLAIN ENGLISH

With an equity release plan (sometimes referred to as a lifetime loan) over 60's Spanish home owners can now safely unlock a cash lump sum and/or monthly income from the equity in their home - without making any monthly repayments whatsoever.

The loan is secured against your property and the interest is calculated and added to the original loan either monthly or annual depending on the lender.

The loan plus interest is only repayable on the death of the last surviving partner or if they leave the property permanently or if you sell the property.  You retain full ownership and can stay in the property for as long as you wish.

The lender also provides a 'no negative equity' guarantee, so you will never leave a debt to your estate.

The amount you can borrow is determined on the value of your property and the youngest applicants age.

We can provide an illustration of how much you can borrow as well as the services of an English speaking solicitor, free of charge.