PAYING OFF SECURED AND UNSECURED DEBT
Paying off Unsecured Debt
Some people find themselves in a situation that is overwhelming due to money that is owed from helping family members out, credit and store cards or just the costs of day to day living.
Paying off Secured Debt
In the same way, some people who have existing mortgages, sometimes do not want to continue paying them off on a monthly basis, possibly due to wanting to retire. Alternatively someone may have come to the end of the mortgage term and have no repayment vehicle in place.
According to a study completed by Prudential in January 2014, 44% of people retiring still have a mortgage, so if you are in this situation then you are not alone.
EQUITY RELEASE COULD BE RIGHT TO HELP TAKE AWAY THE BURDEN OF MAKING THESE MONTHLY PAYMENTS AND RELIEVING THE STRESS THAT THIS DEBT BRINGS.
THINK CAREFULLY BEFORE SECURING DEBTS AGAINST YOUR HOME.