If you want to boost your retirement income, you could think about using your home to generate some extra cash. It's likely to be the most valuable thing you own, so it may make sense to make the most of the equity locked up in your property.
You don't have to move to access the cash tied up in your home; you could think about a lifetime mortgage, which is an equity release product. It isn't suitable for everyone, so you must speak to a financial adviser to get the complete picture. An adviser will be able to look at your situation and tell you whether a lifetime mortgage could work for you.
Graham and Pam Guest of Sheffield released equity from their home. Watch them talk about their story and what a difference taking a lifetime mortgage has made to their lives.
Please bear in mind that releasing equity from your home is a long term commitment and will reduce the amount of inheritance you leave. It may also affect your eligibility for welfare benefits and your tax position.
This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.
If you're considering a lifetime mortgage, we strongly recommend that you talk to a financial adviser before you do anything. If you don't have an adviser, you can visit www.unbiased.co.uk or call us on 0800 092 5852. We can only advise on our own products.
You can use our equity release eligibility calculator to get an idea of whether you're eligible for a lifetime mortgage. However, we strongly recommend that you talk to a professional financial adviser for a true view of whether a lifetime mortgage is suitable for you in your circumstances.
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WC04048 02/2012
For more information on equity release please call:
0800 092 5852
Or, arrange for one of our advisers to call you back at a convenient time.
For our joint protection, telephone calls may be recorded and/or monitored. We can only advise on our own products.
Aviva offers solutions to many retirement needs. We've got a number of calculators to help you get your finances under control.
Register for our new online service where you can securely access details of your existing policy.
For more information on how much the government will give you, visit the pensions and retirement planning section at: www.direct.gov.uk
For help tracing your pensions, visit: Pension Tracing Service
To find a financial adviser, visit: www.unbiased.co.uk