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Follow on Google News | Release Cash from your Property and Stay in Your Home: Guaranteed says Bower Retirement ServicesA recent warning from housing and homelessness charity Shelter urges homeowners facing financial difficulties and struggling to fight off repossession to beware of sale and rent back schemes.
By: Geoff Charles Despite the fact that these schemes became regulated by the Financial Services Authority (FSA) from 1 July 2009 after pressure from Shelter and the Citizen’s Advice Bureau, the charity says there are still unregulated firms out there offering the deals illegally, and that they are exploiting vulnerable homeowners. Sale-and-rent- Thankfully for the over 55s, there is another option. This one is safe, regulated, and providing a Safe Home Income Plans recommended scheme is used, will guarantee you stay in your home for the length of the scheme and will never owe more than the value of the property (‘no-negative equity guarantee’). SHIP endorsed plans also guarantee no debt is left to your estate. Bower Retirement Services (http://www.brsequity.co.uk) specialises in providing independent financial advice and their specialist expertise lies in the equity release field. Managing Director Geoff Charles says that by releasing the equity tied up in their property, homeowners can benefit from a financial boost without fear of losing the property or being evicted, and better still, they’ll be free from monthly repayments. “Equity release can also be used to consolidate debts or pay off an existing mortgage,” says Geoff. “A Lifetime Mortgage allows you to release cash locked into your property so that you can use it to pay off a mortgage and/or debt and be free from monthly repayments, whilst staying in and retaining full ownership of your home.” # # # Bower Retirement Services is an FSA regulated independent financial advice company that offers specialist advice on equity release throughout the south of England. For more information visit http://www.brsequity.co.uk End
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