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Home > Equity Release > The importance of including your family in your equity release journey

The importance of including your family in your equity release journey

Releasing equity from your home is a big decision. You don't have to, but you might like to involve your family in the decision-making process.

Equity release involves releasing some of the money that's tied up in your home, which could mean you're able give your family more money now and less when you die.

At OneFamily Advice, customers are encouraged to include family members in the conversations from the start. They can be a huge support when you're going through the assessment and application process.

Family members who are involved can understand not only how it works but also what equity release means for you and how it might affect their inheritance. You could even bring them along to meetings.

This can give your family piece of mind that you're getting the right advice for the right reasons, and not being sold something that isn't right for you.

They might also have questions that you haven't thought of and can help you make a decision by also finding out about equity release.

How equity release can affect inheritance

Equity release may mean your family receive less inheritance when you die.

The lifetime mortgage is repaid when your property is sold after you die or when you go into long-term care, so there will be less money for your family to inherit.

Involving them will help you explain why you want to opt for equity release and enjoy sharing your money with them while you’re alive – instead of leaving them an inheritance.

Bringing your family on board

To help bring your family on board, OneFamily Advice offers a video conferencing facility where any number of people can join the conversation.

Our advisers can talk you and your family through the benefits, potential risks, fees, and how equity release may affect your inheritance or tax circumstances – giving you extra peace of mind.

Equity release might not be for you. There are alternatives you might want to consider, that are better fit for your circumstances, which our advisers can discuss with you and your family.

You don't have involve your family in your equity release decision. It’s your property and your choice - but you do need to get independent, expert equity release advice and we’re here to help.

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OneFamily Advice

Find out more about using equity release to help your family in a free initial consultation where we can answer any questions you may have.

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Important: The loan amounts above are an illustration of the amount you could borrow. The actual amount may vary depending on your individual circumstances. The figures are not guaranteed and do not constitute an offer to lend. The loan amount will need to pay off any existing mortgage secured against the same property.

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