Robert Bull is a businessman in the U.K. He is the CEO of RoyaleLife, a development company. Robert Bull, also known as Bob, has been the developer of new properties in some of the most desirable areas in the country. The new projects in Hampshire, Dorset and Kent are bigly sought after especially by his clientele in the over 45 to 55 and up age range. RoyaleLife builds luxury bungalows, and it is the leader in its class.
Here is how Robert Bull explains equity release and when it should be used. Equity release is a strategy that is used by people aged 55+. It offers a few options for them to access their own money from the equity in their existing home. When they reach a certain age in the UK, people are allowed to take the available cash out of their residence.
There are three common ways that the homeowner can set up the equity release agreement. They can get payments in equal implements. They can opt for one lump sum. They can also set up payments using a combination of both payout methods. Robert Bull encourages people to review their own situation and not to take it out too early if they do not need it.
There are good reasons to opt for equity release. It frees up the equity without having to sell the property. The owner can then stay in their home. Funds taken out incrementally can provide a steady and reliable source of income. For some people, it is a good way to pay off their debt. For others, they like using the extra money to buy a vacation home, travel and enjoy themselves.
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