For many people, retirement is a time to relax and enjoy life. For others, it’s a time when they can finally take that trip around the world or travel as much as they want without having to worry about work. But what if you are retired and still need money for living expenses? You might be considering an equity release loan from your home but not sure how to get started.
If you are interested in taking advantage of the COVID and traveling, but don’t want to sell your home or other assets, then this post by FundWeb is for you. Learn about equity release strategies that allow you to fund your travels during the COVID with minimal impact on future finances.
How to Fund Your Travel During COVID Times with Equity Release
A recent study found that one of the top reasons people use equity release to travel is because they are retired and need a break from their regular routine. Retirement often means living in isolation, so it’s time for you to do something different with your life. One popular option is using equity release during COVID times as an excuse to explore new destinations while seeing old friends along the way.
If you want to fund your dream of travelling the world but don’t have a lot of financial resources, then it may be time for an equity release. Equity releases are loans secured against your home that can help raise funds to travel and enjoy.
This financial option allows someone who owns property and has an income that enables you to repay monthly instalments over time, access some money by borrowing against your home’s value. Equity release also provides peace of mind knowing one won’t have any outstanding debt on top of mortgages when you move into retirement homes later in life.
Why Fund Your Travel During COVID Times with Equity Release?
More and more people are looking for ways to make their retirement funds last. You know the COVID virus is coming and you’re a bit worried about how you will survive. It’s time to take out equity release to fund your travel during COVID times.
So, if you want to travel during that time, then it might be a good idea to look into equity release as an option. Here’s why you should consider it as a possible strategy for funding your retirement travels:
01. Financial Freedom
To travel during COVID times is a good way for people who have equity release. You can do whatever you wish with your money because you have the freedom to spend the way you want it to.
Using equity release to travel during COVID times can be a great way for retirees and other people with low-income levels to enjoy themselves in retirement. The reason being is that it’s tax-free, so t you’ll get the full amount.
03. No-Negative Equity Guarantee
Availing equity release from the members of Equity Release Council guarantees no-negative equity will make your travelling during COVID times easy and stress-free.
As COVID times approach, many people are worried about how they will fund their travels. Equity release is a great option for those who are interested in exploring the world while they’re still able to enjoy it. It’s important to know your options when it comes down to funding the lifestyle you’ve always wanted.
You might want to speak with your accountant or financial planner about financing options that will work best for you and what equity release entails more specifically before making any final decisions.