Equity release plan in United Kingdom permits the old home owners to free a little amount or total amount of money attached to their home or property. While opting or this Equity release UK plan in the states of United Kingdom, the aged homeowners are allowed to stay in their home without paying any rent. There are various Equity release schemes and plans that are executed in United Kingdom but specifically there are two policies of Equity release in United Kingdom which are widely accepted by the citizens of the country United Kingdom. The two main equity released arrangements are home revision plan and life mortgage plan which is also known as rolled up mortgage plan. The home revision plans have more benefit than the life mortgage plan or rolled up mortgage plan. This article focuses on the home revision plan.

This is a money transaction plan in which the retired home owners can sell a part or whole of their property to the concerns which involve themselves in the business of Equity release schemes in United Kingdom. The person to whom you sell your property or part of it has to consent you with the permission that you can stay in the house as long as you live or as long as you wish to stay. The home buyer via Equity release UK can not put on any kind of restrictions or interference with the aged ex home owners. The amount of cash that you receive after Equity release in United Kingdom is tax free and there is no interest payable at any time after or before releasing equity in the states of United Kingdom. The Equity release in United Kingdom is a legal process so you should seek the help of a legal adviser to know the pro’s and con’s of Equity release UK.