What is meant by equity release?
As with any financial service, product or otherwise, there is always jargon. However, in the case of equity release, I think the jargon is actually quite understandable and pretty easy to gather what is really meant by the term equity release. So, what does it mean? Well, equity release is an umbrella term that covers many type of mortgage product that has lots to do with releasing the monetary value that is tied up in your home. Say you have a gold bar that is worth £1000, you couldn’t use it to buy stuff because it is worth too much, so you need to release the equity in that bar before it is useful to you, otherwise you just have a piece of metal.