Utilising funds released from the home to tackle the cost-of-living crisis for your or your loved ones

The cost-of-living crisis is not something that will have passed you by unnoticed. But for many of those in their retirement years, the phrase “eating or heating” is not a new one.

Many of us are seeking new ways to budget to afford the significant price hikes in energy bills, the rise in fuel costs and the increases on our food bills, but could releasing equity locked up in your home help you to tackle the upsurges?

If you’re over 55, own your own home and are seeking options to accommodate your changing financial demands, could equity release be a suitable fit?

Equity Release could allow you to reduce your monthly outgoings as many lenders do not require you to make monthly repayments (although you do have the option to in many cases)- the funds released could be used to pay off an outstanding mortgage thereby removing the need to make a monthly payment on that necessity, and you could also ensure you have disposable income to combat further financial demands.