Eligibility for Equity Schemes
There are several benefits of equity release schemes and people are taking advantages of these schemes. There are few eligibility criteria which must be considered by the companies offering equity release schemes.
• For getting the benefits, you must be of 55 years of age as mentioned by some of the companies; however, some companies do offer it the people of over 60 years of age. For married people, the spouse must meet the minimum age requirements.
• The house which you are going to consider for equity release must have little or no mortgage and is on your name.
• You must be resident of England, Scotland or Wales.
