Equity Release
You can then borrow up to 80% of that value, secured against the vehicle to use elsewhere.
Equity release is an easy and flexible way of using assets you already own to free up funds for another use.
Having something paid for outright is a great feeling and offers financial security, but can often mean that you have a large amount of money tied up in an asset. Equity release enables you to free up some of that money, which you can use towards purchasing something else. It's an extremely flexible finance option as the money can be used to purchase anything you wish and is tax free.
As an example, you might have a classic or prestige car that the lender gives an underwritten value of £100,000. You can then borrow up to 80% of that value, secured against the vehicle to use elsewhere.
Some of the key benefits of equity release are:
- Retain ownership of the asset you release the equity in
- Fixed monthly payments over a fixed term
- Uses a current asset rather than a personal loan
Contact us to discuss equity release options in more detail.