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However, this usually imposes a larger monthly payment on the borrower. So on the one hand, yes you can remortgage and take out equity release.
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If you have a home reversion plan, the reversion provider will be repaid as per the percentage they own of the property.
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With equity release, you're essentially taking out a loan against the money you already put into buying your house.
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Once you have paid off your mortgage, you have 100% equity in your property ' in other words, you own it entirely.
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