If you have taken early ill heath retirement it may be that you are not as financially comfortable as you would have been if you had worked until retirement age. You may therefore wish to release a larger portion of the equity within your home so that you can use the equity to increase your lifestyle or pay off other loans to therefore lower your financial commitments.

Retirement is a time for financial freedom and equity release may be the best option to achieve this freedom in your circumstances. It may also be possible to access your pension at a younger age and this option should also be fully researched as it may take off some of the immediate strain.

Some equity release providers understand the needs of a retiree with health issues may be different to those in full health and therefore offer larger lump sums to be paid out. Specific lifetime mortgages are also offered for people with ill health.

Regardless of your reasons for wanting a lump sum payment out of your house it is still important to thoroughly research all available options and also obtain a financial forecast for your equity release scheme.

Do not allow yourself to be pressurised into making a poor decision by immediate financial concerns of ill-health. Seek independent financial advice to ensure that you have chosen the best equity release scheme and not just the one that seems most appealing in the here and now.