Yes is the answer from senior citizens and the persons approaching retirement age when they are asked if they would like to have a financially secure retirement. The survey conducted among the citizens in the UK shows the similar result. When they are in shadow of retirement, they are set on a haunt for secure retirement solutions. It sets the level of demand for equity release UK schemes high.

Equity release UK schemes are intended to meet the financial requirements that are likely to emerge in retirement for many. These schemes include home reversion plans and lifetime mortgages. Among the basic eligibility criteria for almost all these equity release schemes, the minimum age requirement for equity release seekers is 55. Among lifetime mortgage schemes, the roll-up lifetime mortgage plan is on a roll as a preference of many a people.

Only homeowners can benefit from lifetime mortgage plans. A lifetime mortgage scheme helps them dig into the equity resource of their residential properties. They can unlock equity from their properties as secured loans. Under this type of equity release UK, the repayment is done on sale of the property after the owner's death. They can continue to live under the same roof for the remaining years of life.