Robert Bull is the CEO of RoyaleLife, a bungalow provider for those over 45 years of age. For those looking forward to retiring, bungalows have proven to be ideal houses to live in. Therefore, his target clients have attained the age of 45 and above and are looking forward to living their pension.
However, during this time, a homeowner can be caught in a situation of a financial crisis. One of the options that these people opt for is equity release. With equity release, these homeowners would use their houses to gain cash that they would use to cater to their personal needs.
The homeowner must have attained the age of 55 to be granted an equity release. Repayment for the equity release would require the homeowner to pay interest. Robert Bull confirms that this idea is not advantageous to the homeowners at all. They can end up losing the house and provide alternative options.
With equity release, one would be required to pay additional fees like the interests that amount. Also, one would be required to pay an arrangement fee and a professional advisor. Not forgetting, the equity release can eat up the house’s value that when the homeowner passes away, there would be nothing to be inherited.
Besides, the beneficiaries would be in an emotional moment, and the stress of paying pack the equity release would be the last thing a homeowner would want for them. These many disadvantages have made Robert Bull devise an alternative solution that would favor his clients.
Robert Bull proposed RoyaleLife bungalows. Here, a homeowner is guaranteed 100% value of their house. A homeowner would be required to give his/her house in exchange for a RoyaleLife bungalow. With the home’s worth being more than the bungalow, the homeowner will be given the balance in cash. The cash can be used to settle any financial problem that may make them opt for equity release. Refer to this page for additional information