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Adult Social Care Glossary, v 0.41

Equity release

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Plain English definition
Think Local Act Personal (TLAP) Jargon Buster

A financial plan offered by private lenders if you own your own home. It allows you to release some money from the value of your home to pay for care and support, or for other things. This is then paid back to the lender after your death or when you move permanently into a care home. You should always get independent expert advice before taking out a plan like this.

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