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What is Equity Release and how does it work?
Equity Release lets you unlock tax-free cash tied up in your property, giving you the financial freedom to make the most of your hard-earned home. The most popular option is a Lifetime Mortgage, available to homeowners aged 55 and over.
With a wide variety of plans to choose from, Equity Release allows you to access a portion of the value – or equity – that has built up in your home over the years. Curious about how much you could borrow? Try our quick and easy calculator to find out.
Unlike traditional residential mortgages, Equity Release comes with no mandatory monthly repayments (though you can make payments if you prefer). Your interest rate is fixed for life, and the plan is only repaid when you pass away or move into long-term care.
Release the Equity in your Home
Equity Release can benefit a wide range of homeowners, whether you’re planning to enhance your retirement, make improvements to your home, or provide financial support to loved ones. It’s a flexible solution to help you achieve what matters most.
What can I use Equity Release for?
The money you access through Equity Release is tax-free and can be used in a variety of ways, such as:
- Repaying your existing mortgage
- Supporting your loved ones financially
- Boosting your retirement income
- Making improvements to your home
Equity Release can help you enjoy the later life you’ve been dreaming of.
Start your Equity Release journey in 3 simple steps
Find out how much you could release
Use our free online calculator to quickly estimate how much tax-free cash might be available from your home.
Check if you’re eligible and explore your options
Connect with a trusted adviser to confirm if Equity Release is the right choice for you. If there’s a better alternative, they’ll guide you—completely free of pressure or obligation.
Unlock your tax-free cash
With expert support every step of the way, you can unlock funds to enhance your finances, make improvements to your home, or provide for your loved ones.
What are the advantages of Equity Release?
Equity Release is designed to meet a variety of needs, offering flexibility and peace of mind:
- Tax-Free Cash: Use it to enjoy retirement, make home improvements, or manage existing debts.
- No Monthly Repayments: Most plans require repayment only when your home is sold, or you enter long-term care or pass away.
- Retain Ownership of Your Home: With a lifetime mortgage, your home remains 100% yours.
- Flexible Options: Choose from lump sums, drawdowns, or interest-only plans to suit your circumstances.
- No Negative Equity Guarantee: Rest assured, you’ll never owe more than the value of your home.
- Protected Inheritance: Reserve part of your home’s value to pass on to your loved ones.
Equity Release is a practical solution to enhance your quality of life, giving you financial flexibility while letting you stay in the home you love.
What are some key considerations before releasing Equity from my home?
While Equity Release offers many benefits, it’s important to understand the implications:
- Advice Is Essential: Professional advice is required by law. Initial consultations are free and obligation-free.
- Impact on Inheritance: Releasing Equity may reduce the value of your estate.
- Repayment Requirements: Any existing mortgage must be paid off using the funds released.
Our advisers ensure that you receive tailored advice so that you can make an informed decision. If Equity Release isn’t right for you, we’ll help you explore alternatives.
Peace of Mind - The Equity Release Council Guarantee
Equity release is a big decision, and the Equity Release Council, which is regulated by the Financial Conduct Authority, ensures every customer is protected with industry-leading safeguards. Their guarantees ensure that all equity release plans meet the highest standards, providing you with security and peace of mind.
When you choose an Equity Release Council-approved provider, you’re guaranteed:
- A No-Negative Equity Guarantee: You’ll never owe more than your home’s value.
- The Right to Stay in Your Home: You can remain in your home for life.
- The Right to Sell or Move: Transfer your plan to a new property if needed.
- The Right to Make Penalty-Free Payments: Reduce your loan balance when it suits you.
- A Cap on Interest Rates: Protection against unpredictable costs.
Additionally, the Financial Conduct Authority, which regulates the sector, requires all customers to receive expert financial advice before taking out a lifetime mortgage or home reversion plan—ensuring you make an informed decision.
Frequently Asked Questions