Equity Release

Equity release is a financial solution that helps homeowners over the age of 55 access some of their equity without moving; however, they can also be used to assist with a new property purchase. There are two main types of loans available: home reversion plans and lifetime mortgages, both of which offer a tax-free lump sum or regular income while retaining home ownership.

Why Consider Equity Release?

Equity release loans are a flexible and convenient way for borrowers nearing or already retired to access some of their equity, enabling them to make major purchases, move home, or supplement their retirement income. Our equity release specialists ensure that you make informed decisions that meet your long-term financial health and lifestyle requirements.

Tap into Your Home's Equity: Understanding Equity Release

Equity release can be beneficial for a variety of reasons:

Access To Cash

It allows homeowners to unlock some of the cash value of their property, providing financial freedom in retirement.

Financial Flexibility

The funds can be used for any purpose, such as home improvements, purchasing a new car, supplementing your monthly retirement income, or raising funds to gift to family members.

No Monthly Payment

For most plans, there are no monthly repayments; the loan, plus interest, is repaid when your property is eventually sold.

Stay In Your Home

Equity release allows you to continue living in your home while accessing some of its value.

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Frequently Asked Questions

Financial Freedom in Retirement: Benefits of Equity Release

Yes, but you will need enough money from the equity release facility to repay your current mortgage.

It’s possible to repay the loan early, but there may be early repayment penalties.

For a lifetime mortgage, you (or the youngest homeowner if you are joint applicants) must be at least 55, or 60 for a home reversion plan.

Different lenders allow you to release different amounts of equity. The value of your home and your age determine how much equity you can release; the older you are, the more equity you can release.

It is possible to move house when you have an equity release loan. You should be able to transfer your equity release debt to your new home if the loan value ratio stays within your lender’s limits, otherwise, a partial down payment may be required.

Ready to take the next step?

Our team of experts is ready to guide you through the entire mortgage process. If you have any questions about our services or would like to make an enquiry, please get in touch with us today for a no-obligation chat.