Equity Release

Equity Release for Homeowners aged 55 and older

Looking to raise tax free cash without moving home?

Equity release mortgages allow you to unlock the value in your property and use the cash as you wish without having to move out of your home. 

Releasing equity from your home provides a valuable option for people in retirement who are looking to pay off debt or to provide an extra income stream. As with all financial planning it needs to be considered alongside other financial options which is why getting advice is very important.

We work with independent equity release specialists who provide:

• FREE initial consultation for UK Homeowners aged 55 plus
• Full assessment of your circumstances on whether Equity Release is right for you.
• Specialist advice for homeowners on equity release scheme options.
• High level of personal service.

There are 2 types of equity release plan; lifetime mortgages and home reversion schemes:

Lifetime Mortgages

• You take out a loan secured on your home
• You continue to own your home
• You repay the mortgage form the sale of your home – when you die or move into a care home

With a lifetime mortgage the amount that can be borrowed depends on your age (or the age of the youngest applicant, if there are two of you) and the value of your property, up to a maximum of 56% of the property's value. The table below gives an indication of the amount some equity release providers may be prepared to lend. 

Home Reversion Schemes

• You sell all or part of your home to a reversion company or individual
• You no longer own your home but continue to live there as a tenant and may have to pay a small amount of rent
• The reversion company or individual sells your home when you die or move into a care home

With equity release schemes, you usually get the money as a  lump sum which you can then use as you wish, or some allow you take the cash as a regular 'income'.

For more about equity release mortgage plans, our service can help - Click here for Quotes and Advice