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Equity Release

If you’re thinking about retirement or have been retired for a while now you may be wondering how you can generate additional funds. If you are a homeowner you may have been considering an equity release plan to unlock some of the equity tied up in your home without having to move.

Nationwide does not currently offer any over 55 equity release plans however there are many lenders who do. We offer a service which can put you in touch with an equity release specialist who will offer you friendly and helpful advice and can give you no obligation equity release quotes. 

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What is an Equity Release Scheme?

There are two types of equity release scheme

Lifetime mortgages

A lifetime mortgage is a loan secured on your home for a percentage of its value. You remain the homeowner but the loan and any interest that accumulates on it is repaid through the sale of your property when you die or move into a care home. How much exactly you can borrow depends on your age, or the age of the youngest applicant if you are applying for a joint lifetime mortgage. But you can typically get up to 56% of your home’s value.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Equity release may affect your entitlement to state benefits and will reduce the value of your estate. It may involve a lifetime mortgage or home reversion plan. All content set out in this website is provided for information only and should not be considered as advice. It is strongly recommended that you seek advice of a qualified, independent financial advisor before making any decisions to take out an equity release product.