Equity Release Rules

Release Cash From Your Home

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Independent Service For Over 55s

Finding  the right equity release plan for your personal circumstances couldn’t be simpler

See below for a range of selected offers from leading UK equity release providers

Type
Fixed
Rate
3.32%
APR
3.48%
Minimum Age
55
Minimum Property Value
£100,000

Equity Release Plan: Classic Super Lite

Features: FREE Valuation

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Type
Fixed
Rate
3.32%
APR
3.50%
Minimum Age
55
Minimum Property Value
£100,000

Equity Release Plan: Flexi Choice Super Lite

Features: FREE Valuation

Call FREE on 0117 980 7743

Type
Fixed
Rate
3.35%
APR
3.50%
Minimum Age
55
Minimum Property Value
£100,000
Call FREE on 0117 980 7743
FREE VALUATION

Type
Fixed
Rate
3.40%
APR
3.50%
Minimum Age
55
Minimum Property Value
£100,000

Equity Release Plan: Premier Flexible Black

Features: Cashback & FREE Valuation

Call FREE on 0117 980 7743

Type
Fixed
Rate
3.49%
APR
3.60%
Minimum Age
55
Minimum Property Value
£100,000

Equity Release Plan: Flexible Pink

Features: Cashback & FREE Valuation

Call FREE on 0117 980 7743

Type
Fixed
Rate
3.75%
APR
3.90%
Minimum Age
55
Minimum Property Value
£75,000

Equity Release Plan: Lifestyle Flexible

Features: Cashback & FREE Valuation

Call FREE on 0117 980 7743

Type
Fixed
Rate
3.93%
APR
4.10%
Minimum Age
60
Minimum Property Value
£100,000

Equity Release Plan: Flexible Lifetime

Features: FREE Valuation

Call FREE on 0117 980 7743

Type
Fixed
Rate
3.99%
APR
4.20%
Minimum Age
55
Minimum Property Value
£70,000

Equity Release Plan: Capital Select Lite Flexi

Features: FREE Valuation

Call FREE on 0117 980 7743

Type
Fixed
Rate
4.22%
APR
4.40%
Minimum Age
55
Minimum Property Value
£70,000

Equity Release Plan: Select Lite Flexi

Features: FREE Valuation

Call FREE on 0117 980 7743

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Equity Release Rules

The rules for equity release policies tend to be quite strict, as these agreements are generally aimed at a very specific customer base.

The specific conditions and rules that must be adhered to may vary a great deal depending on the provider, and it is therefore important to carefully consider the pros and cons of a particular deal before committing to it.

In terms of eligibility, there are several rules and conditions that customers may need to adhere to before accepting an equity release deal.

Equity Release Rules
  • Depending on the provider, the customer may be expected to be retired and over a certain age in order to qualify. (50, 55, 60 etc)
  • Although it may seem obvious, the customer must be a home owner
  • The property will generally be expected to be in a reasonable state in terms of its maintenance requirements and upkeep etc, customers with a property that has fallen into disrepair may find it very difficult to find an equity release policy
  • Many insurers will require the property to be covered by an appropriate buildings insurance policy

Depending on the provider, the customer may be expected to be retired and over a certain age in order to qualify. (50, 55, 60 etc)

When searching for an appropriate policy and comparing different equity release quotes, customers should also consider exactly what type of agreement will be best suited to their requirements.An equity release will generally be suited to an older customer who may perhaps be the owner of a property outright, but without a sufficient source of income to last them through their retirement. These agreements allow the customer to essentially take out a loan on their home, or sell a portion of the property, all while being allowed to remain their for as long as they wish.Using a home reversion plan, the customer may sell a share of their property to the provider in exchange for either a cash lump sum, or a regular source of income. Lifetime mortgages are slightly different and instead, they allow the customer to taker out a secured loan on their home.

Equity release is available to UK homeowners aged between 55 and 95 and allows you to release capital from your home. The money released can be used for any purpose, and can be taken as a tax free lump sum or in smaller amounts if preferred.

Key features include:

  • Available to homeowners aged 55 to 95
  • Release capital tax free from your home
  • You choose how to spend the money
  • Lump sum & drawdown options
  • You cannot release equity without taking advice

You can release equity from your home with either a lifetime mortgage or a home reversion scheme. The most popular type of equity release is a lifetime mortgage, where a loan is secured against your home & you retain full ownership of your home.

Key features include:
  • The amount you can release will depend on your age
  • The minimum age you can be is aged 55 with 95 as an upper limit
  • The minimum property value on which an equity release plan can be secured on is £70,000
  • The older you are and the higher the value of your property the more equity you can release

When capital is release by the plan provider, instead of making monthly interest repayments, interest is usually added to the loan. this is known as compound interest. At the end of the plan (usually when either of you pass away or move into long term care) your house will be sold & the equity release plan provider will be paid back from the house sale proceeds with the balance paid to your estate.

For advice on your options complete our enquiry form or:

Call us on 0117 980 7743 

There are different types of equity release plan and can be summarised as follows:

Lump sum lifetime mortgage
  • Provides a tax free lump sum secured against your home giving you access to a pot of cash.
  • Funds released can be used for almost any purpose
  • You retain full ownership of your home
  • Interest rolls up and is added to the loan. Typically repaid when you pass away or move into long term care
  • Some plans allow you to guarantee  a percentage of the future value of your home for your loved ones’ inheritance. Other options include the option to pay monthly interest
  • You need to take advice before you can take a lifetime mortgage out
Drawdown lifetime mortgage
  • Lets you drawdown cash in stages after an initial lump sum
  • You will only pay interest on the funds drawn down
  • These plans are more flexible so you do not miss out on means tested benefits
  • Drawn down funds can be used for any purpose e.g. home improvements, pay for university fees
Home reversion plan
  • Need to be aged 65+ to qualify
  • Involves selling all or part of your home for a tax free cash lump sum
  • The money you receive can be used for any purpose
  • Your share of the property will benefit from house price increases
  • When you pass away or sell your home, the home reversion provider takes its percentage from the sale proceeds.

For advice on your options complete our enquiry form or:

Call us on 0117 980 7743 

A lifetime mortgage is a loan secured against your house that allow you to release some of the equity you have built up.

Also known as equity release mortgages, like retirement interest only (RIO) mortgages they are only available to over-55s, and the loan is fully paid off when the last person living in the property dies, sells the home or goes into care.

The main difference is that RIO mortgages require borrowers to pass affordability checks and commit to making regular payments for life. With an equity release plan there are no such checks required.

For advice on your options complete our enquiry form or:

Call us on 0117 980 7743 

There are a number of variables that can determine how much you may be able release from your home.

The key thing are your age and the value of your property.

The table below provides an approximate indication of how much equity you can expect to release from your home depending upon how old you are from a lifetime mortgage (Home Reversion Plans may offer a higher amount):

 

AGE    % OF EQUITY RELEASE
5525
5626
5727
5828
5929
6032
6133
6234
6335
6436
6537
6638
6739
6840
6941
7042
7143
7244
AGE    % OF EQUITY RELEASE
7345
7446
7548
7649
7750
7851
7951
8052
8152
8253
8353
8454
8554
8654
8754
8854
9054

Lifestyle factors can also come into play, so if you are a smoker or are overweight the amount you can release may be increased. For more information please call us on 0117 980 7743 

FREE & no obligation – Equity release service

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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.

Equity Release

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Equity Release Service

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE