Equity Release

Release Cash From Your Home

Call us on 0117 980 7743 

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

Is equity release a good idea?

If you’re a homeowner aged 55 or over who wants to raise some capital you might have been wondering whether equity release is a good idea.

Equity release allows you to access some of your property’s value without having to downsize or relocate. However equity release is not the right option for everyone and it will decrease how much you can leave to your beneficiaries.

What equity release schemes are there?

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

Lifetime mortgages

A lifetime mortgage works by taking out a loan secured on your home. Instead of making monthly repayments on the loan like a normal mortgage it is repaid through the sale of your property when you either die or permanently move into a residential care home. You remain the homeowner until the end of your contract with this type of equity release.

There are three key types of lifetime mortgage:

  1. Roll-Up mortgage – With this plan there are no monthly or annual repayments, instead the original amount borrowed and its accumulated interest are repaid through the sale of your home. As interest is usually compounded on this type of plan the amount of interest owed can increase rapidly. However if the plan has a ‘No negative equity guarantee’ this means that you or your estate will never be charged more than the amount the property eventually sells for even if that’s less than the amount owed.
  2. Interest only mortgage – This type of plan gives you the flexibility to pay off the interest on your loan but the original amount borrowed is still paid off through the sale of your home.
  3. Fixed repayment – Fixed repayment plans incur no interest; instead at time of set up you agree with the lender on an amount you will repay that is higher than the sum you borrow. This amount is still repaid through the sale of your home.

Home Reversion

The other option for equity release is a home reversion scheme, in these plans you sell your home, or a portion of it, to a reversion company or individual for less than its actual market value. They in return will give you a lump-sum payment or a regular ‘income’ and guarantee you the right to continue living in your home until you die or permanently move into care at which point they will sell the property.

Some plans require you to make monthly rental payments, although at a reduced rate to what a normal tenant would pay, others will let you continue to live there for free.

You need to remember with a home reversion plan that you need to keep the property in good condition and that the reversion company may occasionally inspect the maintenance of the property.

Costs

When considering if equity release is right for you should consider some of the costs involved. Most providers of either type of equity release will charge some arrangement and administrative fees; this amount varies by lender and plan type but can be expensive, as well as a fee for the property valuation. Some lenders will waive these fees initially and instead deduct it from how much you want to borrow or take them into consideration when they calculate your interest rates. You will also need to pay legal fees to your solicitor.

Therefore it may not be wise to use equity release to borrow small amounts, as the fees could end up costing you more.

Alternatives

Equity release is a lifetime commitment and therefore you should evaluate all of your options before committing to find out if it is best for you.

Another way to access some of the money tied up in your home is to downsize or move to a more affordable area. You could also check if there are any benefits you are entitled to that could supplement your income.

Find out more

When you deciding if equity release is right for you or not, you should look at everything available as the terms and conditions of different equity release products can vary greatly from plan to plan. To find out more about the different types of equity release and if there is one right for you simply click on the link and fill in the quick form and an equity release specialist will get back to you with free, no obligation quotes and advice.

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
55 25
56 26
57 27
58 28
59 29
60 32
61 33
62 34
63 35
64 36
65 37
66 38
67 39
68 40
69 41
70 42
71 43
72 44
AGE     % OF EQUITY RELEASE
73 45
74 46
75 48
76 49
77 50
78 51
79 51
80 52
81 52
82 53
83 53
84 54
85 54
86 54
87 54
88 54
90 54

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

Equity Release Quotes >>

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

Unlock Cash In Your Home

Equity Release Service

  • Borrowing options from age 55 to 99
  • Independent advice on your mortgage options
  • Interest only options
  • Top UK lenders compared
  • One short form to complete

Call us on 0117 980 7743 

Equity Release Quotes Service »

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