Do I qualify for equity release?

To qualify for equity release, you must be age 55 and over. The property you take equity release on must be valued at over £70,000, and you must clear any mortgages when the equity release starts. You can use the funds from equity release to repay any mortgage.

Access to equity release doesn’t depend on your income or your credit history. You don’t have to make any payments towards an equity release while living in your home depending on your chosen plan.

There are some other more specific considerations, including your property type and construction which are taken into consideration.