Equity Release Explained

Equity release unlocks the value in your home and provides you with a tax free lump sum. You don’t need to move out of your home and you will still own it. With equity release you don’t have to make monthly payments, unless it is something you choose to do. It is usually repaid when the last borrower has to move into long term care or dies.

Lifetime mortgages are the most popular type of equity release product and are available to homeowners who are 55 or over and their property is worth more than £70,000. Lifetime mortgages can be used for a variety of purposes such as paying off an existing mortgage or debt, supporting loved ones when needed or financing retirement.

Lifetime mortgages have a ‘no negative equity’ guarantee. This means that when your property is sold, if there is not enough left in it to repay what is owed, your estate won't have to pay the extra. 

See how much you could release.