Equity release is a financial product designed for homeowners aged 55 and over, allowing you to unlock the value tied up in your property without having to sell your home. This can provide you with a lump sum or a regular income to help you enjoy your retirement years with greater financial freedom.

There are two main types of equity release products:

1. Lifetime Mortgages: This is the most common form of equity release. You take out a loan secured against your home, which is repaid when the last borrower dies or moves into long-term care. You retain ownership of your home and can choose to make repayments or let the interest roll up.

2. Home Reversion Plans: With this option, you sell part or all of your home to a reversion company in exchange for a lump sum or regular payments. You have the right to live in the property rent-free until you pass away or move into long-term care, but you will no longer own the entire property.

Types of Equity Release

Equity release can be used for a variety of purposes, helping you to make the most of your retirement:

• Home Improvements: Enhance your living space or make necessary adaptations to stay comfortable in your home.

• Debt Consolidation: Pay off existing debts to reduce your monthly outgoings and improve your financial stability.

• Supplementing Retirement Income: Boost your pension or savings to maintain your lifestyle and cover everyday expenses.

• Helping Family: Provide financial support to your children or grandchildren, such as helping them get onto the property ladder.

• Dream Holidays: Fulfill your travel aspirations and explore new destinations without financial worry.

• Healthcare Costs: Cover medical expenses or fund long-term care needs to ensure you receive the best possible care.

Uses of Equity Release

Equity release is a significant financial decision and may not be suitable for everyone. It’s important to consider the potential impact on your estate and any inheritance you wish to leave. Consulting with a specialist adviser can help you understand the benefits and drawbacks, ensuring you make an informed choice that aligns with your financial goals.

Is Equity Release Right for You?

As a fully FCA-authorised mortgage adviser, we provide expert guidance and access to the best equity release products on the market. Our personalised service ensures you find the right solution for your needs, giving you peace of mind and financial security in your later years.

Why Choose Us?

Equity release may involve a lifetime mortgage which is secured against your property or a home reversion plan which requires the sale of property for a discounted price. To understand the features and risks, ask for a personalised illustration. You only continue to own your own home with a lifetime mortgage.

Equity release may impact the size of your estate and it could affect your entitlement to current and future means-tested benefits.