Release money against the value of your home
Equity Release
Equity Release can enhance retirement and allow life to be enjoyed to the full. You can access money to help with anything you like such as home improvements, protecting an inheritance for your family, travelling the world, or simply making the most of your retirement.
If you want to live a happy life, tie it to a goal, not to people or things
What is Equity Release?
This is a way of unlocking any value in your property and turning it into tax-free cash. There are a number of policies available to allow either a lump sum, or several smaller payments or both. There are two main options when it comes to Equity Release.
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- Lifetime Mortgage. This is where you borrow money against your home which is paid back either upon your death, or you move permanently into residential care
- Home Reversion. You sell all or part of your home, but continue to live there until you die or should you move into permanent residential care.
How much you can release will depend on your age and the value of your property. You can take out policies from the age of 55 onwards. Get the right advice to make sure you fully understand all the advantages as well as the disadvantages.
Considerations for equity release
Will all the money be needed straight away?
Will there be any impact on state benefits?
What about if you wish to move in the future?
How much can I borrow?
What are the costs?