What is equity release?

Equity release is a way of using the value of your home to provide a lump sum or income, but with you still living in it.

Why is there such a lot about Equity Release these days?

If you have lived in your home for many years since you bought it, it is probably worth a great deal more than you paid for it. Indeed, if it were not for the fact that they want to carry on living in their home, many people would now feel pretty rich compared with most times in their lives.

The difficulty for many people in (or approaching) retirement is that, while they are theoretically well-off when they look at how much their home is worth, they do not have enough cash to pay for many of the things they want. This can be home improvements or repairs, medical expenses, gifts or other help for children or grandchildren, or simply monthly cash for living.

There are two types of equity release: a lifetime mortgage or a home reversion. Both can provide that lump sum or income, but they work in different ways. Whether either would be suitable for you is dependent on your age, circumstances and wishes - all of which are taken into account when advising you.

We have tried to make a lot of important information available to you on this web site, please do read through it all, especially the Pros and Cons and the FAQs, as it will help you understand equity release better before you go any further.

This advert refers to home reversion plans and lifetime mortgages. To understand the features and risks, ask for a personalised illustration.

You can choose how we are paid for mortgages: by commission (paid by the lender) and a fee of £350; or by a fee only, typically £800.