If you're a UK homeowner with a property worth £70,000 or more and you're aged 55 or over, equity release can be used to unlock some of the money you have tied up in your home.
The money you release from your home can be used for almost anything you want. You could pay for home improvements, book a once-in-a-lifetime trip, buy a new car, or help your children buy their first home. Gifting money may be subject to inheritance tax.
You won’t have to move out of your home or downsize, however it will reduce the value of your estate.
Whatever you need the money for, your home could be the answer.