Using equity release

Using equity release

Equity release is a financial product that helps you access some of the cash tied up in the value of your property to supplement your retirement needs. You can find out more about what equity release is by watching our video.

With the average house price now standing at more than £227,871*, many people are using the equity they have tied up in their home to help supplement their retirement needs.

* Source: Halifax House Price Index, March, 2018.

Things to think about when considering equity release:

Things to think about when considering equity release:

  1. You receive a tax-free cash lump sum and can arrange access to further amounts as and when required on some plans.
  2. You can use the cash for a number of purposes.
  3. You can stay in the home you love for the rest of your life – no need to downsize.
  4. You do not have to repay any of the cash borrowed until the property is sold, either on your death or if you move into long-term care.
  5. You can have the option to guarantee an inheritance for your family on some plans.
  6. You will continue to be responsible for the maintenance of your property.
  7. You have the right to move your equity release plan to another suitable property without any financial penalty.
  8. With some plans, if you decide to repay early, there may be substantial early repayment charges.
  9. It will reduce the value of your estate, or the inheritance you leave to your dependants.

Our equity release advice service

Our equity release advice service

Our equity release advice service can provide a simple 3 step process where one of our equity release specialists will discuss your circumstances, review your eligibility, and, if appropriate, arrange an appointment with one of our qualified equity release advisers. And, because releasing equity can affect your eligibility for means-tested state benefits, we carry out a full review to ensure you are not missing out on anything you are entitled to.  

See how much you could release using our calculator then read more about our equity release advice service or call 0800 0150993 to see how we could help. You can also watch a video all about our equity release advice service at the bottom of this page.

Our equity release advice service could help you decide if equity release is right for you. It comes with a no obligation guarantee - meaning the advice and arrangement fee of £1,100 is only payable if you decide to take out a recommended plan.

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