Things to consider
Our independent, specialist advisers search the whole market to find the right equity release plan for you. They’ll explain all the options available and that taking a plan reduces the value of your estate and may affect any means-tested benefits you’re eligible for.
The cash you release is tax-free. In the first half of 2018, our customers were able to unlock, on average, over £85,000 from their homes, to spend on whatever they want.
With a lifetime mortgage, the most popular form of equity release, you’ll still own your home. As with any kind of mortgage, it’s a loan secured against your home. You should always think carefully before securing a loan against your home.
Lifetime mortgages typically have no monthly repayments, as the loan plus roll up interest, is repaid when the plan comes to an end. Because equity release is a lifetime commitment, it is only expected to be repaid on death or entry into long-term care.
Our expert advisers will also help you to understand how the compound interest on a lifetime mortgage adds up, and how the amount you owe can grow quite quickly.
All the equity release plans our advisers recommend come with a no negative equity guarantee. This means you’ll never owe more than the value of your home and your debt will never be passed on to your family.
Equity release may affect your tax position.
You have to get specialist advice before releasing equity; it’s the only way to do it. The initial consultation is free with no obligation to proceed. If you decide to go ahead with an equity release plan our advice fee, usually 1.99% of the amount released, subject to a minimum of £1,499, is payable only on completion.
