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When it comes to spending the tax-free cash you’ve unlocked from your home, it can be spent in a wide variety of ways. It could be for supporting someone close to you, taking a trip of a lifetime, paying off existing debts, or as already mentioned, some long-awaited or much-wanted home improvements. The choice is always yours.
Another type of equity release plan is a home reversion. This involves selling all or part of your property to a reversion company for less than market value. So, if home ownership is important to you, then make sure you discuss it with your Key Equity Release adviser.
No matter which type of equity release plan you choose, as long as it’s one that meets the Equity Release Council standards, you’ll be guaranteed the right to stay in your home until the plan comes to an end. This is usually when you, or the last remaining applicant either passes away or enters long-term care.
All of our plans meet the Equity Release Council standards and come with the guarantee you can remain in your home. If you are considering equity release we recommend that you read through is it right for me?