What is Equity Release?

The value of your home, less any mortgage is known as 'equity'. 'Equity Release Mortgages' is the name given to a range of financial products that convert a proportion of that equity into cash for your own use.

Equity Release Mortgages usually have the following common factors:

• Equity release mortgages have a minimum age of 55
• You receive a guaranteed tax-free cash sum or income for life
• You continue to live in your home for as long as you wish
• You have the freedom to move to a suitable property should you wish to do so in the future and transfer your equity release plan to your new home (subject to approval by the lender)
• Your estate will not be liable for any debt beyond the property value regardless of future house prices

Today, equity release has evolved into a financial tool for many in retirement. However equity release mortgages are not suitable for everyone. Careful consideration should be given to the alternatives to equity release first. In addition, the value of your estate and therefore any inheritance you leave will be reduced, and people who claim State Benefits can have their entitlement affected by taking out a mortgage of this kind. Taking advice from a specialist equity release adviser will ensure you make the right decision over whether to proceed or not.

We offer a full advice and recommendation service for which we will charge a fee. However, we offer a free, no obligation initial consultation so that you can find out how much cash you could release and whether a plan would be suitable for you. The fee is only payable when you receive your cash and is typically £750. Alternatively, as we are independent, you can choose to pay a fee, typically 1% of the amount released (i.e. £1,250 if releasing £50,000) and we will pass on any commission we receive from the lender.

Why check out our equity release calculator and find out how much cash you could release from your home.