Equity Release

What is Equity Release?

In a nutshell, Equity Release is a way for age 55 and over to unlock the value of your property and turn it into a cash lump sum. You can do this through a number of policies which let you access – or 'release' – the equity (cash) tied up in your home. You don’t need to have fully paid off your mortgage to apply.

Why Should I Consider Equity Release?

Equity Released can be used to fund

• Home improvements 

• To boost disposable income in retirement

• To gift to family (living inheritance)

• To fund a holiday of a lifetime

• For general lifestyle (home furnishings, car, etc)

• General financial security

Benefits

• Fixed rates for life

• Pay off existing mortgage

• No negative equity guarantee (you will never owe more than the house is worth)

• No worry of repossession

• No monthly payments

• Still retain ownership of the property

• Subject to valuation. Eligible to release more in the future

• Only payable back upon death of second partner or going into long term care