What is Equity Release?

Quite simply equity release is a way of using the cash tied up in your home to fund a better standard of living in retirement or to spend as you wish. If you are aged 55+ you can use equity release to receive a lump sum or a number of lump sums over a time period or to produce a monthly or quarterly tax free income.

The money released can be used to fund a better standard of living, home improvements or helping the family out, the choices are endless.

The most popular way people release equity is through a lifetime mortgage. You Retain 100% ownership of the home and the money you borrow is charged on a fixed rate of interest with the advantage it is a known cost to you. You will make no repayments back in your lifetime the money is designed to be paid back on 2nd death if on a joint life basis or you move into sheltered accommodation or the property is no longer your main residence.

You have the right to remain in the property for as long as you wish and have the right to move to a suitable alternative property, providing it meets the provider's lending criteria. Find out if you are eligible call us today on free phone 0800 783 8229