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Release Tax-Free Cash From Your Home Today With Equity Release. Find Out More. Price Beat Guarantee – Market-Leading Experts – Trusted Finance Brand
Find out more about releasing the equity locked up in your property. Over 55 homeowners can get tax free cash in a lump sum or have pay-outs split into smaller amounts as you need. Compare the biggest brands competing to provide your retirement income, complete the form to find out more.
Improve your home
Extend your home with an extra bedroom? A conservatory, or a new kitchen, have the money to do this when you release equity from your home!
Help your family
Son or daughter going to university or college? Releasing equity can help them financially with rent and other living costs.
Maybe your children are struggling to buy their own first home – use money tied up in your home to help them access a better mortgage
Once in a lifetime holiday?
Do the things you’ve always wanted to with the money tied up in your home. Australia, New Zealand or even a few long winters in the south of Spain away from the cold of the UK. Many people in retirement enjoy the freedom and flexibility of a motor home purchased with equity release.
Equity release is a way of releasing the wealth tied up in your property without the need to move. With equity release products, you can either borrow against the value of your home or sell all or part of it for a regular monthly income, a lump sum, or the facility to get at equity as and when you like or a combination of these options.
Although there are many different plans available, they can all be split into four main categories of equity release schemes:
You release a lump sum from the value of your property, whilst maintaining 100% ownership of your home. This amount, plus any interest accrued, is repaid from the sale of your property when you pass away or move into long-term care.
Drawdown Lifetime Mortgage
This works similar to Lifetime Mortgage but with a regular cash reserve/draw down option allowing you to withdraw amounts at a frequency you choose up to a specified amount of years, or until the cash reserve has been used up.
Interest-Only Lifetime Mortgage
You get a lump sum and pay a monthly interest on the loan, which can be fixed or variable, rather than allowing the interest to roll up. The amount you originally borrowed is normally repaid when your home is eventually sold.
Home Reversion Plan
Here, you sell some or all of your property in exchange for a lump sum of money, whilst maintaining the right to remain living in your home, rent free, for as long as you live.
Equity release plans are not right for everyone and it is important that you fully consider your options and receive independent financial advice before making a decision. It is also important that, if you do decide to use an equity release product, you choose one that meets your needs.
Remember that taking an equity release plan is generally a long term option. However, there are flexible plans available that may fit your varying needs and some will allow you to repay in the future without any penalties. A financial adviser can help you to choose the plan that is right for you.
Our daughters salary meant she could only borrow a limited amount of money from the bank. By using our home for equity release we could give her the deposit for her buying her first flat in London. Without equity release she would be renting for ever!
Mr and Mrs Shaw
We used equity release to buy a motor home. Now we go for long holidays in Scotland and the Lake District in the summer and the South of Spain in the winter. Equity release has given us true freedom!