Some of us find that our pensions, savings and investments just aren't enough to enjoy retirement in the way that we thought we would.
That's when it becomes important to make use of all the assets we can - and for most of us, property is our biggest asset. Equity release helps free up cash from the value of our property.
Do you qualify?
To qualify for an equity release plan from Just Retirement you must:
- Be over 60
- Own your home, which must be worth at least £70,000.
We will lend between a minimum of £10,000 and a maximum of £600,000 if you live in England and £250,000 if you live in Wales, Scotland or Northern Ireland*.
The usual range of loan-to-value is between 20% and 45%, depending on age, type of property and medical conditions (for certain types of plan such as the Fixed Lifetime Mortgage).
Careful consideration Equity release is not suitable for everyone, so we ask that you always consult a specialist financial adviser who is qualified to advise on these products.
As it is a lifelong commitment, we also recommend you involve your family in the decision making process because releasing money from the home will affect the amount that you will be able to leave them when you die.
Taking out equity release may affect your tax position and entitlement to state benefits.
* Advances over £250,000 are lump sum only, not drawdown.
Useful links Getting advice and support
Alternatives to equity release
No negative equity guarantee