Equity release enables you to use the money tied up in your home to provide either a lump sum, or regular payments to help supplement the savings you have made for your retirement.
Release money tied up in your home Equity release allows you to borrow against the value of your home if you are over 60 and you and your property qualify. You normally don't need to make any repayments during your lifetime. Instead it is repaid when you die or go into long term care. To understand more about the types of equity release, read more here.
The importance of financial adviceThe money you release is tax free but it may affect your eligibility to any means tested benefits you receive so it’s best to speak to us to receive expert financial advice in the first instance.
Equity release also reduces the value of your estate, or the inheritance you leave to your dependants.
Many people could benefitDuring the last decade house prices have more than doubled in value, despite recent slow growth.
The average house price now stands at more than £160,000* and many people are using the equity they have tied up in their home to help supplement their retirement needs.
Equity release may involve a lifetime mortgage or a home reversion plan. To understand the features and risks, ask for a personalised illustration.
Useful links Money Advice Service - unbiased equity release adviceEquity release calculator
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