Equity release is a type of financial product that helps you to release or free up cash from the value of your property.
The key points about equity release
- You receive a tax free cash lump sum and could arrange access to further amounts as and when required
- You can use the cash for whatever you wish
- You will not have to move house
- You do not have to repay any of the cash borrowed until the property is sold either on your death or if you move into care
- You also have the option to guarantee an inheritance for your family
- You will continue to be responsible for the maintenance of your property
- You have the right to move your equity release plan to another suitable property without any financial penalty
- With some plans, if you decide to repay early, there may be substantial early repayment charges
Please call us to find out more, lines are open Monday to Friday, 9am to 6pm.
Equity release is not right for everyone; it may affect your entitlement to state benefits and it will reduce the value of your estate.
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 Find out if you qualify
Common uses of equity release
Use our equity release calculator