How does Equity Release work?
Equity release allows you to release tax-free cash tied up in your home.
Apply onlineThinking about releasing equity from your home?
If you're thinking about releasing equity from your home then one of our experts can guide you through the process at your own pace. You will never be under any obligation to proceed and we will only recommend what is right for you.
To qualify for equity release
You must...
- Be aged 55 or over – both applicants if you are a couple
- Be able to continue to own and live in the property you wish to release equity from
- Be able to release enough equity from your property to enable you to pay off in full any outstanding mortgage or secured loan
Your property must…
- Be valued at least £70,000
- Be in the UK (including Northern Ireland)
- Be either freehold or leasehold, with a minimum lease period of 75 years remaining
- Be of a standard construction and in good condition
With the increasing life expectancy in the UK, pension pots continually reducing and the ever-rising cost of living, equity release could provide assistance in meeting a range of financial needs before, at and during your retirement.
For many people in the UK, their home is probably their biggest financial asset, often far outweighing any savings and income. A popular way to utilise this existing wealth is through an equity release plan.
Homeowners aged 55 years old or over could benefit from unlocking tax-free cash, whilst in most cases, continue to own their own home¹.
Traditionally, paying off an existing mortgage or other debts is the most popular reason our clients look into equity release, closely followed by making home and lifestyle improvements.
¹You can only continue to own your home with a Lifetime Mortgage.
Call us free today on: 0800 802 1849 to find out more!
Find out how much equity you could release from your home TODAY