Equity release, or a Lifetime mortgage, allows those who are over the age of 55 to release a lump sum/equity from their home without having to sell or move house.
There are no stipulations on what the equity released can be used for but below are some examples.
Equity release is a complex product, and it is essential that correct advice is received. Our brokers will explore all options with you to ensure the correct product and advise is provided. Other options, such a standard mortgage or a retirement interest only (RIO) mortgage, may be a more appropriate alternative, so after an initial meeting we can consider all options available to you.
What is a lifetime mortgage?
How does a lifetime mortgage work?
Am I eligible for a lifetime mortgage?
How much can I borrow with a lifetime mortgage?
Are there any fees associated with a lifetime mortgage?
What are the implications for my inheritance?
Will I be able to stay in my home for as long as I want?
How is the loan repaid?
What happens if I want to repay the loan early?
How does a lifetime mortgage affect my means-tested benefits?
Is independent advice recommended?
What is the difference between a lifetime mortgage and a home reversion plan?
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