Equity Release & Lifetime Mortgages

Unlocking the value in your home, with expert advice every step of the way.

Equity release allows homeowners aged 55 and over to access money tied up in their property without having to sell up or move. It is a specialist area of financial advice and one that requires careful, qualified guidance. For that reason I work with a dedicated equity release specialist within my firm who handles all lifetime mortgage and home reversion cases personally.

When you get in touch I will have an initial conversation with you, understand your situation and make a warm introduction to my colleague. You will be in expert hands throughout.

What is equity release?

Equity release lets you unlock a portion of the value built up in your home as a tax free lump sum, regular income or through a drawdown facility. The money does not need to be repaid until you pass away or move permanently into long term care, at which point the loan is typically repaid from the sale of the property.

There are two main types:

Lifetime mortgage
The most common form, making up over 99% of the market. You borrow against your home and retain full ownership. Interest rolls up over time and is repaid along with the loan when the property is eventually sold. No monthly payments are required, though some providers give you the option to make them if you wish.

Home reversion plan
You sell a share or all of your property to a provider in exchange for a lump sum or regular income, while retaining the right to live there for the rest of your life. You no longer own the portion you have sold.

What can I use equity release for?

The choice is entirely yours. Common uses include:

  • Home or garden improvements

  • Paying off an existing mortgage or other debts

  • Helping children or grandchildren with a deposit for their first home

  • Supplementing retirement income

  • Funding holidays or a holiday home

  • Healthcare costs

  • Buying a new car

  • Inheritance tax planning

Who is it suitable for?

Equity release is typically considered by homeowners who:

  • Are aged 55 or over

  • Own a property worth at least £70,000 in the UK

  • Have little or no mortgage remaining

  • Want to supplement retirement income

  • Want to help family members financially

  • Want to fund home improvements or care costs

  • Do not wish to downsize or move

FAQs

Who handles equity release enquiries?
Equity release and lifetime mortgages are handled by a specialist adviser within my firm. I make a personal introduction so you are never just passed on to someone you have never spoken to. My colleague is fully qualified and experienced in this area.

Do I have to make monthly payments?
With a lifetime mortgage you are not required to make monthly payments. Interest rolls up and is repaid along with the loan when the property is sold. Some plans do allow voluntary repayments if you wish to reduce the balance over time.

Will I still own my home?
With a lifetime mortgage yes, you retain full ownership. With a home reversion plan you sell a share or all of the property to the provider, though you retain the right to live there for life.

Can equity release affect my benefits?
Yes, it can. Releasing equity increases your liquid assets which may affect entitlement to means tested benefits such as pension credit. This is one of the reasons specialist advice is essential before proceeding.

What is the no negative equity guarantee?
Plans meeting Equity Release Council standards include a no negative equity guarantee. This means that even if interest rolls up to a point where the loan exceeds the property value, you or your estate will never owe more than the property is worth when it is sold.

Can I still move home if I have equity release?
In many cases yes. Most lifetime mortgages are portable, meaning you can transfer the plan to a new property subject to the lender's criteria. Your specialist adviser will confirm what applies to the specific plan recommended.

How much can I release?
The amount depends on your age and the value of your property. As a general guide, at age 55 you may be able to release around 20% to 25% of your property value, rising to around 50% or more at age 75 and above. Your specialist adviser will give you a precise figure based on your circumstances.

Is equity release regulated?
Yes. Lifetime mortgages and home reversion plans are regulated by the Financial Conduct Authority. My colleague only advises on plans from providers who are members of the Equity Release Council, which sets additional standards including the no negative equity guarantee and the right to remain in your home for life.

I have an interest only mortgage with no repayment plan. Can equity release help?
Yes, this is one of the most common reasons people explore equity release. The funds released can be used to repay the outstanding mortgage balance, leaving you with no monthly mortgage payment and the right to remain in your home. Your specialist adviser will assess whether this is the right approach for your circumstances.

The information on this page is intended as a general guide only and was accurate at the time of writing. Eligibility criteria, product features and costs can change. Please get in touch for current and personalised guidance.

Important considerations

Equity release is not right for everyone. Releasing equity reduces the value of your estate and may affect your entitlement to means tested benefits. Interest rolls up over time on a lifetime mortgage which means the total amount owed can grow significantly. It is essential to take specialist advice and to discuss the implications with your family before proceeding.

My colleague only advises on plans from providers who are members of the Equity Release Council. All such plans include a no negative equity guarantee, meaning you will never owe more than the value of your home.

You may be charged a fee for lifetime mortgage advice. The precise amount will depend on your circumstances.

Ready to get started?

No obligation to get in touch. Let's have a conversation about what you need.

Book a free 15 minute call