Equity Release

Equity Release made simple

Equity Release is when you release tax-free cash from your home. Most types of Equity Release are available when you reach age 55. They could be an option if you need more money to pay for life in retirement, or if you need cash to afford something else.

There’s a lot to think about if you’re new to Equity Release. That’s why we’re working with Age Partnership to give you access to independent advice and tools that can help you decide if Equity Release is right for you.

As a first step, you can try their quick Equity Release Calculator to find out if you’re eligible and to see how much money you could release from your home.

Things to think about

Equity Release isn’t for everyone. Here are some key things to think about before you decide to release cash from your home:

• The money you release from your home could affect any means-tested benefits you’re entitled to now or in the future
• If you choose a Lifetime Mortgage, the money you release is paid back from your estate after you die. This means the size of your estate and the amount you can pass on to your loved ones could go down
• With a Lifetime Mortgage, the money you release from your home is given to you as a loan. The interest on the capital will be repaid when you die or if you move into long-term care
• You have to take advice before you release equity from your home. Your first advice discussion is free and there is no obligation to continue. If you decide to go ahead, a flat fee of £1,795 is applied
• Equity Release isn't the only option if you're looking for extra money in retirement. There are lots of alternatives like downsizing your home or taking out a personal loan

See what you could get

Simply fill in a few details and find out how much money you could unlock from your property.