Equity release is a way of taking out cash from the value of your home, if you’re aged 55 or over, without having to move.
It’s a long-term loan that’s eventually repaid using your home once you pass away, or if you need to go into long-term care. Until then, you’ll remain a homeowner and won’t need to move out.
The type of equity release that we offer is called a lifetime mortgage. You can receive either a one-off lump sum payment or a lump sum, with a cash reserve to draw from in the future.
If you’re thinking of taking out an equity release product, you should take financial advice from an independent financial adviser. They’ll be able to suggest a plan suitable for your needs by researching all the products on the market.
We are not authorised to give advice on Equity release mortgages. However, if this is something that may be beneficial to yourself, we can make a referral to a specialist firm who specialises in this area.
A lifetime mortgage is a long-term commitment which could accumulate interest and is secured against your home. Equity release is not right for everyone and may reduce the value of your estate.