What types of equity release are available?

There are three main categories of equity release, and within each of these are numerous different plans. More details on these plans can be found by following the links below.

• Lifetime Mortgage - allows you to release a lump sum from the value of your property, with the amount released plus any interest accrued repaid out of your estate when you pass away or move into long-term care.
• Drawdown Lifetime Mortgage - similar to a lifetime mortgage, but with added flexibility, as the cash can be released over time, as and when required, which can reduce the amount of interest accrued.
• Home Reversion Plan - you surrender some or all of the ownership of your property in exchange for a lump sum of money and the right to remain living in the house, rent free, for as long as you live.

Of course, in order to get the most benefit from equity release, it is extremely important that you choose the right plan to suit your individual needs and circumstances, which is why advice from specialists such as Age Partnership can make a big difference. For more details on any of the above, call us, free of charge, on 08080 555 222.

Common Questions

• How will equity release benefit me?
• What types of equity release are available?
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