What are the risks?

• Because the funds that you release, plus any interest accrued, are paid back from your estate once you pass away, a lifetime mortgage will reduce the value of your estate and the amount that you will be able to pass on to your beneficiaries.
• It is possible that the additional funds made available to you through equity release could affect your entitlement to means-tested state benefits.
• Two alternatives to releasing equity are downsizing to a cheaper property and/or taking in a lodger.
• Some equity release plans impose an early-repayment penalty, so you could incur charges should you wish to pay them off before your death. However, like a standard mortgage, these will vary from plan to plan, reinforcing the benefit of specialist advice before you proceed.

If you are concerned by any of these points, please feel free to give us a call on 08080 555 222, where one of our fully qualified equity release advisors will be able to give you the facts based on your own circumstances.

Your tax position and eligibility for means tested benefits may be affected, the value of your estate may reduce as might your options for moving or selling your home in the future

Find Out More

• What is SHIP?
• Why choose Age Partnership?
• Try our Equity Calculator