We know that you are likely to have lots of questions about equity release, what’s involved and how you could benefit from it.
In this section you will find answers to some of the most popular equity release questions. If you can’t find an answer to your question just let us know.
It’s all about equity release being the most suitable solution for your specific needs. There is a lot to consider but the main points that an advisor will discuss with you are;
The amount of equity that you can release is based on the value of your home and the age of the youngest homeowner, rather than on how much equity you have in your home.
The only way that you could access all of your equity is by selling your home, rather than using equity release.
Lots of people wonder ‘can I move house?’ or ‘can I sell my house if I have equity release?’ Yes is the answer. All plans that meet the Equity Release Council’s standards have to allow you to move house in the future. That is providing that the house you’re moving to meets the criteria set by your equity release lender.
Despite ups and downs in property prices, there is every chance that your home is still your biggest asset, and is worth considerably more than you paid for it.
UK house prices have risen by 57% in the last decade (to end of June 2023). As a result, millions of Britons who may have reached or are approaching retirement age, may now find themselves with a wealth of equity that far outweighs their savings and income.
You can use tools such as Zoopla and Nethouse prices to check how much similar house in your area have sold for recently. That will give you a good indication of how much your home could be worth.
As part of your equity release application, the lender will organise for a full property valuation, which will tell you exactly what your house is worth in the eyes of the property surveyor.
Equity release could be an option for anyone who owns their own home and is aged 55 or over.
There can be other things that affect whether you qualify. Such as if your home is classed as non-standard construction because it’s not built from brick or stone. This doesn’t necessarily mean that you won’t qualify, but it may limit the lenders we can recommend to you.
The main type of equity release, a lifetime mortgage, is a loan secured against your home:
We want to make sure that you only take out equity release if it’s suitable for your situation. It won’t be right for everyone.
As part of our advice to you, we will ask you to think about a range of options, such as downsizing to a smaller home, maybe even considering taking in a lodger to help with the running cost of your home, and possibly asking family or friends for support.
Use our free calculator to get an instant view of how much tax-free cash you could release to help you live your life, your way.
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We will talk you through all your options and explain all the pros and cons of equity release, so that you’re fully informed.
Our service is about finding out if equity release is a good fit for you, and only then will we find the best equity release plan for your individual needs.