If you’re looking for flexible access to your money, a drawdown lifetime mortgage may be a suitable solution for you, as you could release smaller amounts over time.
Use our free calculator to get a view of how much tax-free cash you could release to help you live your life, your way.
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Equity release will involve a home reversion or a lifetime mortgage, which is secured against your property and will reduce the value of your estate and impact funding long-term care. You can read more about the different types of equity release plans here and if you want more detail we can provide you with a personalised illustration to explain exactly what equity release could mean for you and will outline the features and risks.
You must take financial advice before proceeding with equity release. It’s important that you make the right decision. That’s why we provide our initial advice for free and without obligation. Only if your case completes would our advice fee of £1,895 be payable. Other lender and solicitor fees may apply.
You will need to pay off any existing mortgage or secured loan that you have. You can use some of the money raised through equity release to do this.
Another consideration is that equity release interest is compounded, so you pay interest on interest. The money you release, plus the accrued interest is then repaid when you die or move into long-term care.
Equity release may have an impact on your entitlement to means-tested benefits now and in the future.
The money that you release from your home can be used for lots of different things. You may want to:
Each year we help over 600,000 people explore the option of equity release.
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.