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Am I eligible for equity release?
To qualify for later life lending, you simply have to be:
- Over 50 years old
- UK homeowner
- Property valued at least £70,000
Equity release may involve a lifetime mortgage, home reversion, or RIO mortgage which are loans secured against your home and reduce the equity in your property. To understand the features and risks, request a personalised illustration.
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Our smartER search engine only shows you real-time equity release
deals that you’re eligible for, with no credit checks required.
deals that you’re eligible for, with no credit checks required.
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Independence and impartiality are our core values
As a multi-award winning broker we can recommend products across the
entire equity release market. Our impartiality provides the reassurance that we work with all
lenders equally.
Questions about Equity Release?
Get in touch, anytime
Our UK based team of equity release advisers provide specialist advice
across the whole of the
later life marketplace.
Alternativly call us free on 0800 802 1051
What is equity release?
Equity release is a way for homeowners to access money tied up within the value of their home. You don’t need to move or downsize, plus you continue to own your own home. The money released is tax-free and can be spent as you wish, either by taking a lump sum, or a series of drawdowns.
For those age over 50, there are four later life lending options. The most popular is a lifetime mortgage with a starting age of 55. RIO’s, retirement mortgages and home reversion plans also offer alternative ways to help release equity from your home.
Read more about equity release
How does equity release work
Once you’ve decided equity release is the right for you, we then
need to start the application
process.
This takes typically 4-6 weeks and we guide you through the whole process.
1. Chat to an equity release adviser
Discuss the plans for your money with your local adviser – either face-to-face, telephone or video call. After listening to your requirements, your adviser will conduct research to find the most suitable plan and present their recommendations to you.
2. Submit your application
If you’re in agreement, your adviser will then prepare and submit all the paperwork. An independent valuation is conducted and your solicitor is instructed. Upon approval, your lender will make a formal mortgage offer, including all relevant loan information
3. Enjoy your proceeds!
Our team of dedicated case coordinators will support & manage your case throughout. Liaising with both solicitors & lender, they will confirm your completion date. At that point the lender will transfer the equity release money directly into your bank account.
Read moreNot ready to contact us? Here are some of our FAQs
Equity release raises a lot of questions. Here's some of our most common FAQs
that our equity release advisers get asked.
How does equity release work?
There are two types of equity release scheme. Lifetime mortgages are the most popular due to the range of flexible features they offer, this will be repaid when you pass away or go into long-term care. Home reversion plans aren’t often used today, but are still useful for those who wish to guarantee an inheritance for their loved ones.
How much equity can I release?
How much you can release will depend on the value of your home and the age of the youngest homeowner.
To get a quick estimate, try our Equity Release Calculator
Is equity release safe?
UK Equity release is regulated by the Financial Conduct Authority and all our advisers are members of the Equity Release Council – the industry’s trade body who insist that a strict code of conduct is followed.
Am I eligible for equity release?
You are eligible if you meet the following criteria:
- - You’re over 55 years of age
- - You’re a homeowner in the UK with a property worth at least £70,000
- - You have little or no mortgage left on your property
How much does it cost?
Lender’s charges vary and many offer incentives. You can compare the latest equity release deals from across the market on our website or get in touch for a personalised quote.
There are other costs involved such as the advice and solicitor’s fees. Find out more about the fees and charges for equity release.
What are the pros and cons of equity release?
Equity release can be an attractive option for those looking to release cash from their homes. If you opt for a lifetime mortgage, you should consider the impact this could have on the inheritance you leave when your plan is repaid. If you currently claim means-tested benefits, then these could also be impacted.
Find out more about the things to consider and pros and cons of equity release.
Award Winning Equity Release UK Specialists
We're proud that our hard work has been recognised by both experts in the equity release
industry and general public alike. It shows we're providing the best service for our
customers.
