The alternatives

Equity release schemes allow you to take advantage of the equity built up in your property. This release of equity from your home can then be spent on anything you wish.

You have the option of paying back the interest, or not, and the plan will run until the last person has died, or moved into long term care. At that point the property is usually sold, with the proceeds of sale used to pay off the equity release scheme and the balance passes to any beneficiaries.