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Equity release plans

At Equity Release Supermarket, we’re often asked "what types of equity release plans are available and which one is right for me?"

As equity release grows in popularity, so do the number of plans available and the range of flexible features they offer. Many of these features can be mixed and matched to create a tailored equity release plan to meet your individual needs.

And don’t worry if you find the various options confusing as your local Equity Release Supermarket adviser is always on hand to answer all your questions and find the right plan for you. Let's start by having a look at the later life lending plans that are available.

Lifetime Mortgage Plans

Lifetime mortgages are the most popular types of equity release plans simply because of their ever-increasing number of flexible features.

The money you release can be taken as a single lump sum, a series of smaller amounts known as ‘drawdown’, or as an income payable monthly. All our lifetime mortgage plans come with variety of flexible features to cater for the financial demands of retirement.

If you’re a homeowner over 55, we can also offer you other ways to borrow. Being whole of market and independent we can offer access to plans such as home reversion plans, retirement mortgages and retirement interest-only (RIO) mortgages.

All these equity release schemes and mortgages are outlined below. Simply click on the equity release plan you're interested in to find out more.

Lump sum lifetime mortgages

Ideal when you want a one-off, specific amount or maximum lump sum of money. Comes with flexibility of choosing whether you want to make repayments or allow the interest to roll-up.

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Drawdown lifetime mortgages

Take your money in smaller chunks now and in the future. Could help to reduce the final amount to be paid as interest is only charged on the amount borrowed. Drawdown is the most popular lifetime mortgage.

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Voluntary repayment lifetime mortgages

Allow you to make ad-hoc repayments up to a maximum of 15% of your original loan amount each year with no penalty – which could dramatically reduce the final amount to be repaid.

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Interest-only lifetime mortgages

Make regular monthly interest repayments for the life of your plan. Assuming payments are maintained to the end of the term, the final amount to be repaid is simply the initial amount borrowed.

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Enhanced lifetime mortgages

You may be able to borrow more if you have any number of common health conditions or illnesses. The amount is based on your health and lifestyle.

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Second or holiday home lifetime mortgages

You can use a lifetime mortgage to buy a second or holiday home, or even release money from a UK based second/holiday home that you already own.

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Buy to let lifetime mortgages

If you have a single buy-to-let property or an investment property portfolio, you could release money from them using a specialist range of lifetime mortgages.

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Other ways to borrow