Equity release is a way of unlocking and accessing the equity (cash) currently tied up in your home. Depending on your equity release product, this cash may be released to you in a lump sum, in multiple smaller amounts, or a combination of the two.

There are two methods for releasing equity:

Lifetime Mortgage: With a lifetime mortgage, you take out a mortgage that is secured against your property. You receive the mortgage value in cash, which you are then able to spend as you please. You remain the owner of the property and are free to continue living in it. You also have the choice of making repayments on the lifetime mortgage or allowing the interest to roll up. The outstanding loan amount and any built-up interest is paid back through the sale of the property when the last borrower dies or moves into long-term care.

Home Reversion: With home reversion, you sell all or part of your home to a home reversion provider in exchange for a cash lump sum or regular payments. You are free to continue living in the property, though you must agree to maintain and insure it. If you choose to sell only part of the property, you can choose to sell further percentages of it and release further amounts of equity in the future. When the last borrower dies or moves into long-term care, the property is then sold by the home reversion provider, and the proceeds are shared according to the percentages of ownership of the provider and you.

There are many reasons to release equity from your property, common purposes for doing so include:

• Paying off your mortgage
• Gifting the money to your family
• Boosting your income
• Making improvements to your home
• A once-in-a-lifetime purchase

Important to note also, the cash you unlock is tax-free, meaning the amount you agree with your equity release provider is the amount you get.

Whatever your reasons for wanting to release equity from your property, fill in our form using the link below and an advisor will be in touch to discuss your next steps.

Equity release is not available to all, so you need to be aware of common restrictions. These include:

• You must own your home. You may still have a mortgage on the property, depending on your equity release provider’s policy, but you cannot be in rented accommodation.
• The minimum age of the youngest homeowner looking to release equity is 55.
• The minimum property value on which you can release equity is £70,000.
• Park, static, mobile or caravan homes are not eligible for equity release.

If your circumstances do not contradict any of the above conditions, fill in our form and an advisor will be in touch to discuss your next steps towards unlocking cash from your property.