Equity Release Mortgages

If you are looking for independent broker advice to arrange equity release then we can help.

What is Equity Release?

Equity release is a financial product that enables homeowners over 55 to access the equity they have built up in their property. It allows them to receive a lump sum or regular payments while remaining in their home for the rest of their life.

There are two main types of equity release products: lifetime mortgages and home reversion. A lifetime mortgage is a type of loan that is against a property, which the homeowner does not have to make any repayments on until the end of their life, or they move out of the property permanently. Lifetime mortgages usually attract interest that is added to the outstanding balance of the loan, and this will compound over time, this can reduce the amount of inheritance that can be left to the beneficiaries.

A home reversion plan, on the other hand, is a type of equity release where the homeowner sells a percentage of their home to the lender in exchange for a lump sum or regular payments. The homeowner retains the right to live in the property for the rest of their life, but the lender will own a share of the property and will receive a share of the proceeds when the property is sold. The homeowner will receive less than the full value of their home as the lender will be taking into account the future sale of the property.

It's important to consider the long-term implications of equity release and seek professional advice before making any decision.

Monthly Payments

One of the benefits of equity release mortgages is that there are typically no monthly repayments, the interest is simply added to the loan, or 'rolled up'.

Cash When Required

With equity release it is possible to only take the money from the plan as and when it is required. This is known as a drawdown.

No Negative Equity

The plans our advisors offer come with a strict no negative equity guarantee. It is also possible to ringfence a percentage of the house value to guarantee it is passed on after you have gone.

Key Points

  • Advisors fully trained with CeRER qualification
  • Plans meet Equity Release Council standards
  • If it's not correct for you we will let you know
  • No upfront fees for advice

Get a Quote

We can get an advisor to look at your situation and give advice, if you are happy we can proceed from there.