Equity Release is a lifetime mortgage for the over 55’s and it enables you to unlock wealth from your property, without having to sell your home.

Equity can be released as a lump sum, or as a monthly income. There are also some lifetime mortgages which give you the option to “drawdown” further equity at a later date.

Equity Release allows older homeowners to borrow money from the value (the equity) of their property. The case released can be used towards nearly any purpose. Lifetime mortgages are the most common plan, where interest is charged on the amount borrowed, and compounds over the lifetime of the loan. The final balance is eventually repaid by the sale of the property on death or entering into long term care (of the last surviving applicant).