Equity Release could increase your income and savings, and this means your entitlement for means-tested benefits could change if you take out an Equity Release product. If you receive a state pension, this will not be impacted by taking out Equity Release.

There are other benefits though that will be affected by your level of income and/or your level of savings. These include pension credit, universal credit and council tax reductions and you should seek specialist advice from your financial adviser to understand how this may impact your own personal situation.