Thinking about releasing money from your home?
Equity release, often arranged through a lifetime mortgage, can allow you to unlock tax-free cash from the value of your home without needing to move out. It may be used to support retirement income, fund home improvements, consolidate debts or help loved ones financially.
However, later-life lending can be complex. The right route will depend on your circumstances, goals, property value, income, age and wider financial plans. Our independent equity release advisers can help you understand the options available, the costs involved and the potential impact on your estate.
How our equity release advisers can help
Understand your circumstances
We’ll take time to understand your goals, property, income, outgoings, family considerations and long-term plans before helping you explore what may be possible.
Compare later-life lending routes
We can explain how lifetime mortgages, retirement interest-only mortgages and other mortgage options work, including eligibility, interest, repayments, fees and potential risks.
Guide you through the process
If you decide to move forward, we’ll help with the paperwork, explain what lenders may need from you and keep you updated throughout the application process.
Equity release is not just about accessing cash
Taking money from your home could reduce the value of your estate, affect the inheritance you leave behind and impact your entitlement to means-tested benefits. Interest can also build up over time, particularly if repayments are not made during the mortgage term.
We’ll help you look beyond the amount you could borrow and understand the wider implications, so you can make a more informed decision about whether later-life lending is right for you.
Later-life mortgage options we can support with
Lifetime mortgages
A lifetime mortgage is a type of equity release that allows you to borrow against the value of your home while continuing to live there. The loan and interest are usually repaid when you die or move into long-term care.
Drawdown lifetime mortgages
A drawdown facility may let you release money in stages rather than taking one lump sum. This can provide flexibility, although it is important to understand how interest may build up on the amounts you take.
Retirement interest-only mortgages
A retirement interest-only mortgage, or RIO, is designed for older borrowers. You usually make monthly interest payments, with the loan repaid when the property is sold, you move into long-term care or you pass away.
Alternative mortgage options
Depending on your needs, there may be other mortgage routes to consider before equity release. We can help you compare the options and understand which may be more suitable for your circumstances.
Start by talking through your plans
Whether you want to support your retirement, help family, improve your home or understand your later-life borrowing options, we can help make the mortgage side feel clearer.
Book a free consultation with our Mortgages and Protection team today and we’ll explore your priorities, and how we can support you.
Important information:
We offer a free initial consultation to discuss your goals and next steps. If you decide to go ahead with advice, charges may apply – these will be explained before you commit. We offer a comprehensive range of mortgages from across the market, but not deals that you can only obtain by going direct to a lender. Remember your home may be repossessed if you do not keep up repayments on your mortgage. Mortgage products can change or be withdrawn at any time and are subject to underwriting.