The money is secured against your home and can be used for any purpose you like. Some reasons people may consider equity release are:
To top up your savings
To supplement pension income
To cover living expenses or pay for home improvements
To take a holiday
To help children out with, for example, a property purchase
To settle a repayment mortgage or pay off an interest only mortgage
To see family enjoy some of their inheritance
To pay off other debts to reduce monthly outgoings
Our site provides information about Equity Release - both Lifetime Mortgages and Home Reversion Plans. If you would like to know more, or would like a free no-obligation assessment tailored to your personal circumstances, please complete the form at the top of the page.
The Equity Release Comparison Service - Free, no-obligation comparison of all UK Equity Release providers, including Aviva, Bridgewater, Hodge Lifetime, Just Retirement, LV, more2life, New Life, Partnership, Stonehaven and more.
People are living longer thanks to advances in medical technology and healthier lifestyles.
This is great news but means that retirement income needs to cover a longer period of time.
With a lifetime mortgage you continue to own your home completely and are given a loan based on your age and the value of the property. You can pay the interest charged monthly or have the interest rolled up into the loan amount – this means there would be no monthly payments.