Your equity release advice questions answered

You may have heard of equity release, but you might first want to know more about what it is and how you can do it. If you are considering equity release, you do need to receive advice from a fully qualified adviser to ensure that it is right for you.

Frequently asked questions

Equity release is a way for over-55 homeowners in the UK to release a tax-free cash lump sum from their home.

Equity release can be achieved in several ways, including selling your home and moving to a cheaper one. There are also specific equity release products available, including home reversion plans and lifetime mortgages. 

If you release equity with a lifetime mortgage, it’s like getting a normal loan against your home. It’s different in that you don’t have to make any monthly payments. Instead, the amount borrowed plus interest is repaid after you die or enter permanent long-term care, usually with the sale of the home.

Making the decision to release equity can be a big one, as it is designed to last for your lifetime. Receiving advice is an essential part of your journey, not only to help you fully understand the product, but also to ensure that it is the right choice for you. An adviser will also be able to inform you about the available features and the effect that releasing equity could have on the value of your estate and your entitlement to means-tested benefits.

From making your application with the help of your equity release adviser, it could take anywhere from 8 to 12 weeks for your cash to end up in your account. Of course, this could be shorter or longer depending on how complicated your case is, but your adviser will stay in touch throughout the process to keep you aware of its progress.

Equity release is a way for over-55 homeowners in the UK to release a tax-free cash lump sum from their home.

Equity release can be achieved in several ways, including selling your home and moving to a cheaper one. There are also specific equity release products available, including home reversion plans and lifetime mortgages. 

If you release equity with a lifetime mortgage, it’s like getting a normal loan against your home. It’s different in that you don’t have to make any monthly payments. Instead, the amount borrowed plus interest is repaid after you die or enter permanent long-term care, usually with the sale of the home.

Making the decision to release equity can be a big one, as it is designed to last for your lifetime. Receiving advice is an essential part of your journey, not only to help you fully understand the product, but also to ensure that it is the right choice for you. An adviser will also be able to inform you about the available features and the effect that releasing equity could have on the value of your estate and your entitlement to means-tested benefits.

From making your application with the help of your equity release adviser, it could take anywhere from 8 to 12 weeks for your cash to end up in your account. Of course, this could be shorter or longer depending on how complicated your case is, but your adviser will stay in touch throughout the process to keep you aware of its progress.