Equity release - releasing money from your property
Have a question about Equity Release?
More and more people in the UK are starting to use the value built up in their home to help them enjoy a better retirement, or fund their children’s start in life. Modern equity release plans are more flexible than ever. Those backed by members of the trade body Safe Home Income Plans (SHIP) offer a guarantee. This means that you will never owe more to the product provider than the value of your property.
Members of SHIP, which includes all our providers, have to comply with a code of practice designed to protect customers. They are regulated by the Financial Services Authority.
What Is Equity Release?
Equity release enables you to unlock money from your home while you still live there. You do not have to make any repayments until the property is sold either on your death or when you move into care. An equity release plan can provide you with access to cash lump sums, a regular income, or both.
To qualify for an equity release plan you must be over a certain age (typically 55) and own your property.
Careful consideration
Equity release is not necessarily suitable for everyone and so it is recommended that you consult one of our Independent Financial advisers. He is fully qualified to advise on these products, and holds the necessary qualifications certificate by examination known as CF7.
As it is a lifelong commitment, we also recommend that you involve your family in the decision making process. Releasing money from the home will affect the amount that you will be able to leave them when you die. Taking out equity release may affect your tax position and entitlement to state benefits.
This is a lifetime mortgage or home reversion plan. To understand the features and risks please ask for a personalised illustration.
Have a question about Equity Release?