We offer free, no obligation service.
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or give us on a ring on 0161 706 0242 to speak to one of our Mortgage brokers.

We offer free, friendly, no obligation service.
Simply fill in our contact form
or give us on a ring on 0161 706 0242 to speak to one of our Mortgage brokers.

What is Equity Release?

An equity release plan is a way of accessing the money tied up in your property without having to move home – your ‘equity’ is the value of your home, minus any outstanding mortgage. Because property prices have generally increased over time, many people’s homes are now worth more than the amount they paid for them, which means those at or approaching retirement could have more money tied up in their home than from their savings and income.

Equity Release can be used for many purposes, including:

What are the main features of Equity Release Plans?
The money that you release is tax-free and can be spent in almost any way you want, plus there are typically no repayments to make unless you wish to. With lifetime mortgages, the most popular type of equity release, you continue to own 100% of your home and the plans are ‘portable’ which means that you can still move home in the future if you wish.

All plans come with a no-negative equity guarantee, so you can never owe more than your home is worth, plus some plans include options to guarantee an inheritance for your beneficiaries.

Specialist equity release advice is essential in order to discuss the effect on the amount of inheritance you can leave, and if your entitlement to means-tested benefits could be affected now or in the future. Other important things to consider are whether there are any alternatives to equity release, such as downsizing, or if there could be early repayment charges should you wish to pay off an equity release plan early.

Want more information?
Get in contact today and let us guide you through the process.