Equity release is a way of taking cash from the value of your home if you’re aged 55 or over without having to move but also guaranteeing you can keep the roof over your heads for your lifetime. The money you unlock through equity release is all tax-free and can be spent in a variety of ways. So, whether it’s repaying your existing mortgage, supporting your loved ones when they need it most or simply boosting your retirement finances, equity release could help you live the later life you want.

You can use the money you release?

• Help your children with money difficulties or to buy their own home
• Live out your dreams of travelling the world
• Pay off your loans
• Make vital improvements to your home as you grow older
• Have some extra money to help you enjoy your retirement

The two types of equity release

Lifetime mortgage: The most popular type of equity release. A lifetime mortgage lets you take a loan secured against your home whilst still owning it.

Home reversion scheme: You sell all or part of your property for less than the market value. You stay in your home, but as a tenant.

Equity release may involve a lifetime mortgage or a home reversion plan. To understand the features and risks ask for a personalised illustration. Equity release will reduce the value of your estate and can affect your eligibility for means tested benefits.