Welcome to The Equity Release Experts

Equity Release Explained

Equity release is a way to get some of the cash (equity) out of your property without having to move out. The equity is simply your property’s market value minus any mortgage or loans secured against it.

Equity release is only available to homeowners aged 55 or over with a property worth at least £70,000.

There are two types of equity release: 

• A lifetime mortgage, which is a loan secured against your home and lets you access some of the tax-free funds tied in the value of your home while still retaining full ownership. You need to be 55 or over to be eligible.

• Home reversion, where you sell all or part of your home to a reversion company for less than market value in exchange for a cash lump sum, with no interest to pay on the money released, and no monthly payments to make. When the plan comes to an end, the home reversion provider takes its percentage share of the sale proceeds. You need to be 65 or over to be eligible.

This is a lifetime commitment - check the benefits and drawbacks before you go ahead.

Unless you decide to go ahead with a plan, our service is completely free of charge, as our fixed equity release advice fee of £1,799 is only payable on completion of a plan

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Home reversion benefits:

• Releasing equity from your home is tax-free 
• You can live in your home until you pass away or move into permanent care
• There’s no interest to pay (this isn't a loan)
• You’ll benefit from property value increases on your unsold percentage
• You can protect a portion of your property for inheritance, as long as you don't sell 100% of your home

Home reversion drawbacks:

• You'll receive less than the market value when selling your property to the home reversion provider
• It's expensive to cancel the plan early as you'd buy your property back at the full market value
• You won't be the legal owner of the property
• It'll reduce your financial options in the future
• You may be left with limited or no property equity remaining, depending on the % sold

How does compound interest work?

Unless you choose to do so, there are no repayments to make on a lifetime mortgage until the plan comes to an end. As a result, you pay interest not only on the loan itself, but also on the interest already added to the loan.

The loan, plus compound interest, is typically repaid through the sale of the property when the last remaining applicant passes away or moves into long-term care

But there are ways you could reduce the total cost of borrowing of your lifetime mortgage.

More on compound interest

What are my other options?

An expert adviser can discuss your needs over the phone and explain more about equity release. They’ll always tell you if equity release isn’t right for you and there’s absolutely no obligation to go ahead.

Before deciding on equity release, it's important you're aware of some of your other later life finance options, which may include:

• Home reversion

• Later life residential mortgage

• Retirement interest-only mortgage

• Interest payment lifetime mortgage

• Downsizing

• Unsecured lending

• Existing assets

Why choose us?

We’re independent equity release experts, and we search and compare equity release products from across the whole market to find the most suitable plan for you.

• Fully qualified expert equity release advisers available over the phone, so they’re on hand when you need them
• Appointments with an independent equity release adviser can be completed by telephone, video call, or face-to-face, so they can understand what’s important to you and give you advice that’s right for your circumstances
• We’ll compare plans from across the whole market
• No ties to any providers, so you’re always guaranteed, honest, independent advice that’s straightforward and tailored to you – nothing else.

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