Equity release remortgage

Looking to make a big purchase, extend or renovate your home or even help a loved one out with school fees? Whatever your reason for wanting to boost your finances, The Equity Release Experts are here to help. With an equity release remortgage, you may be able to release a further amount of tax free funds that are tied up in your home, without the stress or hassle of having to move.


What is an equity release mortgage?

An equity release mortgage is a way for homeowners over 55 to release tax-free funds from their property. Although there are a number of criteria you must meet, equity release is a popular way for people in or coming up to retirement to get a financial boost, without having to sell their home.

If you have an existing mortgage against your property, you could still have the option to release equity. You would just need to pay off your existing mortgage first.

Before you release equity, you’ll need to weigh up whether it’s the right option for you. It’s a decision which must be thought about carefully, but don’t worry − our equity release specialists can talk you through the options available to you, so you can make the right choice.


How does an equity release mortgage work?

There are two types of equity release: lifetime mortgages and home reversion. Lifetime mortgages allow you to access some of the value locked in your property – either in one lump sum or by releasing an initial amount followed by smaller amounts - while still retaining ownership. There are also plans available that will allow you to pay the interest, if you wish to. 

A home reversion plan, on the other hand, means that you sell part or all of your property to a reversion company in return for one tax-free lump sum. You then live rent free in your home, although you will no longer be the legal owner. There is no interest to pay on this type of loan – the provider will take their share of the proceeds when your home is sold at the end of the plan.


How to remortgage to release equity

We’ve made the process as simple as possible. Getting a quote from us is free and you’re not tied to anything by doing so. Simply head to our equity release calculator to see how much you could potentially release from your home.

We compare the whole of market, so you will receive a recommendation most suited to you and your circumstances.

If you’re happy and want to find out more, give us a call on 0800 188 4812 or request a callback to book a consultation. Our advisers will talk through your options and make a personalised recommendation. Once you’ve taken a look through your personalised product recommendations and suitability report and you've decided you'd like to go ahead, it’s time to complete your application form.

It typically takes around 8-12 weeks from application to completion (timescales cannot be guaranteed), but once the money is with you, you’re free to enjoy it in a variety of ways.


Equity release mortgage advice from the experts

It’s important to remember that you can’t release equity from your home without getting advice from a qualified expert beforehand. As independent equity release advisers, we’ll give you expert, impartial advice on the product which is right for your needs. We’ll help you to understand equity release and what it entails to make sure you’re certain before going ahead.

We’ll always tell you if we feel that an equity release mortgage isn’t right for you, and there’s no obligation to go ahead.

We’re also members of the Equity Release Council and adhere to its high standards of conduct.


How can we help?

If you’re ready to get equity release advice from us and want to explore your options, our friendly and professional team can be reached on 0800 188 4812 (lines are open Monday - Friday, 9am - 5:30pm) or you can request a callback.


Things to consider with lifetime mortgages

  • Equity release may involve a lifetime mortgage, which is a loan secured against your home
  • Equity release will reduce your estate’s value and may affect your entitlement to means-tested benefits
  • A lifetime mortgage may result in limited or no property equity remaining and will reduce your financial options in the future

  • 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

  • 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