Equity release tips

Are you a homeowner aged 55 and over? Is equity release something that you’re now thinking about? If so, it’s essential that you get equity release advice that is suitable for your circumstances. For some, it could be the most suitable option. But for others, it isn’t necessarily the case. Only by seeking independent advice on equity release can you be sure that you’re making the right decision.

At The Equity Release Experts, our aim is to make everything much clearer. So, that’s why we’ve created some simple equity release tips to give you the full picture on what’s involved.

One size doesn’t fit all

It's a regulatory requirement that you must obtain expert equity release advice before you go any further on the journey. But that doesn’t mean you should just settle for the first adviser you find. It’s important that your adviser knows your circumstances so that they can make a recommendation tailored to you and your needs.

That’s what our equity release advice service is built on. We take the time to get to know you as an individual. By doing this, we can find the most suitable equity release plan for your requirements.

Talk to your loved ones

It’s your home and your financial future – so the decision to unlock some of the value in your home is one that only you can make. We always recommend that you talk to your loved ones first. You don’t have to, of course, but it can sometimes help.  

How could you release the funds?

While the funds you release from your home can be used for many different purposes, you should only release what you need. As part of our tailored equity release advice, you'll discuss what you plan to spend the money on with your adviser.

It helps us to recommend the most suitable type of plan for your needs. You might wish to release the funds in one lump sum. If so, a lump sum lifetime mortgage could be an option. Or you could opt for a drawdown lifetime mortgage if you want to access your funds over a longer period of time following an initial release.

Another way of releasing a tax free lump sum is through a home reversion. With a home reversion plan you will sell all or a percentage of your property to the home reversion company.

Explore how much you could release

With a lifetime mortgage, the most popular form of equity release, once you know how much you’d like to borrow, the next step is to explore how much you could unlock. Our free equity release calculator can help you do this quickly and easily. You’re able to see what plans could be available and which ones, if any, may be suitable to meet your needs.

Of course, you should still seek expert equity release advice once you get your results from our calculator. Call 0800 188 4812 or request a callback today and speak to us free of charge.

For a home reversion quote you would need to contact an adviser, click here to request your callback.

Do you have alternative options?

We won’t ever make it seem that equity release is right for you when it isn’t. If you choose to use our independent equity release advice service, your expert adviser will ensure that you’re aware of – and have considered your options.

Some of the alternatives can include downsizing, taking out an unsecured personal loan or using existing savings and investments. If equity release isn’t right for you, we’ll let you know.

How much is your property worth?

There are several factors that can affect the amount you could unlock – your age, health and lifestyle choices, for example. But another important factor is the value of your home.

At The Equity Release Experts, your recommended provider will instruct a surveyor to value your home if you go ahead with equity release. This ensures a fair and accurate value.

Do you want to pass on an inheritance?

For some of our customers, being able to leave an inheritance to loved ones matters a lot. If this sounds like you, our equity release adviser can explain the benefits of having a plan that offers inheritance protection.

This type of plan ring-fences a percentage of your home's future value, and guarantees that you’ll have something to pass on to those you care most about, subject to criteria. 

Think about making partial payments

If the idea of reducing the long-term cost of a lifetime mortgage, the most popular form of equity release, sounds appealing, why not look into making partial repayments? By coming to us for independent advice on equity release, we will recommend the most suitable product that offers this feature. This is all subject to plan criteria.

Any repayments made during your plan will lower the overall cost of your plan – call 0800 188 4812 or request a callback to learn more.

Partial payments are only available on lifetime mortgages.

Do you plan to move in the future?

It’s hard to know for sure right now – but is there a chance you may wish to move home after taking out an equity release plan? This is something you should talk to your adviser about. With all plans that meet the Equity Release Council standards, you have the right to move to a new home and transfer your existing plan across (subject to criteria).

Have you thought about your benefits?

As you get older, you may be entitled to different means-tested state benefits, such as pension credit. Any funds you unlock from the value of your home could affect your eligibility for these, both now and in the future. As part of our specialist equity release advice, we’ll make sure you know what effect releasing funds could mean for you.

We’re making it easy to take the next step

With our equity release tips, you’ll hopefully now be much more in the picture about what it means to unlock some of the funds from your home. But the only way to know for sure is to get specialist equity release advice from someone who’ll take the time to understand you and your requirements.

At The Equity Release Experts, all of our advisers will find a plan that is tailored to your current situation.

Take the next step and talk to our specialists. Call 0800 188 4812 or request a callback today.


Things to consider with equity release

  • A lifetime mortgage is a loan secured against your home.

  • Typically with a lifetime mortgage there are no monthly repayments to make as the loan plus roll up interest is repaid when the plan comes to an end.

  • Equity release will reduce the value of your estate and may affect your entitlement to means tested benefits.

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

  • With a home reversion plan you will receive less than the market value of your home and the amount you will receive will depend on your age, property value and the proportion you sell. You can live in your home rent free for as long as you choose - however you will no longer be the legal owner.