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Find out how much you could release from your home

Use our handy calculator tool to see what loan to value you could achieve with a Lifetime Mortgage

If you are the age of 55, Equity Release by way of a lifetime mortgage could allow you to access the money that is tied up in the value of your biggest asset – your home. One of our specialists can help you navigate the best options with the right advice.

Here are just some of the ways a lifetime mortgage with your home can be used:

Make home improvements - add value to your home or add necessities you need in your home for later life

Clear your mortgage – Lifetime mortgage can be used to clear your outstanding mortgage without the need to be based on affordability or make monthly payments

Gifting to your loved ones – you can use your lifetime mortgage to gift to your children or grandchildren as an early inheritance

Treat yourself – Take that dream holiday of a lifetime or replace your car so it lasts through your retirement

Pay off outstanding unsecured debts – clear the monthly credit card or loan payments to reduce your monthly outgoings

Go on that holiday of a lifetime – luxuries such as a lifetime holiday in retirement are on your wishlist. A lifetime mortgage could be used to help make this wish come true.

Purchase a new property. Did you know you can actually take your lifetime mortgage out on a new property to fund the shortfall?

Benefits of equity release

Equity release might be right for you, but it’s important to think about the advantages and disadvantages before making any important decisions.

You get to stay in your own home

Equity release can be seen as an alternative to downsizing. You can use the extra money to boost your pension pot.

You’ll never owe more than the value of your home

Lifetime mortgages provided by members of the Equity Release Council offer a ‘no negative equity guarantee’. Ensuring no debt can be transferred to your family after your home has been sold.

You can access the money when you need it

You can choose to take out a lump sum, or with a drawdown lifetime mortgage you can access smaller amounts of cash over time. You won’t be charged interest on the pot of money until you decide to use some of it.

You won’t have to make any monthly repayments

You won’t need to repay the loan or the interest until your home is sold when you die or move out permanently into residential care.

You could avoid paying inheritance tax

Equity release can be a way for you to give your family a cash gift, avoiding inheritance tax. Inheritance tax rules can be very complex, so make sure you seek professional advice.

*Inheritance tax planning is not regulated by the Financial Conduct Authority.

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