What is equity release?

Equity release lets you release tax-free cash from your home, without having to move, which you can then spend on whatever you choose - home improvements, making your retirement more comfortable or maybe helping the grandchildren get on the property ladder.

This is available to you if you're aged 60 or over and are a homeowner. The money you release can be in the form of a cash lump sum, a drawdown reserve of cash or both.

Equity release is not necessarily suitable for everyone, that's why there are equity release specialists who are qualified to advise you on the products before you make a decision. It''s a good idea to involve your family in the decision-making process because releasing money from the home will affect the amount that you will be able to leave in inheritance.

Here at LV= we offer two equity release products in the form of lifetime mortgages

the LV= Lifetime Mortgage
the LV= Flexible Lifetime Mortgage

Calculate how much equity you could release

The amount of equity you could release depends on your age and the value of your home.

By using the calculator, you'll be able to see how much could be available for you.

Once you use our free equity release calculator, our dedicated equity release specialist partner, Equity Release Assured, will send you their free guide in the post. They will also help you to arrange your no-obligation consultation.

What are the advantages and disadvantages of equity release?

Advantages

You can release capital from your property to help you in retirement, without having to move out of it.
You can continue to live in your home for as long as you like, until you die or go into long-term care. This way you can benefit from any future rises in property value.
You can choose to have a cash lump sum, a drawdown reserve of cash or both.
You can set up an initial loan amount and at the same time set up a maximum loan to draw from in the future.
You can spend the money as you wish.
You can release more equity in the future if you need or if property prices rise.
You can borrow from £10,000.

Disadvantages

The loan plus interest can grow very quickly - there’ll be less, and in some cases, no inheritance to leave to family.
If you release cash from your home it may reduce your right to state benefits, now and in the future.
The longer you live, the less equity you own (unless house prices grow more rapidly than the outstanding debt). If you live a long time, with a lifetime mortgage all the equity in the property could be wiped out.

However, we are members of The Equity Release Council which means we guarantee no-negative equity on your property so you will never owe more than the property value.
If property values fall, the percentage of the property value that is accounted for by the lifetime mortgage may rise very quickly.
If you choose to repay the mortgage in the first ten years you will have to pay an early repayment charge.
You may not be able to borrow more money against your home in the future.

LV= are pleased to recommend Equity Release Assured (ERA), who have a dedicated team of equity release specialists. Their role is to make sure you choose a plan that is right for you. LV Equity Release Limited acts as an introducer to Equity Release Assured Limited for advice on equity release products.

This is an equity release plan. To understand the features and risks ask for a personalised illustration.

ERA provides advice on a limited range of specially selected equity release plans which includes the LV= range of lifetime mortgages. Unless you decide to go ahead, their service is completely free of charge, as ERA’s typical advice fee of 1.5% of the amount released would only be payable on completion of a plan.

Call ERA today for more information on how equity release can help you

Call us

Speak to an adviser

You can phone Equity Release Assured
Speak to a specialist adviser for more information on equity release products:

0800 202 8116

9am - 5.30pm Monday to Friday

We may record and / or monitor calls for training and audit purposes.

If you already have an equity release plan please call:

0800 028 8974
8.30am - 5.30pm Monday to Friday

We may record and/or monitor calls for training and audit purposes.

Things to consider

Equity Release Council

Being members of The Equity Release Council, we're dedicated to the protection of planholders and the promotion of Safe Home Income Plans (SHIP) guaranteeing a no negative equity.

Why choose LV=

A retirement provider you can trust established in 1843.

Winner of Best Lifetime Mortgage Lender at the Mortgage Finance Gazette Awards 2013

Product information

Unlocking your capital
Enjoy a brighter tomorrow

View more product information

Get advice

Speak to one of the ERA advisers to find out more about equity release.

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