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Equity Release

Unlock cash from your home and enjoy a more comfortable retirement

Try our free Equity Release calculator

Try our free Equity Release Calculator

Our Equity Release Calculator allows you to quickly find out how much tax-free cash you could unlock from your home.
Go to our Equity Release Calculator

Please note that the information given on these pages should not be seen as advice to take out this product. 

benefits of equity release

Equity Release isn’t for everyone, so it’s important to understand the benefits and what to consider.

Advantages of Equity Release

  • Get a tax-free cash lump sum
  • With a Lifetime Mortgage, the tax-free cash can be taken as either a lump-sum or you can 'draw down' the money as income depending on the option you choose
  • You still own 100% of your home with a Lifetime Mortgage
  • If you pay off your current mortgage with the lump sum, you can choose to spend the leftover cash in a variety of ways

Things to consider

  • The money you release from your home could affect any means-tested benefits you’re entitled to now or in the future
  • The money you release is paid back after you die, from your estate. This means the size of your estate, and the amount you can pass on to your loved ones, could go down
  • The money you release from your home is a loan, and interest will be repaid when you die or if you move into long-term care
  • You have to take advice to release equity from your home. Initial advice is free, and there is no obligation. If you decide to go ahead and your case completes, our advice fee of £1,795 would be payable. Other lender and solicitor fees may apply
  • If you're looking to find some extra money in retirement, Equity Release isn't the only option. There are lots of alternatives like downsizing your home or taking out a personal loan
  • Equity release requires paying off any existing mortgage

Equity Release Advice

To help you access money from the value of your home, we provide an Equity Release advice service.  Everything we do at LV= is focused on giving you honest advice and finding you a suitable equity release plan from the whole of the market with the fastest, friendliest service.

We believe that everyone should have access to independent, regulated financial advice. It should not be seen as a luxury for the few who can afford it or who are experienced in using it. Why? Because it provides financial and emotional benefits. Good advice ensures better financial outcomes and frees people from the worry of making complex decisions that could have long-term implications.

Types of lifetime mortgages

We know your home is important to you, that's why lifetime mortgages are clear and straightforward

Lifetime Mortgage Lump Sum

If you need to release equity for a specific one off expense such as home improvements or to pay university fees, it may be better to borrow a one off lump sum.

Lifetime Mortgage Drawdown

Rather than just receiving a one-off lump sum, a drawdown lifetime mortgage gives you the option to release your cash over time, as and when you need it.

Important information about Equity Release

Here’s the need to know info, so you have the full picture

  • Releasing cash from your home will reduce the value of your estate and may affect your entitlement to state benefits
  • You are not required to make repayments, therefore the loan plus interest can grow very quickly
  • These are lifetime mortgages. To understand the features and risks ask for a personalised illustration
  • Equity release may involve a home reversion plan or lifetime mortgage which is secured against your property and may reduce the value of your estate and impact funding long-term care

Please note, at LV= we don’t offer a home reversion plan option

Choosing the most suitable product will depend on a number of considerations, including:

  • How much equity needs to be released and in what form
  • The value of the property
  • The age of the homeowner
  • How much, if any, the homeowner wants to leave as an inheritance

Financial Advice on equity release

Need help?

We’re here to help, have a commitment-free chat with one of our friendly advisers today.

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