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Boost your pension income by releasing value from your home

Equity release lets you release tax-free cash from your home, without having to move, which you can then spend on your garden or home, on a holiday, to treat family or friends or to make your retirement more comfortable.

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.

These are lifetime mortgages. To understand the features and risks, ask for a personalised illustration.

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  • 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.


  • 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 outstanding debt). If you live a long time, with a lifetime mortgage all the equity in the property could be wiped out. We're members of The Equity Release Council, we guarantee no-negative equity on your property so you'll never owe more than the property value.
  • If property values fall, the percentage of the property value that's accounted for by lifetime mortgage may rise quickly.
  • If you choose to repay the mortgage in the first ten years you'll have to pay an early repayment charge.
  • You may not be able to borrow more money against your home in the future.

Frequently asked questions about Equity Release

We know that your home is very important you you. Here are some popular questions about equity release products.

What is a lifetime mortgage?

A lifetime mortgage isn't that different from the standard mortgage you probably took out when you first bought your home. It's a loan secured against the value of your home on which interest is charged. However, unlike a standard mortgage, there are normally no monthly instalments to pay (although some providers may require you to pay the interest on the loan).

This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.

How much can I borrow?

The maximum you can borrow depends on your age and the value of your property. This typically ranges from 20% of the value of your property if you are 60, to 55% if you are 95 depending on which mortgage you choose to take.

How do I know if equity release is right for me?

To find out if equity release is right for you, you might want to follow the 6 steps below:

Step 1: Advice - Find an equity release adviser you feel comfortable with. Your adviser will assess your personal situation and help you consider the alternatives of releasing income or capital that do not involve losing some of the equity in your home.

Step 2: Talk to your family - Discuss equity release with your family and intended beneficiaries to your will. They might be able to help you raise the money you need.

Step 3: Personalised Illustration - Based on your individual circumstances, your equity release adviser will prepare a personalised illustration for you to tell you exactly how equity release could work for you.

Step 4: Independent legal advice - If you don’t already have a family solicitor, find one who specialises in equity release. Your solicitor will not only sort out all the legal details but will make sure you fully understand how the lifetime mortgage works and all the implications before you go ahead.

Step 5: Application, valuation & offer - Once you and your adviser have decided on the right scheme, your home will be valued and you will be sent an offer detailing exactly how much equity you can release.

Step 6: Completion - If you are satisfied with all these details you can agree to take out an Equity Release scheme. Once you have signed the required documentation you will receive your money.