Equity release gives you access to some of the cash that’s tied up in your home, without the stress of moving. You can release a tax-free lump sum or you could opt for a plan which will allow you to release funds in stages after an initial lump sum.

You can spend the cash however you wish. This money could boost your retirement finances – whether that means home improvements, pay for those one-off expenses such as buying a car or caravan, the holiday of a lifetime or help for your family and friends.

Lifetime mortgages are increasingly offering homeowners a common sense, tax-­efficient way to:

  • Improve income to keep enjoying a fitter, healthier more active lifestyle
  • Consolidate debts, from mortgages, loans, credit cards etc.
  • Pay off interest-only mortgages
  • Help loved ones via a living inheritance, contribute to education costs or a leg up onto the property ladder
  • Stay at home for longer or pay for care at home
  • Secure the ownership of property following a divorce
  • Move to a more expensive property in retirement {“upselling”)

Your home may be repossessed if you do not keep up repayments on your mortgage.

Equity release could reduce your eligibility to means-tested benefits and could affect your tax position.