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Equity Release

Introduction

happy older lady gardener

If you are a cash-strapped homeowner over 55, an equity release scheme could be ideal for you.

Many older people have a lot of home equity – value tied up in their property – but would like more ready money. Using a lifetime mortgage or reversion scheme could give you a release of equity, as a lump sum or in regular payments, to supplement your income.

It is essential that you seek professional financial and legal advice before signing up for equity release, as it will impact on your estate.

How To

How to use a lifetime mortgage

Lifetime mortgages can provide money for your retirement without the headache of...

How to use a home reversion plan

Home reversion schemes are an alternative method of releasing equity from your p...

Case study – Home reversion plans

Gail Shaw, 77, had previously looked into home reversion plans but was unsure ab...

Case study – Lifetime mortgages

Mary Harris, 77, and husband Thomas Harris, 84, are retired teachers.

How to release equity from your home

Equity release is an important financial tool for older homeowners.

54% shop around for equity release

More than half of those homeowners who signed up for an equity release scheme wi...

Guides

2016: The tipping point for lifetime mortgages?

Andy Humphreys, marketing director at Legal & General Individual Retirement...

Guide to borrowing past retirement age

As an older borrower, you may be concerned that a lender will not offer you a mo...

Guide to tracker mortgages

This type of product follows the Bank of England Base Rate or the lender's Stand...

Guide to equity release

More and more older people are turning to equity release mortgages to enable the...

Jargon Buster

A ability to pay A way of working out how creditworthy a borrower is, by esti...

Guide to home reversion schemes

Home reversion schemes are an alternative method of releasing equity from your p...

News

Baby-boomers enjoy property wealth surge

The total property wealth of over-65s has grown by £7.6 billion since November ...

Average care home stay will cost half the value of your home

If you need to enter residential care you can expect to pay total bills of betwe...

Revealed: the average loan taken by an equity release borrower

The amount of equity released by homeowners from their properties in 2016 was al...

Government plans incentives for downsizing

The government intends to offer older homeowners sweeteners to move out of their...

The value of UK homes? A cool £6.8 trillion

The value of UK housing stock rocketed past the £5trn mark in 2016, ending the ...

Are over-55s locked out of the mortgage market?

Nearly six out of 10 estate agents believe the current range of mortgages does n...

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Speak to an adviser

If you are considering taking out an equity release product and would like to speak to an impartial adviser, read on.

Quarter of over-45s expect to use equity release

Just under a quarter of homeowners aged over 45 expect to use the equity in their property.

Family BS links with later life advisers

The Family Building Society, which launched to market in July, has linked up with four partner firms to offer advice to members on Later Life Planning.

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