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Equity Release

Introduction

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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

Top tips for downsizing

With more and more homeowners moving to smaller properties later in life, the Na...

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.

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

When you take out a mortgage you will probably encounter a raft of jargon, some ...

Guide to home reversion schemes

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

News

Older homeowners face a shortfall of £17,984 a year in retirement

Retirement planning needs to consider property wealth as well as pension pot, re...

Retirement interest-only mortgage products double as rates fall

'RIO' mortgages can be used as an alternative to equity release for those homeow...

Retired homeowners saw their property’s value rise on average £3K last year

Welsh older homeowners were the biggest winners, but in two regions retired home...

Three in four over-65s own their home outright

Property wealth is likely to play an increasing role in funding retirement as we...

Eight in 10 choose equity release to avoid downsizing

Some prefer to release equity from their home with a mortgage than downsize to a...

More than 40k interest-only mortgages to mature this year

Most borrowers will pay their outstanding balance on maturity, but some will nee...

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