Equity Release mortgages

Equity release lets older homeowners access money tied up in their property. The most common UK product is a lifetime mortgage, where the loan is secured against the home and usually repaid when the borrower dies or moves into long-term care.

Most lifetime mortgage providers require the youngest applicant to be at least 55. The amount available usually increases with age because the expected loan term is shorter.

Many lifetime mortgages do not require standard monthly repayments. Interest can roll up and be repaid from the eventual sale, although some plans allow voluntary interest or capital payments.

Yes. If you have an outstanding mortgage, it normally has to be repaid as part of completion, either from the released funds or from other savings.

Yes. Equity release advice and lifetime mortgages are FCA-regulated. You should speak to a qualified adviser because the decision can affect inheritance, tax, benefits and future care options.