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Equity Release

Unlock cash from your home and enjoy a more comfortable retirement

Try our free Equity Release calculator

Please note that the information given on these pages should not be seen as advice to take out this product. 

benefits of equity release

Equity Release isn’t for everyone, so it’s important to understand the benefits and what to consider.

Advantages of Equity Release

  • Get a tax-free cash lump sum
  • The tax-free cash can be taken as either a lump-sum or you can 'draw down' the money as income depending on the option you choose
  • You still own 100% of your home with a Lifetime Mortgage
  • If you pay off your current mortgage with the lump sum, you can choose to spend the leftover cash on whatever you want

Things to consider

  • The money you release from your home could affect any means-tested benefits you’re entitled to now or in the future
  • The money you release is paid back after you die, from your estate. This means the size of your estate, and the amount you can pass on to your loved ones, could go down
  • The money you release from your home is a loan, and interest will be repaid when you die or if you move into long-term care
  • You have to take advice to release equity from your home. Initial advice is free, and there is no obligation. If you decide to go ahead and your case completes, a fee of £1,795 would be payable
  • If you're looking to find some extra money in retirement, Equity Release isn't the only option. There are lots of alternatives like downsizing your home or taking out a personal loan
  • Equity release requires paying off any existing mortgage

Equity Release Advice

To help you access money from the value of your home, we’re working with Simply Lifetime Mortgages to provide an Equity Release advice service. They’re experts who specialise in Equity Release advice from across the whole of the market.

If Equity Release is right for you, then Simply Lifetime Mortgages can help you release the money from your home.

Simply Lifetime Mortgages will pay Liverpool Victoria Financial Services Limited an introductory fee if you decide to take out a product. This will be based on a percentage of the product value. Please contact us if you require further information on this.

Types of Equity Release

We know your home is important to you, that's why lifetime mortgages are clear and straightforward

Lifetime Mortgage Lump Sum

If you need to release equity for a specific one off expense such as home improvements or to pay university fees, it may be better to borrow a one off lump sum.

Lifetime Mortgage Drawdown

Rather than just receiving a one-off lump sum, you have the option to release your cash over time, as and when you need it.

Important information about Equity Release

Here’s the need to know info, so you have the full picture

  • Releasing cash from your home will reduce the value of your estate and may affect your entitlement to state benefits
  • You are not required to make repayments, therefore the loan plus interest can grow very quickly
  • These are lifetime mortgages. To understand the features and risks ask for a personalised illustration

Choosing the most suitable product will depend on a number of considerations, including:

  • How much equity needs to be released and in what form
  • The value of the property
  • The age of the homeowner
  • How much, if any, the homeowner wants to leave as an inheritance

Financial Advice on equity release

Need help?

We’ve chosen to partner with Simply Lifetime Mortgages to offer you advice on Equity Release.

Simply Lifetime Mortgages logo

Mon to Sat - 8am - 9pm

Sun - 9am - 5.30pm

Calls will be recorded and may be monitored for training and audit purposes.