It is a big financial commitment and deciding to purchase an equity release product should not be considered lightly. Everyone’s circumstances are different and what’s right for you may not be right for someone else.

It is common for people over 55 to decide to downsize or move to a more suitable property. A standard equity release product should allow you to move house and transfer your mortgage to a new property.

We have outlined in our other blogs the types of equity release products available and how they differ. It is important that you seeks advice before committing to these products. Using equity release can affect any means-tested benefits you may receive, including Pension Credit. […]

The time it takes to apply for equity release will depend on your provider and your circumstances but it is best to anticipate it taking a couple of months. Much like taking out a mortgage, you will need a solicitor to help complete forms and to liaise with your lender. […]

Many people who release equity from their homes are doing so to pay off their mortgage or to consolidate unsecured debts. It can be a great way to sort your finances as you enter retirement.

Equity release allows you to access your property’s value for more cash when you retire. You can benefit from the capital your home holds without having to sell your home and move.

We have outlined in other Access Equity Release blogs the criteria you must meet to release equity from your home. You must be over 55 for a lifetime mortgage and often over 65 for home reversion, you must own your home and it must be of a certain value. […]