Equity Release

Equity release is available to homeowners aged 55 or over. It involves unlocking the money that may be tied up in your home, minus any mortgage.


Different Types of Equity Release


There are two main types of equity release, the most popular is a lifetime mortgage as with this type of equity release plan you continue to own 100% of your own home.


The alternative is a home reversion plan, which involves selling some or all of your home in return for a lump sum of cash. This is much less common, but is still offered by many equity release providers.


Benefits of Equity Release


✔ No requirement to make monthly repayments on your lifetime mortgage


✔ Receiving a lump sum of tax-free cash


✔ Depending on the lenders criteria, you could still have the option of moving home in the future, should you wish

✔ Continue to own 100% of the home you love, only with a lifetime mortgage


✔ Clear your standard mortgage

✔ The option of protecting a percentage of your property value for your loved ones

✔ You continue to live in your own home

✔ Once you’ve paid off your mortgage you can spend the lump sum of cash as you wish.

Things to Consider...


✗ The interest is rolled-up against the loan and will be repaid when you die or move into long term care

✗ Equity release may reduce the amount of inheritance you can leave

✗ We provide initial advice for free and without obligation. On application for an Equity Release mortgage we charge £395 to process your application

✗ In some cases the lump sum of money that you release could affect your entitlement to any means-tested benefits that you may receive now or in the future

✗ It is a requirement of releasing equity that you repay any standard mortgage that you may have

✗ A home reversion plan requires you to sell some or all of your home


Equity release may involve a home reversion plan or lifetime mortgage which is secured against your property. To understand the features and risks ask for a personalised illustration.

Equity release requires paying off any existing mortgage. Any money released, plus accrued interest would be repaid upon death, or moving into long-term care.

A Lifetime Mortgage will reduce the value of your estate and may affect your entitlement to means-tested benefits and tax status. 


The impact of not servicing monthly interest payments on a Lifetime Mortgage is that the outstanding debt can grow rapidly, thus reducing the value of your estate. For example, if the interest rate was 7% a year, a £50,000 loan would double to £100,000 after 10 years assuming no repayments are made. 


This is an example for illustrative purposes only and personalised advice and recommendations should be sought from a qualified professional. You are strongly advised to register a lasting power of attorney. This will allow your affairs to be managed by somebody else if your mental abilities significantly decline.

Make an Appointment


Telephone or email us to discuss your needs or book an appointment at a time to suit you in the Cornwall & Devon area.


We offer a friendly, professional service and have access to a comprehensive range of first charge mortgage lenders.


Tel: 0800 772 3915

Calls to this number are FREE of charge.




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