Equity release

Equity Release schemes allow you to access the cash (equity) in the home which you own if you are over 55 years old.


There are two main types of equity release options available:

  • Lifetime Mortgage: this scheme allows you retain ownership of your home by taking a loan on interest. You can choose to make regular repayments or let the interest accrue. Any accrued interest will be repayable when you die or move into long-term care.
  • Home Reversion: this scheme involves selling all (or part of your home) to a home reversion provider, in exchange for a lump-sum or regular payments. You retain your right to stay in your home on a rent-free basis until you die, on the condition that you maintain and insure it. When the plan expires (usually after your death), your home will be sold and the sale proceeds distributed according ownership at that stage.