Equity release allows homeowners aged 55 or over to access the built-up value (equity) in their property as a tax-free lump sum or income stream. The funds can be used for any purpose. Lifetime mortgages, the most common option, accrue interest over time. This loan is repaid through the sale of the property when you pass away or move into long-term care.
Yes, discussing equity release with your family is crucial as it impacts their inheritance. Consider having them present at meetings.
We're an independent equity release broker based in Gloucestershire. We're not a lender, so our advisors can search the entire market to find the best plan for your needs.
No, equity release doesn't require a good credit history. However, a poor credit record might limit your plan options. We can still find suitable plans based on your situation.