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Equity release advice

We can help you unlock your options as a homeowner. Our expert advisors can help you find out if equity release is right for you. You may be able to release equity in your home without having to move.

Call us now for FREE

0808 1686 719

Monday to Friday 9am to 5pm

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  Equity release is available throughout the UK. This service is provided by StepChange Financial Solutions, part of StepChange Debt Charity. We are not a lender. We find products that suit your needs.

What is equity release?

This means using some of the money that may be tied up in your home. It can be done through a lifetime mortgage or a home reversion plan.

  • It is only for people who are aged 55 or older
  • You can get the money in one go or in a series of payments
  • How much you can borrow is based on your age and how much your home is worth. It is not related what you can afford right now
  • You can either make monthly repayments or pay what you owe and manage the interest. Or the mortgage will be repaid when you pass away, move into permanent care or choose to sell your home
  • You can sell all or part of your property to raise a tax-free lump sum
  • Find out our top 10 equity release tips

These solutions are not for everyone. We will look at all your options.

We help homeowners understand their financial options

From finding a better mortgage rate, to unlocking the value of an existing property to deal with debt, make home improvements or even help you live more comfortably after you retire, we can help.

Unlock the value in your home - understand your options.

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Why choose us?

  • Free advice: We do not charge you for advice. If you go ahead with equity release or a mortgage, on completion you will need to pay our Service Fee. This fee cannot be refunded
  • Unbiased: Our advisors are paid a salary. There are no sales targets, bonuses, or commissions. The advice you receive is always in your best interests
  • Trustworthy: Our Financial Solutions clients gave us a 4.9 out of 5-star average review on Feefo in 2022

  • Award-winning: We have won many awards for our service over the years

How to find out if equity release is right for you

We will help you understand your choices. For free advice:

Benefits of equity release

  • You may be able to use this money to deal with debt
  • The interest rate remains the same
  • You will never owe more than the value of your home. This is called a "no negative equity guarantee"
  • No monthly payments. You can make payments to cover interest or more if you choose
  • You could use the equity to supplement your income and stay in your home.

Risks of equity release

  • It may impact the size of your estate after your death
  • Future property prices might be higher or lower than they are today
  • It may affect your tax position
  • It may impact the benefits you already get or that you can apply for
  • There are implications to securing other debts against your home
  • Consolidating debts over a longer period may mean you pay more overall

To understand the benefits and risks, ask for a personalised illustration.

Use our free equity release calculator

Find out how much equity you could release with our free calculator

Calculate now

Can I release equity from my home?

  • You must meet the following criteria:
  • Everyone named on the mortgage is over the age of 55
  • You have at least 58% equity in your property
  • Your property value is a minimum of £70,000
  • The equity released from your home will clear all secured loans and mortgages once completed

Product options can be adapted to your needs. We will guide you through the process. We will make sure you understand the risks so you can make a fully informed decision.

Equity release products

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Interest only lifetime mortgage

Borrow against the value of your home. Repay all or part of the interest.

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Lifetime mortgage

Borrow against the value of your home. Have the option of adding the interest to your mortgage or making flexible repayments to the lender.

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Home reversion plans

Sell part or all of your home. Exchange for a cash lump sum and rent-free lifetime tenure.

Members of the Equity Release Council
Later Lending Awards

Finalists in the Equity Release Awards

Already have a lifetime mortgage?

We will help you find out if your current mortgage is still right for you. We can help you see if there are others with better terms.

Please note:

  • It is important to keep on top of all your payments
  • Most lifetime mortgages have fixed interest rates
  • Some have charges for early repayment
  • Interest rates for new lifetime mortgages change over time

It may be that your best option is to remain with your current plan. But if moving to a new plan could save you money, we can help you with this.

If you need to borrow more money, we can help you decide whether to work with your current lender or go somewhere else.

Equity release fees

There are some associated fees.

1. Advice fee

We do not charge any advice fees

2. Valuation fee

Most lenders offer a free property valuation on any new applications. However, lenders do reserve the right to charge a valuation fee and where they do so, fees can vary between £200 and £1,000 depending on the value of the property. Any further advance applications may always attract a valuation fee.

Where a valuation fee is applicable, this would have to be paid on application to the lender.

3. Legal fee

You should agree a fixed fee with your solicitor. You can do this once the equity release offer is confirmed. Fees depend on the work needed.

We have negotiated a reduced fixed fee from a panel of independent solicitors that we can recommend to you.

4. Application fee

Some lenders charge an application fee. This is usually between £5 and £1000. They sometimes offer the option of a cheaper interest rate.

Some products have no application fee. Your advisor will go through the full costs with you.

A service fee of £495 is payable on completion should you wish to go ahead.

Ready to find out more?

We will help you understand your choices. For free advice:

Debt happens. We deal with it.

We have helped millions of people since 1993.

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"Sound advice for equity release mortgage"

"I found the service and advice offered to my wife and I to be very sound and time was given to fully explain the choices, pit falls and advantages on offer for an equity release mortgage."

Raymond, Feefo Review

Questions people ask us

Yes.

With a lifetime mortgage, you remain the owner of your property.

Are there any conditions?

There are terms and conditions which must be followed. As long as the property is in good repair and you do not become bankrupt, then you can remain in your home.

This is usually possible. This solution might not be right if your house is for sale or you want to move soon.

Yes, you can repay your product or, depending on the property you already own, transfer the product to your new home. There may be charges for doing so.

The property needs to be in a good state of repair. We will check for other factors before making a recommendation.

Yes, as long as all applicants are over the age of 55. If your partner is not on the deeds, you should seek legal advice before going ahead.

On average, eight to ten weeks from the application being submitted. But this depends on how long valuations and legal work take.

Different products have different features and rates.

Any inheritance will be what is left over after:

  • The house sells
  • The loan is paid back

We cannot predict how much the house will sell for or what will be left over.

Ask your advisor about "inheritance protection". This protects some of the property's future value.

Yes, all mortgage balances would need to be cleared.

Yes. Most providers will let you make flexible repayments. However, some charge for paying back the plan in full.

Your advisor will go through the full costs with you

You could:

  • Downsize or move into a cheaper property
  • Use savings
  • Take out more credit, such as a loan
  • Apply for support from the government
  • If your equity release would be for debt problems, you could also look at:
  • A repayment plan (making lower, affordable payments to your creditors)
  • An insolvency solution, such as an individual voluntary arrangement (IVA)

It is important to get the facts before making a decision.

Want to know more? Request a call and we will ring you


Or you can call us now for FREE on 0808 1686 719 for no-obligation advice.