Equity Release Mortgage Guide

Mortgage Guide
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Equity Release UK Guide
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Equity Release General info

How equity release works

Equity release plans explained

Home reversion schemes explained

Lifetime mortgages explained

Types of equity release plan

General Info

Already a Homeowner? Want to Release Some Equity?

If you are already a homeowner - with or without a mortgage - then you might want to release some equity from your home to give you a cash lump sum.

This means that if you have paid off a significant amount of your mortgage and/or property prices have risen, you can benefit from some of the "profit" that is locked into your house without having to sell your home.

Lenders provide a variety of packages for doing this, but they are generally described as "equity release" mortgages.

Typically you will be able to borrow up to 95% of the equity in your home, given to you in a lump sum which you then pay back like a normal mortgage. This can be used to pay for home improvements, lifestyle changes, home repairs – almost anything, really.

WARNING Be very careful when doing an equity release mortgage. For some reason they are not regulated by the Government. Many experts are worried about this new trend and there are concerns it could become yet another personal finance scandal.

Watch out for the following

Make sure that your proposed equity release plan has a negative equity guarantee. This means that should the value of your property decrease then the debt will also decrease proportionally.
Make sure that you can keep full ownership of your home until your death.
Make sure that you are allowed to move home after taking out an equity release plan.
If you are living “in sin” with a partner, Make sure that you take out a joint plan that makes the debt reclaimable only after the death of the last surviving partner.
Make sure that any outstanding debt after the sale of your property will not be passed on to your relatives.
Watch out for the extra charges involved, like legal fees, the property survey and setting up fees or other admin charges

If you are interested in finding out how much equity release you could get for yourself, the calculator below will give you a rough idea of what is possible.

To get a more precise figure the best thing to do is to talk to an Equity Release Specialist. To contact a recommended one simply click the "Next" button - after entering your figures - then fill out the quick contact form. You will be contacted soon for a free, no obligation quote.

Step 1 of 2

Equity Release

Age of the youngest homeowner?
Estimated value of the property?
Total outstanding mortgage or secured loan on the property?

Approx. amount available via equity release: Minus any outstanding mortgage or loan:	£ - £
Potential Cash Available: (May vary based on personal circumstances)	£
Equity release is only available if the youngest homeowner is 55 or over. The best option for those under 55 is a remortgage. Click here now to get remortgage advice and a quote
There is not enough equity available in your property for Equity Release. Your best option is a remortgage. Click here now to get remortgage advice and a quote
There is not enough equity available in your property for Equity Release.

Get equity release advice now

Step 2 of 2

Your details

First name:	Last name:

Phone number:	Alternate phone number:

E-mail address:	Best time to call you:


First line of current address:	Current postcode:

Based on your requirements we have selected the FSA regulated broker Broker Name to help you with your enquiry. Please click SUBMIT to confirm that you are happy for them to contact you by telephone/e-mail.

Finished

Thank you for your enquiry.

Your adviser will be in touch with you shortly.

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Value of Property	£
		(eg 125000)

Borrow How Much?	£
		(eg 92500)

Your Mortgage Type

First time buyer?		Yes No
Have you found property?		Yes No
Country

Sorry ! The amount you want to borrow is less than £25,000. This is the minimum allowed for a mortgage. But don't worry! You could get the money via a personal loan. I want a free no obligation loan quote Click OK No thanks. I will change my borrow amount to more than £25,000 Click Cancel