Choosing an equity release plan

Whether you're considering a lifetime mortgage or a home reversion equity release plan, it's vital to shop around for a good deal.

You need to

• Get quotes from a wide range of equity release providers but for your protection, deal only with members of the trade body Ship (Safe Home Income Plans).

• Compare all the terms and conditions, even if it means reading a great deal of very boring, very small print.

• Make sure you're clear on absolutely everything and that you take all the costs and possible penalties into account.

For more on this read, Questions to ask about equity release plans.

• Discuss the pros and cons of each plan with your heirs to ensure they understand that they could lose their inheritance. (You might find they would rather lend you the money themselves.)

• Get independent legal and financial advice including estimates of how much each plan could cost you over various time scales, and how releasing equity could reduce your eligibility for state benefits.

And finally

Ask yourself if you are absolutely certain you need the cash, and that you can't find a less expensive way to access it.

What about downsizing, other types of borrowing or even state benefits?

Before you make a final decision, review all your options one more time just to be sure.

Once you sign on the dotted line, it will be too late to change your mind.

If you're determined to go ahead, read Finding equity release providers.

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:

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