Do you have a question about a Equity Release? See our answers below to the most frequently asked questions we're asked. Something you can't find? Don't hesitate to get in touch - our friendly team will be delighted to help.
What is equity release and how does it work?
Equity release is a way of releasing the wealth tied up in your property without having to sell it and move to another home. You can either borrow against the value of your home or sell all or part of it in exchange for a lump sum or a regular monthly income.
What is an equity release scheme?
There are two main types of equity release: Lifetime Mortgages and Home Reversion plans. We can explain.
How much does equity release cost?
You will not have to pay back any of this money until your plan comes to an end and your property is sold or you choose to repay the loan.
How much interest do you pay on equity release?
The rate of interest that will be charged on your loan will either be fixed, or it will be variable, in which case there will be a “cap” on the amount that can be charged at any time.
Is equity release right for me?
That depends on your personal circumstances. It is important to fully consider your options and receive independent financial advice before making a decision.
Why is equity release increasing in popularity?
It is a way to release funds while remaining in your own home.
A specialist property lawyer, Richard joined the firm in 2003 and heads the Equity Release team, advising thousands of clients each year on releasing equity from their homes to support them in retirement.