How Equity Release Plans Work


While there are a range of different schemes offering lump sums and/or regular income, they all work on the same principle: they lend you a part of your home’s value in return for a share of the proceeds when you die.

In most cases you will need to be at least 55 years old, own a property in reasonable condition and preferably have no or only a small mortgage. It is however possible to repay an existing mortgage by using equity release.

Equity release plans can be complicated products and are a major step for many people. Your house is almost certainly the most expensive asset you own; it is also your home. Good advice is essential.

Age Concern and the Financial Conduct Authority, the UK’s chief financial watchdog, both recommend getting independent financial advice before proceeding.

At Impartial Financial Management we specialise in providing this type of advice and can guide you through the options helping you to achieve the best possible outcomes.

This is a lifetime mortgage. To understand the features and risks ask for a personalised illustration.