For many homeowners in Brighton, Hove and across Sussex, the biggest asset they own isn’t in a savings account or a pension pot — it’s sitting under their feet. If you’re 55 or over and find that a significant part of your wealth is tied up in your property, a lifetime mortgage could be one way to put some of that value to work, without having to move house.
What is a lifetime mortgage?
A lifetime mortgage is the most common form of equity release. It allows you to borrow against the value of your home while continuing to live in it for as long as you wish. Unlike a standard mortgage, there are usually no obligatory monthly repayments — instead, interest is added to the loan over time and the whole amount is typically repaid from the sale of the property when you pass away or move into long-term care. Many modern plans also allow optional repayments along the way, which can help manage how the interest builds up.
You can normally choose to take the money as a single lump sum, or as a smaller initial amount with a drawdown facility you can call on later which can be a more cost-effective way to borrow, since interest only accrues on the money you’ve actually taken.
What people use it for
There’s no single reason homeowners look into equity release. Some want to supplement their retirement income, others are helping children or grandchildren onto the property ladder, funding home improvements or care costs, or simply repaying an existing interest-only mortgage that’s coming to the end of its term. Because the money is typically tax-free and there’s no requirement to move, it appeals to people who want to stay settled in the home and community they know.
It isn’t the right answer for everyone
Equity release is a significant financial decision, and it won’t suit every situation. Because interest rolls up over time, the amount owed can grow faster than many people expect, and it will reduce the value of the estate you leave behind. It can also affect entitlement to means-tested benefits. If you’re planning to move in the near future, or your priority is preserving the full value of your estate for family, other options may serve you better — which is exactly why professional, regulated advice matters before any decision is made.
Why work with an independent adviser
Not every equity release adviser looks at the whole picture. At Pure Mortgage, we’re independent and whole-of-market, which means we aren’t tied to any single lender and can compare products based purely on what suits your circumstances. Just as importantly, we look beyond equity release itself — comparing it against alternatives such as downsizing, a Retirement Interest-Only (RIO) mortgage, a standard mortgage extending into retirement, or simply using savings or other borrowing. Part of our job is being honest when equity release isn’t the right fit, even if that means recommending something else entirely, or nothing at all.
As members of the Equity Release Council, we work to a set of standards designed to protect consumers, including guarantees that you’ll never owe more than the value of your home and the right to remain in your property for life or until you move into long-term care.
How we work with you
Your first conversation with us is free and comes with no obligation. We take the time to understand your goals, your family situation and your plans for the future, and we explain clearly how interest roll-up and long-term costs work before you decide whether to go any further. Where it’s helpful, we encourage clients to involve family members in the conversation, so everyone understands the long-term impact of the decision together.
If you do decide to proceed, our fee is a fixed £495, payable only on completion so if your application doesn’t go ahead, you pay nothing. There are no hidden charges, and any lender or legal costs are explained upfront before any application is made.
Getting started
If you’re a homeowner in Brighton & Hove or elsewhere in Sussex and want to understand whether a lifetime mortgage — or one of the alternatives — could work for you, we’re happy to talk it through. There’s no pressure, no obligation, and no cost for that first conversation.
Call us on 01273 722122, email info@pure-mortgage.co.uk, or visit pure-mortgage.co.uk/equity-release-advice-brightonhove to arrange your free initial consultation.
Equity release may reduce the value of your estate and can affect entitlement to means-tested benefits. Regulated advice is required. Pure Mortgage Ltd is authorised and regulated by the Financial Conduct Authority (FRN 915808). Your home may be repossessed if you do not keep up repayments on your mortgage or other loans secured on it.
