1. What is equity release and how does it work?

Equity release lets homeowners aged 55+ access some of the value tied up in their property without having to move. The most common type, a lifetime mortgage, is secured against your home; interest is added over time (usually with no monthly repayments required, though some plans allow optional repayments), and the loan is normally repaid from the sale of the property when you pass away or move into long-term care.

2. How much money can I release from my home?

This depends mainly on your age and property value — generally, the older you are, the higher the percentage of your home’s value you can release. As a rough guide, homeowners around 55 can typically access roughly a fifth to a quarter of their property value, rising to around a half or more from their mid-70s onwards. Health and property type can also affect this. Because every case is different, we always provide a personalised figure rather than a generic estimate.

3. Will I still own my home if I take out equity release?

Yes. With a lifetime mortgage — the most common form of equity release — you retain full ownership of your home and the right to live there for life (or until you move into long-term care), provided you meet the plan’s terms and conditions.

4. Could I end up owing more than my home is worth?

Not with a plan that meets Equity Release Council standards. These plans include a no-negative-equity guarantee, meaning that provided the property is sold for the best price reasonably obtainable and the terms have been met, you or your estate will never owe more than the property is worth — any shortfall is written off by the lender. We only recommend plans that meet these standards.

5. Is equity release a good idea, or are there better alternatives?

It depends entirely on your circumstances — that’s why advice matters. Alternatives such as downsizing, a Retirement Interest-Only (RIO) mortgage, using savings, or other borrowing may sometimes be more cost-effective. As independent, whole-of-market advisers, we compare all of these with you and will tell you honestly if equity release isn’t the right choice.

6. How does equity release affect inheritance and benefits?

Equity release reduces the value of your estate, which will affect how much you can leave as inheritance. It can also affect entitlement to means-tested state benefits, such as Pension Credit or Council Tax Support. We talk through both of these implications with you and your family before you make any decision.

7. What does your equity release advice cost?

We charge a fixed advice fee of £495, payable only on completion. If your application doesn’t proceed, there’s no charge. Lender fees and legal costs are always explained upfront before any application is made, so there are no surprises.

8. Am I eligible for equity release?

You’ll typically need to be 55 or over and either own your home outright or have a small remaining mortgage balance that can be repaid using the released funds. Eligibility also depends on your property type and value. The best way to find out is a free, no-obligation conversation with one of our advisers.