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Modern Smart Home

Equity Release

Untie cash from your home’s value without having to sell

Call free on 0208 629 3467

  • Take out tax-free cash with our lifetime mortgage, with a fixed interest rate and no hidden costs

  • Get expert advice, with no separate advice fee if you come to us direct

  • We’ll explain the pros, cons and costs of a long-term loan secured against your home

What is equity release?

It’s a way of taking cash out of the home you own without having to move. There are two types of equity release – a home reversion plan and a lifetime mortgage.

The one we offer is a lifetime mortgage, which you can apply for once you turn 55. This is a long-term loan secured against your home. When you (and your partner, if you’ve taken it out jointly) pass away or need to go into long-term care, the loan and any interest that’s built up is paid back – normally using money from your home’s sale, subject to our terms and conditions.

You need to know that taking out any type of equity release will mean you can leave a lower amount behind to loved ones. It may also have a tax impact and affect whether you’re still eligible for welfare benefits.

What you can borrow is based on things like:

  • Your age

  • Your health and lifestyle

  • What your home’s worth

  • The type of property you own and where it is

Have you already taken out equity release with us?


What can you use equity release for?

That’s mostly up to you. But releasing equity is a huge decision and commitment, so we have to be happy you’re doing it for the right reasons. Like giving your (unintentionally) retro kitchen a much-needed refresh. Filling up your retirement tank to make yourself a little more comfortable. Or helping your kids with a leg up on the property ladder.


Your home is still all yours

Even though you're borrowing money against your home, all that brick, mortar and whatever else still belongs to you

Nothing for your loved ones to pay

Thanks to our no negative equity guarantee, you’ll never have to repay more than the amount your home’s sold for, provided that it’s sold for the best price reasonably obtainable


Leave a little – or not so little – something behind

Set aside a percentage of your home’s value to leave for loved ones – it just means you can borrow less (the minimum you can borrow is £15,000)

The benefits of the kind of equity release we offer (our lifetime mortgage)

Get crunching the numbers for an idea of how much tax-free cash you’ll be able to take from your home using our calculator.

How much money could you release from your home?

Calculating Budget

What are the pros and cons of our kind of equity release?


You’ll still own your home

You’re the full legal owner of the property – that doesn’t change.

You won’t be leaving your family with the debt

Because of our no negative equity guarantee, your loved ones will never have to repay more than the money received from the sale of your property, provided that it is sold for the best price reasonably obtainable.

An interest rate just for you

We tailor our interest rates to each application so it’ll be unique to your personal situation – and it’s fixed so it’ll never go up.

Take a little here and pay a little there if you need

We let you choose to take a one-off lump sum or a smaller cash sum with a cash reserve to dip in to. You can also make smaller repayments if you need, subject to our terms and conditions.

You only pay interest on money you’ve taken out

If you set up a cash reserve, no interest will build up on money sitting there, until you withdraw it. We’ll set a new interest rate for each amount you take out, so your initial lump sum and any later withdrawals will have their own rate.

Moving somewhere new? Our lifetime mortgage can move with you

You can transfer your lifetime mortgage to a new home, as long as it’s a type of home we can lend on.

Be protected if you downsize later

Should you move to another property later, you may be able to pay off your lifetime mortgage in full with no early repayment charge, thanks to our downsizing protection. This applies automatically once you’ve had equity release with us for three years or more.



Leaving less behind

Even if you set aside a percentage of your home’s value for your loved ones, paying off the money you’ve released (plus any interest) will still mean you’re leaving them less in inheritance.

It may have a tax impact and affect certain benefits

Taking cash out of your home through a lifetime mortgage could have tax implications or affect whether you’re eligible for certain welfare benefits. Your equity release adviser will go through all of this with you.

You’ll be paying back a lot in interest

Because we add interest to your loan and the interest already added each year, the amount you owe goes up quickly.

It’s a big decision, and a lifetime commitment

Our equity release is designed to last for the rest of your life – or until you need long-term care. If things change and you want to pay this off sooner, there may be a big early repayment charge.

It’s important to look at everything before you apply for our lifetime mortgage – the great bits and the not-so-good things

How to apply for equity release – the steps to getting a lifetime mortgage with us

Get expert and legal advice
When you get in touch with us, you’ll first speak to a team that will check you’re eligible for our lifetime mortgage. They’ll arrange a call with an expert FCA-regulated equity release adviser. This adviser can only give advice about our lifetime mortgage, and they’ll tell you if they think it’s right for you.

If so, they’ll give you a personal illustration and go through the all-important details with you – we’re talking benefits, costs and risks. If you come to us directly, you won’t pay a separate advice fee, instead we’ll pay the adviser commission once you complete on your lifetime mortgage.

It’s time to talk to your loved ones
Speak to your family about your plans and decide whether it’s right for you.

Signed, sealed, submitted
If it’s a thumbs up on the equity release front, you’ll then finish the application with your equity release adviser. Next, we’ll sort out an independent valuation of your home and as long as it ticks all the necessary boxes, we’ll let you know how much you can take out.

An offer will be on its way
Once we’ve taken a look at your application, we’ll send you an offer which confirms how much you can borrow. You’ll go through all this with your equity release adviser and solicitor. Then all that’s left for you to do is sign any legal bits.

The money’s in your bank
Now everything’s sorted, you’ll get your money sent to your bank account through your solicitor.


How long does equity release take?


A straight-forward case should take around 8 to 10 weeks. That's from when you apply for a lifetime mortgage with us to the money landing in your bank account.

Get specialist equity release advice

To find out if you could get equity release with us, get in touch to arrange a call with a UK-based equity release adviser. You don’t have to commit to anything, it’s just to see if it’s an option for you. You won’t pay a separate advice fee. Instead, we’ll make a commission payment to the adviser on completion of your loan. You can call us or get us to give you a call instead.

Call us free 

0800 000 0000

Your call will be answered by a financial advice firm that we’ve specially chosen to give information and advice about our lifetime mortgages. They're authorised and regulated by the Financial Conduct Authority.

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Why choose us for equity release?

We’re an extremely efficient organisation in terms of equity release, promoting high standards and best practices for all customers who take out equity release.

A highly rated choice

We continue to receive recognition, both in our role as a lender and for the lifetime mortgage we offer

Our heritage of helping
We’ve been protecting people like you for over 16 years.

Tap into 24 years’ equity release expertise

We’ve helped over 270,000 people release more than £10 billion since 1998


Our no negative equity guarantee

You or your estate will never have to pay back more than the best price your home can reasonably be sold for

Still leave an inheritance

You could lock away a percentage of your home's value to leave behind to your loved ones

Other ways to use your money

If you’re not sure if income drawdown is right for you, take a look at other options for taking money from your pension once you’re retired. You can see more and compare your options here.

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Leave your money where it is for now

More help with your pensions

Transfer your pensions

If you have a pension, or several pensions, you can bring everything together in one place. Even if the amounts are small, it all adds up.

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Our savings marketplace offers you a selected range of cash savings accounts. Each has competitive interest rates, so it's just a case of finding the one that best suits you.

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Start saving for your retirement, or bring all your pensions into one place with out flexible Self-Invested Pension Plan (SIPP).

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