Equity Release
Equity release allows you to unlock cash from the value of your home.
Whatever financial freedom means to you in later life – renovating your home, helping your children, or simply supplementing your income – equity release is designed to help.
The type of equity release we offer is a lifetime mortgage. It’s a long-term loan on the value of your home, which is repaid, usually from the sale of your home, when you (and your partner, for joint lifetime mortgages) die or need to go into long-term care.
Equity release will reduce the value of your estate and can affect your eligibility to means tested benefits.

Equity Release
How do interest and repayments work?
You don’t need to make any monthly repayments. Instead, interest is added each year, both to the initial loan amount and any interest previously added, which quickly increases the amount you owe. The loan and interest are repaid, usually from the sale of your home, when you die or need to go into long-term care, subject to our terms and conditions.
Will you receive your money all at once?
We offer two lifetime mortgage products, so you can either choose to receive a one-off lump sum payment, or choose to receive a smaller lump sum and set up a cash reserve to draw from when you wish. So, whether you’re paying the deposit for a loved one’s first home, helping with your grandchildren’s tuition fees, or just treating yourself to a few of life’s little luxuries, you can take the money in the way that suits you best.
Although it’s important to remember that a lifetime mortgage will reduce the amount of inheritance you can leave and may affect your tax position and eligibility for welfare benefits.