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  • Introduction to Equity Release

Introduction to Equity Release

Equity release: unlock money from your home for a more comfortable retirement

Equity release is typically available to people who are over the age of 55 and have their own home with a significant amount of equity, but don’t have enough money or income for their needs. By releasing equity in the form of a lifetime mortgage or home reversion plan, it enables the individual(s) to remain in their home and raise money for things such as:

  • to generate a capital lump sum
  • to provide an additional income
  • to provide lifetime gifts to relatives
  • for home improvements
  • for holiday home purchase
  • to fund long term care

Where equity release is a suitable solution and you take out a lifetime mortgage or home reversion plan, the money does not usually need to be paid back or the home sold until the last remaining borrower dies or moves into care, although this may not be the case, for example if you make repayments to preserve as much of the inheritable estate as possible. 

Is equity release right for me?

Whilst there are benefits for people in this situation, equity release isn’t for everyone and the benefits need to be weighed up alongside drawbacks, such as equity release can:

  • be expensive 
  • impact on you being able to claim certain state benefits and your personal tax position.
  • impact on local authority grants / other grants (i.e. for essential home improvements)
  • potentially erode any inheritance passed down to loved ones

Also, there may be alternative options available to you that need to be explored before taking the equity release route, such as consideration of a conventional mortgage as an alternative, moving to a smaller home, using any savings or investments and potentially selling the home and moving into rented accommodation or living with children or other relatives. 

Don’t worry as we can help you understand all the features and drawbacks so you can make a fully informed decision.

Expert financial advice on what is right for you

As financial advisers with the required equity release qualification and training, we can assess your individual circumstances and needs, and then give you expert advice on the right course of action for you. The benefits need to outweigh the drawbacks to ensure equity release is more suitable than alternative methods of raising funds.

It’s often said that you can’t buy peace of mind; however that’s exactly what our financial service does, as you can rest assured knowing you have the right solution for you.

It is advised that customers seek independent legal advice before entering into a legally binding equity release contract.

EQUITY RELEASE MAY REQUIRE A LIFETIME MORTGAGE OR HOME REVERSION PLAN. TO UNDERSTAND THE FEATURES AND RISKS, ASK FOR A PERSONALISED ILLUSTRATION.

Introduction to Equity Release

Equity release: unlock money from your home for a more comfortable retirement

Equity release is typically available to people who are over the age of 55 and have their own home with a significant amount of equity, but don’t have enough money or income for their needs. By releasing equity in the form of a lifetime mortgage or home reversion plan, it enables the individual(s) to remain in their home and raise money for things such as:

  • to generate a capital lump sum
  • to provide an additional income
  • to provide lifetime gifts to relatives
  • for home improvements
  • for holiday home purchase
  • to fund long term care

Where equity release is a suitable solution and you take out a lifetime mortgage or home reversion plan, the money does not usually need to be paid back or the home sold until the last remaining borrower dies or moves into care, although this may not be the case, for example if you make repayments to preserve as much of the inheritable estate as possible. 

Is equity release right for me?

Whilst there are benefits for people in this situation, equity release isn’t for everyone and the benefits need to be weighed up alongside drawbacks, such as equity release can:

  • be expensive 
  • impact on you being able to claim certain state benefits and your personal tax position.
  • impact on local authority grants / other grants (i.e. for essential home improvements)
  • potentially erode any inheritance passed down to loved ones

Also, there may be alternative options available to you that need to be explored before taking the equity release route, such as consideration of a conventional mortgage as an alternative, moving to a smaller home, using any savings or investments and potentially selling the home and moving into rented accommodation or living with children or other relatives. 

Don’t worry as we can help you understand all the features and drawbacks so you can make a fully informed decision.

Expert financial advice on what is right for you

As financial advisers with the required equity release qualification and training, we can assess your individual circumstances and needs, and then give you expert advice on the right course of action for you. The benefits need to outweigh the drawbacks to ensure equity release is more suitable than alternative methods of raising funds.

It’s often said that you can’t buy peace of mind; however that’s exactly what our financial service does, as you can rest assured knowing you have the right solution for you.

It is advised that customers seek independent legal advice before entering into a legally binding equity release contract.

EQUITY RELEASE MAY REQUIRE A LIFETIME MORTGAGE OR HOME REVERSION PLAN. TO UNDERSTAND THE FEATURES AND RISKS, ASK FOR A PERSONALISED ILLUSTRATION.

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Company address: HSPC Mortgage Services, 30 Queensgate, Inverness, IV1 1DJ T: 01463 231173 E: nfell@hspcmortgages.co.uk

The guidance provided within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.

HSPC Mortgage Services is an appointed representative of TenetLime Ltd, which is authorised and regulated by the Financial Conduct Authority. TenetLime Ltd is entered on the Financial Services Register (www.fca.org.uk/register) under reference 311266.

Principal: Norman Fell 

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