What’s the difference between Equity Release & Lifetime Mortgages?

Equity Release is simply a term for raising equity. An equity release lifetime mortgage is the most common method of safely accessing this equity from your home, tax-free.

Are lifetime mortgages safe?

All lifetime mortgage UK lenders are all fully regulated by the financial conduct authority (FCA). Your lifetime mortgage quotes will only be from Equity Release Council Plans for your added peace of mind. The council are the industry trade body who provide several codes of conduct for your added security, including the essential guarantee you will never enter into negative equity.

Can I make repayments?

Usually you can repay up to 10% of the amount borrowed within any 12 month period. This is on a flexible basis and completely voluntary.

How do I find the most suitable option for me?

We can put you in touch with an expert who will review and assist with this process to compare equity release schemes and interest rates for you.

Do I have to sell my home?

The most common form of raising equity is a lifetime mortgage where you maintain 100% full home ownership for the rest of your life, or joint lives where applicable.

Can I use my equity for early Inheritance or for tax-planning?

An equity release lifetime mortgage can be used for estate planning purposes. When you request your quotes, we will put you in touch with an expert adviser to discuss this in more detail.

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Taking an equity release lifetime mortgage may impact on current and future entitlement to means tested state benefits. Ask for a personalised illustration to understand the risks.
Lifetime mortgages have voluntary repayment options which enable the balance to be maintained if desired. We provide detailed illustrations and projections to help you understand whether this is a suitable solution for your requirements.

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As later life mortgage experts with 40 years experience, it’s fair to say we’ve seen a few changes over the years!

The most impressive is the level of flexibility with the range of later life mortgages we arrange for our customers, who simply want to enjoy the retirement they’ve worked for.

Qualifying for a mortgage over the age 60 is not as complex as most people believe.

In fact, getting a mortgage for the over 60s is straightforward with Compare My Equity, as we search the whole market for your best deal.

Make a mortgage enquiry today and access exclusive broker deals for over 60s, 70s & 80s and discover how much hidden wealth you’ve got tied up in your biggest asset.

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Releasing Equity from Your Home

It’s important to compare equity release interest rate market and schemes with an expert.

We help you find the best equity release plan and we have access to all providers to secure your best deal.

Modern equity release plans are flexible and secure. Repayments on equity release mortgages are voluntary, therefore you have guaranteed home ownership for life. You can continue to enjoy your home in the years to come, whether you choose to make payments or not.

You retain full home ownership & security for life. Request your quotes today.

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