How Does Equity Release Work?

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How does equity release work?

Equity release unlocks the value built up in your home as a tax free lump sum

You retain homeownership for the rest of your lifetime. You can still move home and you can still leave an inheritance. Repayments are optional and the money borrowed is repaid when the property is eventually sold. 

Lifetime Mortgages and Drawdown Lifetime mortgages are the most common type of equity release and provide access to the equity tied up in your home, providing you with total control over your money.

If you are considering enjoying the benefits of raising money from your home, we can compare the options from all providers whilst also ensuring you secure the best possible interest rate. 

The plans are popular because they allow the over 55s to raise money from property with more flexibility than traditional mortgages offer. They are arranged over your lifetime and have optional repayments. 

As a result, they remove the stress typical mortgages since there is no pressure to make payments unless you wish to. 

The interest can still be repaid to maintain control of the amount owing and to preserve equity for an inheritance or downsizing, for instance. 

Drawdown mortgages offer a safe way of tapping into the wealth tied up in your home to spend as you wish, as long as any existing mortgage is settled from the money taken. 

Request your quotes today & we will search the market for you. 

Have any questions? Get in touch with an expert

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We can save you money with exclusive plans through our independent equity release advisers who have highly rated equity release reviews across the industry


Is Equity Release a good idea?

Equity Release enables the over 55’s to safely access the money tied up in your home, known as the Equity. This wealth has gradually built-up as house prices have increased over the past few decades, making your home a financial asset. It’s becoming more popular as the cost of living is increasing and with money tied up in property it makes financial sense to many people to make use of this equity. It’s completely safe as you maintain full control of your home. 

Compare My Equity help you identify your best plans based on your specific circumstances and your expert adviser can calculate the equity release interest costs for you and find the most competitive fixed interest rate for your requirements.

We provide an independent equity release comparison service to compare all your equity release options. We compare equity release providers, interest rates and schemes and provide detailed equity interest calculations and advice service. 

Whether you wish to extend your mortgage term or raise cash to help you live the retirement you deserve, these plans provide a greater range of options then traditional mortgages. The Compare My Equity experts will help you understand all your options and can even arrange the plans for you. 

Importantly, since this equity can be taken out tax-free, the mortgages provide an attractive & economical method of raising cash to enjoy and enhance your quality of life with a cash injection using a lifetime mortgage.

How Much Do You Repay Back With Equity Release?

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

To understand how much you repay back with equity release it’s important to obtain advice. Your equity release adviser will provide detailed interest projections showing how much you will pay back. 

As you can also repay interest you can maintain control over the balance of funds taken which can help reduce the overall cost of the equity release. 

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

We will calculate your repayments based on the amount released using our own equity release calculator for accuracy. 

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. 

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We can save you money with exclusive plans and explain how equity release works

How Equity Release Works

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.

We use lifetime mortgage interest calculators and provide detailed interest projections including house price forecasts to help you understand the effect interest will have on your equity. 

An expert adviser will indentify your best equity release deals

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 with equity release & how is the interest calculated?

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. 

Many lenders calculate the interest daily and add it either monthly or annually. 

We provide interest rate calculations to show you how making repayments back will help preserve your equity for the future. This shows how the accrued interest will look if you don’t make any payments and the benefits of repaying the interest. 

Our interest repayments calculators detail how the interest will be charged and the effect of making lifetime mortgage interest repayments back to your plan to help you with your own calculations. 

How do I find the most suitable option for me?

Understanding your options and suitability is important to making the best decision for you.

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. We compare the entire equity release market to find your best solution.  

The specialist broker we put you in touch with operate a zero-pressure policy, and will answer all your questions to ensure you are fully informed with no commitment.

How much are UK equity release interest rates?

Equity release interest rates vary depending on your age, your property value and the required amount of money you borrow. Your adviser can provide a detailed quotation. 

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.

Importantly, you can still move home if you wish and repay or move the mortgage with you. 

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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