How Does Equity Release Work in 2023?
We're trusted by 1000s UK homeowners to find your best equity release solution
The most common form of equity release is a lifetime mortgage, but which is the best solution for your specific needs?
If you feel overwhelmed by the amount of adverts about equity release- you're not alone! Rest assured, we're genuine experts who genuinely care about your best interests. We can provide access to everything you need to make an informed choice.
Equity release is regulated by the FCA, which means you need to take advice. This ensures you stay safe and don't take out an unsuitable plan. We provide advice and a full broker service.
We're here to help you explore all the options, and we're also a member of the Equity Release Council, so you're in safe hands.
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If you want to explore your options with experts who are not under pressure for sales targets, and will explain what's best for you, not us, make an enquiry and we'll answer your questions.
This website is part of Later Life Finance Ltd, FCA authorised for equity release lifetime mortgages under reference 959556. Make an enquiry with confidence and we'll help you decide your options.
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How Does Equity Release Work in 2023?
Trusted by 1000s UK homeowners to find your best mortgage solution
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The most common form of equity release is a lifetime mortgage, but which is the best solution for your specific needs?
If you feel overwhelmed by the amount of adverts about equity release- you’re not alone! Rest assured, we’re genuine experts who genuinely care about your best interests. We can provide access to everything you need to make an informed choice.
Equity release is regulated by the FCA, which means you need to take advice. This ensures you stay safe and don’t take out an unsuitable plan. We provide advice and a full broker service.
We’re here to help you explore all the options, and we’re also a member of the Equity Release Council, so you’re in safe hands.
We’re not a marketing website, which means you can make an enquiry without being pestered by multiple companies!
If you want to explore your options with experts who are not under pressure for sales targets, and will explain what’s best for you, not us, make an enquiry and we’ll answer your questions.
This website is part of Later Life Finance Ltd, FCA authorised for equity release lifetime mortgages under reference 959556. Make an enquiry with confidence and we’ll help you decide your options.
As later life mortgage experts with 40 years experience, it’s fair to say we’ve seen a few changes over the years! Equity release has evolved into a safe, flexible option.
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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We're Equity Release Experts!
Remortgaging To Release Equity
As later life mortgage experts with 40 years experience, it’s fair to say we’ve seen a few changes over the years! Equity release has evolved into a safe, flexible option.
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.
Equity Release FAQs
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
You need a solicitor and our experts can put you in touch with a reputable solicitor who will take care of the legal process. They ensure the funds are securely transacted to you and deal with the lenders solicitors for you.
The best providers consist of lenders offering the most flexible terms, such as voluntary repayments and fixed exit criteria. We can help you find the best provider for your requirements.
The downside to equity release is the interest can be compounded however you can also pay the interest to maintain control of the balance on the mortgage
Equity Release interest rates are fixed for life, depending on the amount of money required as a lump sum and also any reserve facility required. Request a quote for a personalised and detailed interest rate illustration.
The initial lump sum has a lifetime fixed interest rate which is agreed at the time of taking an equity release plan.
The reserve, also known as a drawdown facility is charged at the interest rate applicable at the time of borrowing the further funds.
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 Brokers for expert advice, & with 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.
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.
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. We have access to legal and general equity release adviser plans for full comparison of the whole market.
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.
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.
You could possibly reduce your current equity release interest rate as there are many competitive deals available now. Please contact expert@comparemyequity.co.uk for a personalised quotation
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.
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.