What is Equity and Equity Release?
Equity is the term for the amount of money you have tied up in your property. Equity is calculated from the current value of your property less any mortgages or loans you have secured on it.
Equity Release is a way of unlocking some of the capital you have tied up in your property using Equity Release plans to provide either a cash lump sum, a regular income, or a mixture of both options.
The equity you release from your property is already yours so there is no tax to pay on any money taken. Most importantly, you still have the right to remain in your property for the rest of your life, or until you want to move out.
How much equity you can release depends on
- How old you are
- How much your property is worth
- What type of plan you choose
The different plans are explained under the Equity Release Schemes section of the Expert Equity Release website
Equity Release includes Home Reversion plans and Lifetime mortgages. To understand the features and risks ask for a personalised illustration.
For Equity Release advice you can choose how we are paid, pay a fee, usually £1150 and we will rebate the commission, or choose to pay a lower fee, typically £595, and we will receive commission from the provider.
