Your equity release questions answered
Most people considering over 55 equity release schemes are first timers, so we’ve pulled together the answers to the most frequently asked questions to help you understand how it works.
- What is equity release?
- How are over 55 equity release schemes regulated?
- Who can apply for equity release?
- Does eligibility for over 55 equity release schemes depend upon my income or health?
- How much money can I release?
- What can I use equity release for?
- What are the costs of equity release?
- Will my home still belong to me?
- Can I alter my home if I have an equity release mortgage?
- Can I move home if I have equity release?
- Could I lose my home?
- Can I make interest payments or reduce the debt – just like with a mortgage?
- Can I take more money later?
- Will equity release affect my pension, state benefits or tax?
- Can I end the equity release scheme early?
- Will there be anything left for my family to inherit?
- What happens on my death?
- How long does an over 55 equity release application take?
- Which lenders provide equity release schemes?
- What is the Equity Release Council?
Ask us your over 55 equity release question
Ask us any question about over 55 equity release schemes and one of our advisers will get back to you.
‘I felt hugely supported and understood throughout the process, which – given the circumstances of ‘having to’ secure the mortgage or sell – was hugely important.’CM, successful equity release applicant, Devizes, Wiltshire