Who can apply for equity release?
If you meet the following criteria, you normally qualify for equity release schemes:
- You need to be at least 55 (and your partner too)
- You must own your home, either freehold or with 75 years or more remaining on your lease.
- It helps if your property is not of unusual construction.
- You must repay any currently outstanding mortgage from the cash released.
Neither your income nor your state of health will have a detrimental effect on your eligibility for an over 55 equity release scheme.
If you’re not sure if you qualify, get in touch and we’ll be happy to advise you.
‘Great service! We were kept up to date on the whole process, which went through smoothly. I would recommend 55+ Equity Release without a doubt.’E Walker, successful over 55 equity release scheme applicant, Chelmsford, Essex