Equity Release Schemes, Information and Advice. Try our Equity Release Calculator

Equity Release Advice and Free guide to Equity Release Schemes is provided by Retirement Solutions who are a leading firm of independent financial advisers (IFA) specialising in Equity Release Schemes. Try our Equity Release Calculator to see how much you can release. If you are looking for advice in London, Manchester, Birmingham, Scotland or any other areas of the UK then contact us first and put us to the test. You won't be disappointed.

If you are over age 55, preferably over age 60 and own your own home, Retirement Solutions could help you release some of your equity and provide a cash lump sum, a regular income or both to help you live the life you want. Equity Release is a complex area of financial planning and we pride ourselves on giving you the best equity release advice possible.

Equity Release Schemes

Equity release schemes can give you the retirement you deserve by allowing you to release some of the equity from your home.

Equity Release Advice

Background to releasing the value in your home

Assuming you have paid (or almost paid) off your mortgage, the current market value of your home is yours. All you need do is tap into it.

There are various ways you can unlock some of the market value (or equity) in your property. For example you could downsize to a smaller property or one of lower value – perhaps by moving to a different part of the UK where house prices are cheaper.

Downsizing will give you maximum value from your home, but there may be disadvantages such as the hassle, disruption and cost of moving. You may also be very attached to the area where you currently live.Although the value of any inheritance you leave could be reduced, the money could help fund your retirement, or pay for whatever you want - a holiday, home improvements, a new car... it's up to you.

Understanding Equity Release

If you feel that releasing equity from your property is right for you, there are two main types of scheme currently on the market. This section explains how each works, as well as their advantages and disadvantages.

Lifetime Mortgages

Currently the most popular type of equity release plan is a lifetime mortgage. You borrow a set amount of money against the value of your home, which can be paid in the form of one lump sum. Some plans even allow you to take the money as and when you need it, these are called drawdown lifetime mortgages – which may help minimise the amount of interest owed.

Home Reversion

A Home Reversion is where you sell all or a portion of your property to a provider, the amount you get is discounted as you will usually have the right to live in the property for the rest of your life

With both equity release schemes you can then spend the money released however you wish. The best way to think of it is as a long-term loan, secured against the value of your property. The loan is paid off when your home is sold. In the meantime, you and your partner continue to live in your home with no interest to pay during your lifetimes. Instead, ‘compound interest’ is added or ‘rolled up’ with the loan. When the time comes, the debt is paid off using the proceeds from the sale of the property. This is usually when the last survivor dies or moves into permanent long-term care. You can use an equity release calculator to find out how much you can release.

Lifetime mortgages are regulated by the Financial Services Authority (FSA).

Try our Equity Release Calculator

An equity release calculator can help you decide if equity release is right for you by telling you approximately how much you can borrow for you age and property value. The equity release calculator currently only covers lifetime mortgage products.

Get Equity Release Advice

To get equity release advice and find details of your local equity release adviser complete your details in our form below and we will pass them onto our local adviser. To get equity release advice simply enter your details into our form below.

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We believe specialist impartial equity release advice is essential when considering equity release thats why we offer a free initial consultation with one of our experienced equity release advisers with no obligation to proceed any further. We will then leave you to discuss your plans with your family and make up your own mind.

Retirement Solutions will search the UK's leading Lifetime Mortgages and Home Reversion providers, so you don't have to.