Equity Release Schemes

In the UK equity release schemes are regulated by the Financial Services authority and this means that anybody who gives advice in this area has to have a certain level of qualifications. This helps protect anyone who purchases an equity release scheme.

There are two main types of equity release schemes and these are home reversion plans where you sell all or a fraction of your home and lifetime mortgages where you the equity release lender takes a security of a mortgage charge on your property.

How much can you release from an Equity Release Scheme?

The amount you can release depends on your proprty value and your age, also differs from lifetime mortgage and home reversion, generally a home reversion equity release scheme will release more.

There are now also drawdown schemes where you only need to release what you need now and the lender arranges a facilty that you can drawdown from

Use the equity release calculator to find out how much an equity release scheme will let you have.

The amount shown by the calculator is indicative and you should get a key facts illustration from the equity release lender