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Experly compared by David Allan

Products Updated May 9, 2018

Equity Release

Get expert advice on Lifetime mortgages and Home Reversion Plans. Our award winning retirement experts can quickly find out if you’re eligible for equity release. Use the calculator to discover how much equity you can release today.

Calculator - Find out how much equity you could release today:

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Rated 5/ 5

Age Partnership Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
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  • CUSTOMER SERVICE

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Compares Equity
Release Marketplace

Proud to have provided over 10 years of award-winning retirement income services. Don't miss out on unlocking tax-free cash from your home. Apply with Age Partnership to use their free equity release calculator.

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Rated 5/ 5

Key Retirement

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Compares Equity
Release Marketplace

Our Lowest Rate Promise is designed to find you the lowest applicable equity release rate on the market. If we cannot beat or match the rate from another provider we will pay you £500!

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Rated 4/ 5

Aviva

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Equity Release
& Lifetime Mortgages

Equity release is a way of supporting yourself later in life by unlocking tax-free cash from the value of your home, without having to move out. Request a quote today via our approved advisors

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Rated 4/ 5

Hodge Lifetime

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Equity Release
& Lifetime Mortgages

Hodge Lifetime launched the first equity release plan in 1965, and is the longest established equity release provider in the UK. Its products are provided by Julian Hodge Bank Limited. The 55+ Mortgage has been designed specifically with the older borrower in mind.

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Rated 4/ 5

Legal & General

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Equity Release
& Lifetime Mortgages

A Legal & General Lifetime Mortgage allows homeowners who are over 55 and have a property worth at least £100,000 (£150,000 for ex-council properties) to release cash from their home.

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Rated 4/ 5

Bath Building Society

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Equity Release
& Lifetime Mortgages

Our Retirement Mortgages are aimed to meet the needs of older borrowers who are either looking to release equity, remortgage with us because your current lender has an age limit or move home. The Society can lend a minimum of £50,000 and up to a maximum of £200,000.

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Rated 4/ 5

One Family

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Equity Release
& Lifetime Mortgages

OneFamily Lifetime Mortgages enable you to borrow a one-off lump sum, and then choose whether you want to make monthly interest payments, a more flexible arrangement of one-off voluntary payments, or no payments at all.

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Rated 4/ 5

Pure Retirement

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Equity Release
& Lifetime Mortgages

Pure Retirement was founded on the belief that everyone deserves to enjoy their later years. As recent winners of the Moneyfacts Age award for Equity Release Lender of the Year, they provide a simple and straightforward solution for accessing the value tied up in your home.

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Rated 4/ 5

Liverpool Victoria

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Equity Release
& Lifetime Mortgages

Equity release from LV lets you release tax-free cash from your home, without having to move, which you can then spend on your garden or home, on a holiday, to treat family or friends or to make your retirement more comfortable.

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Rated 4/ 5

Prudential

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Equity Release
& Lifetime Mortgages

Equity release is a way of supporting yourself later in life by unlocking tax-free cash from the value of your home, without having to move out. Request a quote today via our approved advisors.

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Rated 4/ 5

Retirement Advantage

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Equity Release
& Lifetime Mortgages

As part of Canada Life, Retirement Advantage has more capability than ever before to help customers feel better equipped to make the most of their retirement. Request a quote via our approved advisors

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Rated 4/ 5

More 2 Life

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Equity Release
& Lifetime Mortgages

more 2 life provides a wide range of lending solutions for the over 55s. They work exclusively with qualified advisers and their lifetime mortgage plans help customers release cash from their homes to help deliver a more comfortable and flexible retirement.

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Rated 4/ 5

Just Retirement

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Lifetime Mortgages
Home Reversion Schemes

There are two main types of equity release product: lifetime mortgages, which are mortgages that are secured against your home; and home reversion plans, where you sell all or part of your property to a reversion company in exchange for money. Request a quote via our approved advisors

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Rated 4/ 5

Bridgewater

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Home Reversion Schemes

Bridgewater is a multi award-winning specialist home reversion provider. They offer a safe and secure solution for homeowners looking to realise equity tied up in their property.

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Rated 4/ 5

Retirement Plus

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Home Reversion Schemes

Retirement Plus usually offers a range of home reversion and equity release plans to homeowners who are aged 65 and over

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Rated 4/ 5

Canada Life

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Equity Release
& Lifetime Mortgages

Equity release is a way of supporting yourself later in life by unlocking tax-free cash from the value of your home, without having to move out. Request a quote today via our approved advisors

 

FAQ's

What is equity release and how does it work?

The first thing you need to consider is that equity release is only open to homeowners who are over the age of 55. The scheme allows you release equity from your home without the benefit of having to make any monthly repayments and with the benefit of still being able to live in your home. Equity release schemes are a safe and protected way to realise the wealth and equity tied up in your home and provide a welcome solution for many who wish to use equity release as part of their pension planning.

What schemes are available?

The 2 types of equity release schemes available are home reversion plans and lifetime mortgages. Both of these products are regulated by the Financial Conduct Authority, and therefore can only be arranged and advised upon by a regulated financial or equity release advisor.

What is a lifetime mortgage?

A lifetime mortgage is a type of mortgage you take out whereby there is no requirement for you to make repayments like a conventional standard mortgage. With a lifetime mortgage the interest and payments are rolled up and are paid out of your estate when you die or go into long term care such as a care or nursing home.

With a lifetime mortgage you retain full control and ownership of your home and if you are a couple both of you are entitled to live in your home until the last person dies or moves into full time care. This gives you the security and peace of mind that your home will be yours to live in as long as it remains your main residence.

With a lifetime mortgage you can take a lump sum payment or regular smaller payments (see: drawdown lifetime mortgages). With this type of product you can also change and increase the amount of equity you wish to withdraw and this can be arranged with your scheme provider up to a maximum limit.

Read more about lifetime mortgages.

What are protected lifetime mortgages

A protected lifetime mortgage means that you can protect some of the value of your property so that you are able to live an inheritance to your children, family or anyone you wish. This gives you the benefit of enjoying the financial rewards of equity release while at same time being able to leave an inheritance to your loved ones.

Read more about protected lifetime mortgages

Whats a home reversion plan?

Home reversion plans work differently to a lifetime mortgage. With a home reversion plan you actually surrender a percentage of your home in return for a cash lump sum amount today or regular payments for a period of time. Unlike a loan or remortgage there are no upfront repayments to make or interest charges on the lump sum you receive.

How much money can I receive for my homes equity?

The amount you will be able to receive will vary of a range of factors such as your age, your health condition and the value of your property. In most cases you can release between 25% and 100% of your home’s value as a one of cash sum or as regular payments over a period of time. Our equity release experts will be able to provide you with an accurate quote and full details of the costs of the plan and how it works in further detail.

With a home reversion plan you can continue to treat and live in your home as you would have done normally. The plan provider will grant you a lifetime lease which will guarantee that you can continue to live in your home rent free for the rest of your life as long it remains your main residence. At the end of the scheme your property will be sold and the sale proceeds will be divided as per the ownership percentage split the scheme arrangement.

What are the tax implications to equity release?

Any tax implications will very much depend and very from one person to the next. Our equity release experts will be able to full inform you of any implications and explain in full the advantages and disadvantages of taking out equity release. Your advisor will be able to assess your application and go through any questions you may have.

Will equity release affect any of my benefit entitlements?

When done correctly there should be no implications regarding any benefits you may receive. However an equity release expert will fully assess your situation and explain and discuss with you any implications taking out an equity release scheme may have on your benefits entitlement.

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