Unlock tax-free cash from your home with equity release. It is our belief that every client approaching retirement or already retired should be able to make the most of their income, enjoying a high quality of life and total peace of mind.
An equity release/lifetime mortgage allows you to release a lump sum of cash from the value of your property. There are no regular repayments to make as the amount is repaid from the money made when the property is sold. Generally, this is when you pass away, move into long-term care, or permanently leave the property. Some plans allow the flexibility to make repayments within limit should you wish to.
This is similar to the standard lifetime mortgage. However, with a drawdown lifetime mortgage, you can access your money with more flexibility. Rather than simply receiving a one-off lump sum, you have the option to release your cash over time, as and when you need it. Because you only pay interest on the cash that you have taken, these plans often prove to be more cost effective and, at the same time, provide peace of mind that there are funds for future needs should they arise.
This is similar to a standard lifetime mortgage. However, you can choose to make repayments of the interest charged, thereby maintaining the debt at the original amount and reducing the overall cost and impact on the value of your estate.