Learn about equity release

Equity release lets you unlock cash from your home without having to move out. There are two main types. One type is a lifetime mortgage, which is a long term loan secured against the value of your home. The other type is a home reversion plan, where you sell all or part of your home to a provider for less than its market value in exchange for a tax-free lump sum or regular income, while continuing to live there rent-free. The type of equity release we offer is a lifetime mortgage, which is the most common form of equity release. We do not offer home reversion plans.

Our lifetime mortgage is available to UK homeowners aged 55 and over. You’d borrow a cash lump sum, but there are no monthly payments. Instead, interest builds up for as long as you have the mortgage and is charged on the total amount borrowed and the interest already added. This quickly increases the amount you owe. The loan and interest are repaid, usually from the sale of your home, when you (and your partner, if you've taken it out jointly) pass away or go into long term care, subject to our terms and conditions. Taking a lifetime mortgage will reduce the amount of inheritance you can leave, and may affect your tax position and eligibility for certain welfare benefits.