Can I use my home to help fund my retirement?

Whether you’re already retired, or are planning to retire before too long, you may be considering ways to generate more cash to enjoy the retirement you deserve.

Traditionally, people tend to think about pensions or savings as their most important options to pay for the lifestyle they’re looking for in retirement. But your home could be an important element of your retirement planning too.

If you’ve lived in your home for a while, it could be worth more than you originally paid. There are ways in which you may be able to turn some of that value into cash to help you do the things you want to do…


Many people find that their original family home is too large for them once their children have moved away. If you’re prepared to move, you could consider downsizing. This might mean buying a smaller home after selling your own, or possibly renting somewhere to live.

Letting out a room in your house

This is another alternative for people who find they have room to spare. Finding a lodger could be a way to generate some additional income.

Equity release

Equity release could help you to access cash locked up in the value of your home without moving. The type of equity release offered by Aviva is a lifetime mortgage – a long-term loan secured on your property, with no repayments to be made before the end of the plan. The loan and any interest on it is repaid in full, usually from the sale of your property, when you die or go into long-term care, subject to our terms and conditions. A lifetime mortgage charges interest on the total amount of the loan including the interest that has already accumulated, so the amount owed will quickly increase.

To get an idea how much you may be able to release, you could use our simple online Equity Release Calculator.

Am I eligible?

This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.

If you find you are eligible for equity release, there’s still a lot to consider before you make a decision.

  • We’d encourage you to discuss your decision with your family as taking out equity release will reduce any inheritance you may leave in the future.
  • You will also need to speak with a qualified financial adviser, someone who can explain the features of the product as well as other things you need to think about, such as the potential impact your decision may have upon your tax position and eligibility for welfare benefits. If you don’t already have a financial adviser, Aviva can help put you in touch with a selected specialist adviser. They won’t be employed by Aviva but will only be able to discuss our products. You'll need to discuss the plan with a solicitor too.

Visit us at Aviva Equity Release for more information.

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