See how much money you could unlock from your home
Equity release is a way of turning some of the value of your home into tax-free cash. We offer a type of equity release called a lifetime mortgage. It's a long-term loan secured on your home you can apply for once you reach 55. You’ll stay in your home and remain the owner.
You might choose equity release for any number of reasons. Improvements to your home. To give a helping hand to your loved ones. A once-in-a-lifetime adventure. Or to stretch your retirement income a little further. Just remember that taking equity release will mean you can leave less inheritance behind. It may also affect your tax position and whether you can claim some means-tested benefits.
The loan and interest are repaid in full, usually from the sale of your home when you (and your partner, for a joint lifetime mortgage) pass away or go into long-term care, subject to our terms and conditions. Thanks to our no negative equity guarantee you’ll never need to pay back more than the value of your home, as long as it’s sold for the best price reasonably achievable.
Getting a sense of how much you could borrow is as easy as choosing your age, the type of home you live in and your home’s worth – our calculator will do the rest.
Equity release calculator
Get an estimate of how much tax-free cash you could unlock from your home’s value. It takes three steps and a couple of minutes to complete, with no obligation to do anything afterwards.
You could be eligible if:
- You own a home worth over £75,000 in the UK, excluding the Isle of Man and the Channel Islands
- The age of the youngest homeowner is 55 or over
- You need to borrow £15,000 or more.
Why choose equity release with us?
- We’re an award-winning lender with an award-winning lifetime mortgage
- No separate advice fee to arrange expert advice through us (we’ll pay the adviser commission when you get the loan)
- No negative equity guarantee – never owe more than your home’s value, as long as it’s sold for the best price it can reasonably get
- Safeguard a percentage of your home's value to leave as an inheritance – it just means you can borrow less.
Equity release calculator Step 1 of 3
Important things to keep in mind about equity release
Taking equity release is a huge financial commitment. Here are some extra details to check if you’re eligible to take it out with us – and a few key points you’ll need to think about before you decide to go ahead.
You're eligible if:
- You're aged 55 or older (for joint applications, all applicants must be over 55)
- You own a home within the UK (excluding the Isle of Man and the Channel Islands) worth £75,000 or more
- You need to borrow at least £15,000
- You live permanently in your home. The property must be your main residence and shouldn't be unoccupied for more than six months at a time
- You're mortgage-free, or have only a small mortgage on your property. Any outstanding mortgage debt must be paid off from the money you receive.
What you need to remember:
- It will reduce the amount of inheritance you'll leave behind
- It may affect your tax position and welfare benefits you’re entitled to
- Interest will be added yearly on the amount you've borrowed and any interest already added – it's known as compound interest, which will quickly increase the amount you owe
- It's a lifetime commitment – if you decide to end the loan sooner, you may need to pay a substantial early repayment charge
- You must speak to an equity release adviser first who will fully explain the benefits, costs and risks. There's no separate advice fee when you arrange advice through us. We'll make a commission payment to the adviser upon completion of your loan. You can also get in touch with your own adviser or find one through Unbiased. You’ll be charged for any advice given.
Safeguard a proportion of your home’s value to leave behind
With our lifetime mortgage, it’s simple to leave something for those you care about most. You can set aside a percentage of what your home is worth, and this will always stay separate from anything you need to pay back.
For an idea of how this works, take off the amount you’d like to leave as an inheritance from your property value on the calculator. You can see it reduces how much you can borrow. For a more carefully tailored set of numbers, have a chat with our experts who will give you a personalised illustration.
Talk to an expert about a lifetime mortgage
If you want to be sure you're eligible for equity release with us, know the exact amount you could borrow or have any questions at all, there are two ways you can get in touch.
Call us when you're ready
Monday to Friday: 9:00am - 8:00pm
Saturday: 10:00am - 5:00pm
Sunday and Bank Holidays: Closed
Ask us to call you
Fill in a few details, and our experts will give you a call back within 3 working days at the time of day you prefer.
Your call will be answered by a financial advice firm that we've chosen specially to give information and advice on our lifetime mortgage. All the firms we've chosen are authorised and regulated by the Financial Conduct Authority.^
^For our joint protection, telephone calls may be recorded or monitored and will be saved for a minimum of 5 years. Calls to 0800 or 0808 numbers from UK landlines and mobiles are free. Our opening hours may be different depending on which team you need to speak to.
Get to grips with equity release
Take a closer look at our lifetime mortgage to see if it may be suitable for you.
Read more about the equity release we offer whenever you have a quiet moment. We’ve put together a free guide packed with information and answers to the questions people most often ask. You can download an online version right away or we’ll post a copy to your home.
Equity release articles
Taking out equity release isn't a quick decision. We've put together plenty more detail to help you and your family decide if it's the right path for you.