There are thousands of homeowners in the United Kingdom approaching retirement with concerns about their finances. As life-expectancy increases, the money you had set aside may not be enough to support you, and it's not always easy to find the money you need to pay for your retirement dreams.
Equity release can offer a solution.
Over the years, rising house prices mean many homeowners have built up substantial equity in their home - equity that can be turned into extra cash, without the need to downsize to a smaller property or take in a lodger.
With our lifetime mortgages, there are no monthly repayments to make. Instead the loan and any interest that has built up are paid off when the property is sold. This is usually after you have passed away or moved into long-term care.
If you're thinking about releasing equity from your home, it's vital you seek out independent advice from a qualified equity release specialist. They will be able to discuss what impact, if any, equity release could have on the size of your estate or your entitlement to means-tested benefits, both now and in the future.