Free Equity Release Calculator
How Equity Release Works
Equity Release allows homeowners aged 55 and over to unlock tax-free cash from their home without the need to sell or downsize.
The money you release is tax-free and with a lifetime mortgage, you still own your own home. You can choose to release the cash as one lump sum or take smaller amounts over time with a drawdown lifetime mortgage.
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The Equity Release Process
- Are you eligible? If you are a homeowner and aged 55 or over then yes you are likely to be eligible for equity release. You must live in your property and your property must be worth at least £70,000. If you have a current mortgage you must pay off the amount outstanding with the funds you release.
- Is it the right option for me? Retirement Solutions offer free impartial and independent consultation. You can talk with one of our expert advisers over the phone or face to face in the comfort of your own home.
- We will answer any questions you have on Equity Release.
- We will review your individual circumstances and personal goals, allowing you to decide if equity release suits your needs.
- To make sure we get the best deal for you we search the whole of the Equity Release market to find the product that meets your needs.
- Your application If you decide to go ahead, we will manage your application from start to finish. You will need to instruct a solicitor and your advisor can help with this. They will liaise with your lender and your solicitor keeping you updated on the progress of your application throughout.
- When will I receive the funds? We will endeavour to make sure the process is as efficient as possible, aiming to have the funds cleared for you typically within 6 to 8 weeks.
If at any time before your plan completes you wish to cancel, you are free to do so and this will not incur any fee from us. Call now to book your free, no-obligation appointment on 0800 043 0725.
Equity release may involve a home reversion plan or lifetime mortgage which is secured against your property. To understand the features and risks; ask for a personalised illustration.
Find out how much you could release FREE Equity Release Calculator