HomeEquity Release

EQUITY RELEASE

Unlock tax-free cash from your home and enjoy your retirement

Whether you’d like to repay your existing mortgage, make home improvements or supplement your finances, the money tied up in your home could help you achieve this.

Thousands of homeowners aged 55 and over may find themselves asset rich but short on readily accessible funds, with most of their wealth locked in the value of their home. Tapping into this property wealth could help you achieve your plans or simply make day to day life more enjoyable.

iFinance offer a free equity release calculator, which allows you to find out how much cash you may be able to release from your home.

This calculation is based on the age and property details you provide, but a full quotation appointment with an advisor will provide you with an accurate release amount based on your individual circumstances and needs.

When it comes to releasing cash from your home, advice is required before proceeding, and a personalised illustration will help you understand the features and risks.

Equity release may involve a home reversion plan or lifetime mortgage which is secured against your property and will reduce the value of your estate and impact funding long-term care.

Why choose iFinance equity release service?

  • Independent advice
  • Free quotations provided, illustrating exactly how equity release may work for you, without any obligation to proceed
  • Appointments available over-the-phone, via video call or even in the comfort of your own home – whichever you prefer
  • Access to exclusive plans, and plans from the whole of the market

LENDERS INCLUDE:

Plans from the whole of the market will be considered, the features mentioned and the amounts raised are subject to the lender’s criteria, terms and conditions. These may take into account age, health and lifestyle factors in order to provide you with an enhanced amount.

Equity release requires paying off any existing mortgage. Any money released, plus accrued interest, would be repaid upon death, or moving in to long-term care. Initial advice is provided for free and without obligation. Only if your case completes would an advice fee of £1,995 be payable. Other lender and solicitor fees may apply.

NEXT STEPS

Use our calculator to quickly see how much cash you could release from your home

Order your FREE guide to help you find out more

Discuss your options with your dedicated equity release adviser, and decide if equity release is right for you

Equity Release Calculator

Discover how much money you may be able to access through equity release with our free online equity release calculator. It’s quick and easy to use.

Why use the calculator?

  • Quickly see your results online
  • Fast and easy process
  • See how much you may be able to release

The amount you could release is based on the details you provide about the age of the youngest homeowner and your property value, plus recent data from our panel of lenders about the amount they are willing to lend. 

iFinance Equity Release Guide

This FREE guide takes you through:

  • What is equity release and who is it suitable for?
  • Why consider equity release?
  • The different types of mortgages available
  • How to make the most of your retirement
  • Things to consider
  • A ‘step-by-step’ of how to release cash from your home

Request your free guide

Find out all you need to know about funding your retirement by requesting your free, useful guide below.

SPEAK TO AN ADVISOR

Arrange a telephone call with one of our advisers who can answer any questions you might have.

Frequently asked questions:

Can I leave an inheritance for my family?

Yes.
Depending on the plan, you can guarantee a percentage of your home’s future value as an inheritance

Can I take out equity release if I have a remaining residential mortgage?

Yes.
When taking out equity release, it is a requirement that you use some of the money you receive to pay off any residential mortgage that you have against the property.

Can equity release be paid back early?

Yes.
With most plans there is no requirement to make monthly repayments. There are plans that may allow you to make voluntary interest payments subject to certain limits. Early repayment charges may apply above a set value. Our advisors will outline these to you prior to the plan being taken out.

Are there any restrictions on what I can do with the money I release?

You can use the money for a variety of reasons, but there are some restrictions your advisor will talk you through. It is a requirement of equity release that you repay any secured debt or outstanding mortgage with the funds released.

Will I still own my home?

The type of plan determines if you continue to own your home. Lifetime mortgages offer you the opportunity to maintain 100% ownership. Alternatively, a home reversion plan allows you to exchange the ownership of some or all of your property. You retain the right to stay in the property until you pass away or move into long term care.

Are the proceeds from an equity release plan taxed?

No.
The cash lump sum released from your home is tax free, however it may affect your tax position and have an effect on means tested benefits now or in the future. These factors will be discussed during your appointment, so your advisor can determine if equity release is your best option.

What happens if the value of my home falls?

All of the plans recommended through iFinance meet the Equity Release Council’s product standards, which means you receive a ‘no negative equity guarantee’. This guarantee means your estate will never owe more than your property is worth when it is sold.

iFinance is the trading name of Associated Newspapers Limited which is an introducer appointed representative of Age Partnership Limited 2200 Century Way, Thorpe Park, Leeds LS15 8ZB. Company registered in England and Wales No 5265969. VAT registration number 162 9355 92. Age Partnership Limited is authorised and regulated by the Financial Conduct Authority, FCA registered number 425432 and is trading as Age Partnership Plus.