There are two main types, and a few ways to take the money.
The most common type. You borrow against your home and keep owning it. Interest is usually added to the loan and repaid when you die or move into long-term care.
You sell part or all of your home to a provider for less than it's worth, and live there rent-free for life.
Take the money in one go, or take some now and keep a reserve to draw on later, so interest builds up more slowly.
Many plans let you pay off some of the interest or loan each year without a charge, to keep the cost down.
We talk about what you'd like the money for and whether there are other options, such as downsizing.
We encourage you to involve your family, as it affects what you leave behind.
If it's right for you, we recommend a plan and give you a personalised illustration of the costs.
Your own solicitor explains the plan before you sign, as the Equity Release Council's standards require.
The youngest homeowner usually needs to be at least 55 for a lifetime mortgage.
Plans meeting the Equity Release Council's standards guarantee you'll never owe more than your home is worth.
You can live in your home for the rest of your life, and usually move to a suitable new home and take the plan with you.
It can help pay for home improvements, clear a mortgage, help family or top up your income. But downsizing, other borrowing or using savings may suit you better. We'll talk through every option.
The loan and interest are repaid from your home when it's sold. Some plans let you protect part of your home's value as an inheritance.
Most lifetime mortgages can move with you to a new home, as long as the new home is acceptable to the provider.
Many people use part of the money to clear what's left on their mortgage.
Pop your details in and we'll call you back. The first chat is free, with no obligation.
The legal bit
Your home may be repossessed if you do not keep up repayments on your mortgage.
We don't charge a fee for mortgage advice.
Bridging, will writing, equity release and conveyancing are provided through our network of approved business partners.
There are two main types, and a few ways to take the money.
The most common type. You borrow against your home and keep owning it. Interest is usually added to the loan and repaid when you die or move into long-term care.
You sell part or all of your home to a provider for less than it's worth, and live there rent-free for life.
Take the money in one go, or take some now and keep a reserve to draw on later, so interest builds up more slowly.
Many plans let you pay off some of the interest or loan each year without a charge, to keep the cost down.
We talk about what you'd like the money for and whether there are other options, such as downsizing.
We encourage you to involve your family, as it affects what you leave behind.
If it's right for you, we recommend a plan and give you a personalised illustration of the costs.
Your own solicitor explains the plan before you sign, as the Equity Release Council's standards require.
The youngest homeowner usually needs to be at least 55 for a lifetime mortgage.
Plans meeting the Equity Release Council's standards guarantee you'll never owe more than your home is worth.
You can live in your home for the rest of your life, and usually move to a suitable new home and take the plan with you.
It can help pay for home improvements, clear a mortgage, help family or top up your income. But downsizing, other borrowing or using savings may suit you better. We'll talk through every option.
The loan and interest are repaid from your home when it's sold. Some plans let you protect part of your home's value as an inheritance.
Most lifetime mortgages can move with you to a new home, as long as the new home is acceptable to the provider.
Many people use part of the money to clear what's left on their mortgage.
Pop your details in and we'll call you back. The first chat is free, with no obligation.
The legal bit
Your home may be repossessed if you do not keep up repayments on your mortgage.
We don't charge a fee for mortgage advice.
Bridging, will writing, equity release and conveyancing are provided through our network of approved business partners.