The amount you could release is dependent on both your property value and where you live which is why we need to ask this information.
This is an indicative figure only and the actual amount you could borrow will depend on your individual circumstances. The release amount assumes you have no secured borrowing against the property. If you have secured borrowing against the property then this must be repaid in full using the amount released (if available), by other means or a combination of the two.
Equity Release allows you to unlock the equity in your home without having to sell up and move out of your house so that you can have money to spend on whatever you want or need. An equity release plan is a potential retirement planning option for homeowners.
Equity Release could affect your family’s inheritance as the amount you borrow will need to be repaid after you die, including the accumulated interest.
If you decide to place the money you release into a savings account, secure a regular income, or make an investment, tax may then be payable on any interest, income or gains you receive.Fees will also be charged if you use an independent financial adviser in addition to solicitor fees for any legal work that is required.