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Equity Release

Learn More About Equity Release Options

Equity Release mortgages are not like residential mortgages. They help you secure a loan against the value of your property. In these guides we outline what makes them different, the eligibility criteria and help you decide if it’s an avenue you would like to pursue. It’s a way to free up money in your later years, but with many factors influencing the loan, it’s good to learn as much as you can from qualified mortgage professionals.

Posted On: January 21, 2022
Updated On: January 16, 2023

How To Release Equity From Your Home

Thinking of securing a loan against the value of your home? Whether you want to support your family, fund your retirement or treat yourself to a once in a lifetime world cruise, if your property is worth a lot of money you can leverage this monetary value without needing to leave your home. If you think equity release could be the right course of action for you, then you’ll want to know how to release equity from your home. Find out more in our guide.

Find out if you’re eligible for equity release

Equity release is designed for over 55 year olds and can be a great way to acquire tax-free cash in later life. You can access the loan as a lump sum or withdraw in instalments. You only pay interest on the money that you take out. As with all mortgages, there are eligibility criteria which you should familiarise yourself with. This will help you decide if equity release is right for you. Don’t match all the criteria, but still want to release equity? You can always speak to a mortgage advisor. They will be able to discuss your options and give relevant financial advice.

Speak to a mortgage advisor

Finding a mortgage advisor who specialises in equity release mortgages can be really helpful. They will be able to discuss the finer details so that you’re aware of the terms and conditions. They will also be able to help you budget.

Calculate the loan value

Importantly, a mortgage advisor can calculate the likely value of the loan. This is usually based on the value of the property minus any outstanding mortgage. A mortgage house valuation may be necessary to help lenders calculate the current value of the property. Once you have an estimate of how much equity you’d be able to release, you can decide whether you want to pursue this type of mortgage. If you do, then it’s time to shop around for the right equity release plan.

Search the mortgage market

Your two main options for equity release will include the lifetime mortgage and the home reversion plan*. A lifetime mortgage allows you to take out a loan secured against the value of your home. A mortgage advisor can help you work out which option is best for you. A broker can search the market for the best rates and mortgage terms.

Book your equity release consultation today

At Agentis, we have equity release mortgage experts with years of experience securing the right plan for older homeowners. Speak to us today to arrange your initial consultation.

*A lifetime mortgage is a long term commitment which could accumulate interest and is secured against your home. Equity release is not right for everyone and may reduce the value of your estate.

*Please note that Agentis is unable to provide advice on home reversion plans.