How Do I Release Equity From My Home?

If you feel you may benefit from some extra funds during your retirement, then there are a few things you need to know about how to release equity from your home. Dependant on the plan you opt for, interest rates can vary. If, for instance, you would like to borrow the maximum amount available to you the interest rate you are offered may be slightly higher than if you were to take the money steadily in a drawdown facility.

 

Also, as you get older plans are available from more lenders and more money is available as a percentage of your property value. There are many questions that you may have about equity release so a good first step as to how to release equity would be to read our Equity Release FAQ.

Then, a wise move would be to order one of our free, posted, full colour guides to equity release. This answers more questions than the FAQ does and, more importantly, can be read at your leisure and shared with others involved in the decision making process.

Once you have learned more on equity release, and if you decide that equity release is the right move for you, an Independent Financial Adviser can walk you through a personalised illustration, explaining the financial details in a lot more depth, giving you equity release quotes and Responsible advice.

The next step would be to have your house valued and to select a solicitor of your choice to handle the paperwork. Once all parties are happy with the paperwork, the plan can then complete and the payment due to you will be made. You will then either enjoy your lump sumor your regular drawdown payments without having to make any repayments.

 

By the way, we wouldn’t be The Responsible if we didn’t recommend advisers who only charge you for their advice if you go ahead with the plan!

Equity Release Articles

  • Are You Considering Downsizing to Release Equity?
  • Being the ‘Bank of Mum and Dad’
  • Compare Equity Release Schemes
  • Defy the SPA Extension with an Equity Release Plan
  • Do High Street Banks such as TSB, Natwest and Santander etc., do Equity Release?
  • House Price Increase; Great News for Lifetime Mortgagers, Bad News for First Time Buyer
  • How Do I Release Equity From My Home?
  • How does Equity Release work?
  • How much equity can I release?
  • The Responsible Equity Release Jargon Buster
  • What are the Pros and Cons of Equity Release?
  • What is a Lifetime Mortgage?
  • Equity Release Calculator

    + Tell us about your property

    £

    + Tell us about yourself

    As well as seeing figures, you'll be able to download the Responsible Guide To Equity Release.




    Responsible For Your Comfortable Retirement.
    Responsible Equity Release is a trading style of Responsible Life Limited. Responsible Life Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (http://www.fsa.gov.uk/register/home.do) under reference 610205.

    In using this website I give express consent to Responsible Life Limited to call me on the number provided from time to time. Calls may be recorded for training and quality purposes.

    This is a Lifetime mortgage which may reduce the value of your estate and may affect your entitlement to state benefits. To understand the features and risks ask for a Personalised illustration.

    Any information contained herein is a personal opinion of the author and should not be considered to be advice of any kind. Inheritance Tax planning is not regulated by the FCA. Think carefully before securing other debts against your home. By consolidating your debts into a mortgage you may be required to pay more over the entire term than you would with your existing debt.

    Only if you choose to proceed and your case completes will Responsible Life Limited charge an advice fee, currently not exceeding £1,295. Our adviser will talk through the setting up costs of a lifetime mortgage before you make any decision to proceed.