Equity Release FAQ…

Can I end up oweing more than my house is worth?

Not if you take out a plan covered by the SHIP guarantee (the very vast majority of all plans). Plans that are part of SHIP offer a no-negative equity guarantee – meaning you will never owe more than the value of your home – no matter what.

Can I repay the money I borrowed early?

Yes. In the main, lifetime mortgages can be repaid early. It is, however, important to get the timing right as the repayment of lifetime mortgages are linked to Gilt Rates. By this time, you will probably have developed a relationship with the adviser who managed your equity release application and should you choose to repay the money early they would be a wise first port of call. It is to be remembered that equity release is designed to be a long term loan and isn’t likely to be suitable if your intent at the beginning is to repay the loan early.


We at Responsible feel you probably have lots of questions about the whole equity release process. This is why we have published a free equity release guide that answers more questions similar to the ones above.

Enter your details to the right and we will post you your free guide to read at your leisure.

Other questions answered in our free guide.

Can equity release affect my state-benefits?


Repair Costs and Home Reversion Plans


More on Gilt Rates and Early Repayment Charges


The Right To Move Home After Equity Release


The Fundamental Importance of SHIP

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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 (https://register.fca.org.uk/) under reference 610205. Only if you choose to proceed and your case completes will Responsible Life Limited charge an advice fee, currently not exceeding £1,490. A lifetime mortgage may affect the value of your estate and your entitlement to means-tested state benefits. Our adviser will talk you through this and the setting up costs before you make any decision to proceed.

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