The Best Equity Release Interest Rates

 

The Best Equity Release Interest Rates & Deals In March 2024

Equity release schemes offer homeowners who are over the age of 55 a method to access the wealth tied up in their property, without having to sell or move out.

This article looks at equity release, including the types of schemes available, the process of obtaining one, and the considerations homeowners should make before going ahead.

The article will help you do the following:

  1. Understand the importance of considering equity release as a financial option.
  2. Learn about the key outcomes and decisions involved in choosing an equity release plan.
  3. Discover the main topics covered, such as the types of equity release schemes, current market trends, and the application process.
  4. Recognise the benefits of understanding these topics, including financial freedom and the potential to remain in your home while accessing its equity.
  5. Consider actions to take post-reading, such as consulting with an equity release adviser to explore your options further.

Key Takeaways & Learnings From This Page On The Best Equity Release Deals

Here are 7 key takeaways from this article:

  1. Equity release can provide a valuable source of income or a lump sum in retirement.  However, it is crucial to understand the long term impact on your estate and potential inheritance for your family.
  2. Lifetime mortgages and home reversion plans are the two main types of equity release schemes, each with their own unique features and benefits.
  3. The amount you can release depends on several factors, including your age, the value of your property, and the specific plan you choose.
  4. Interest rates on equity release plans can significantly affect the total amount owed over time, making it important to secure the best rate possible for your circumstances.
  5. Consulting with a specialist equity release adviser is recommended to ensure you choose the most suitable plan for your needs and to stay informed about the latest market trends and rates.
  6. Equity release schemes come with various safeguards, such as the no negative equity guarantee.  However, it is essential to consider the potential impact on your estate and eligibility for means-tested benefits.
  7. Before proceeding with equity release, consider all alternatives, such as downsizing or other forms of borrowing, to ensure it’s the right decision for your financial situation.

Topics that you will find covered on this page

Best Equity Release Rates In 2024

The best equity release rates, particularly for a lifetime mortgage, are generally higher than standard mortgage rates.

Typically, when it comes to equity release best deals, they have historically been between 3% and 7%. However, this is always dependant on interest rates at the time you want to take out a product, so the rates you get can be higher or lower.

The rate and plan you are offered are subject to your individual needs and circumstances and are subject to lender approval.

All the companies that offer equity release plans will be authorised and regulated by the Financial Conduct Authority , which will give you some confidence even if you have never heard of the provider.

The financial conduct authority is the body that ensures all providers operate fairly and within the rules that are set down.

As a further confidence factor, all the major providers are also members of the Equity Release Council , which is the industry body for the equity release sector in the UK.

There is a significant range of interest rates for equity release; therefore, you need to try to find the best rate for your circumstances. Also, many of the most valuable deals are not available through searching online.

Since the schemes are offered on a different basis than standard mortgages, they also provide additional guarantees and fallbacks, such as measures to prevent paying more in the event of a negative equity situation.

Current Equity Release Rates

The table below sets out some of UK equity release companies’ current equity release rates. Please note that these equity release mortgage rates may not always be available by the time you speak to an adviser.

Some of the Best Equity Release Interest Rates as of 11 March 2024

The table below shows you some of the best equity release rates, as of 24 February 2024, for lifetime mortgages from some of the leading equity release providers in the UK. 

Provider NameProduct NameInterest RateType of productOffers
Standard LifeHorizon 200 Drawdown5.37%FixedFree Valuation
Standard LifeHorizon 220 Drawdown5.38%FixedFree Valuation
More2LifeCapital Choice Ultra Lite Drawdown 15.51%FixedFree Valuation
No application fee
Scottish WidowsFR15.60%FixedCashback
Free Valuation
No application fee
Standard LifeHorizon 280 Drawdown5.65%FixedFree Valuation
Scottish WidowsFR25.67%FixedCashback
Free Valuation
No application fee
Legal & GeneralInterest Roll-Up 45.69%FixedFree Valuation
Legal & GeneralOptional Payment 45.69%FixedFree Valuation
Standard LifeHorizon 280 Drawdown Fee Free5.70%FixedFree Valuation
No application fee
Standard LifeHorizon 280 Lump Sum Fee Free5.70%FixedFree Valuation
No application fee

The equity release rates have been sourced by UK Care Guide from the Equity Release Supermarket website. These rates may have changed since this table was created and should be taken as indicative only. There may be other providers not listed on this table that could offer better deals.  In addition, the providers and products noted may not be right for your particular circumstances.  Therefore, they should only be taken as a guide, and we cannot guarantee their current accuracy. Please also note that we do not provide advice on or endorse any particular product listed here. The rate you are offered will depend on your individual circumstances and subject to lender approval. Therefore, we strongly recommend that you speak to an equity release adviser, who will be able to provide you with information on the latest rates that apply to you.

Speak To An Equity Release Specialist Today

Call Boon Brokers on 0333 567 1607 to discuss your equity release requirements and see what deals are available to you.

In the ever evolving landscape of financial solutions for retirees and upcoming retirees, equity release mortgage rates and equity release best deals have become pivotal in their decision making.

With the current equity release rates fluctuating, securing the best equity release rates is crucial for homeowners looking to optimise their financial strategy.

It’s advisable to compare equity release rates carefully to uncover the cheapest equity release options that align with your financial goals.

best equity release deals

Compare The Top Equity Release Providers

When considering equity release, it’s important to compare equity release providers.

When considering an equity release comparison, exploring the best equity release companies and best equity release plans is essential.

Equity release offers from the top providers can vary significantly, making an equity release comparison a vital step.

Comparing equity release schemes can highlight the best deals for equity release, ensuring you’re well informed about the best interest rates.

Here’s a look at some of the top equity release providers and advisors and what makes them stand out:

1 – Aviva Equity Release

Aviva is known for its flexible lifetime mortgage plans, offering competitive interest rates and the option for partial repayments without incurring early repayment charges. 

This flexibility can be particularly appealing for homeowners seeking a balance between accessing equity form their home and preserving as much inheritance for their family as possible.

2 – Legal & General

Legal & General offers a range of equity release products, including options with fixed early repayment charges and downsizing protection. 

Their plans are designed to suit various needs and situations, making them a good choice for those with specific requirements for their equity release plan.

3 – More2Life

More2Life focuses on tailored equity release solutions, with plans that consider your specific health and lifestyle when determining the amount you can release and the interest rate that you are offered. This can result in more favourable terms for those with health conditions or specific lifestyle choices, so it is worth considering.

4 – LV=

LV= offers a range of lifetime mortgages that include flexible drawdown options, which allow you to release equity, as and when you need it. This can help you manage the loan amount and potentially reduce the impact of compound interest over time.

5 – Canada Life

Canada Life provides a variety of equity release products, including plans that have inheritance protection built in. They also have the option to make voluntary payments.  

6 – Age Partnership

Established in 2006, Age Partnership provides tailored equity release advice on accessing tax-free cash from their home through lifetime mortgages or home reversion plans.

7 – Just

Just have been in the industry since 2004.

They provide both lifetime mortgages and home reversion plans, sometimes with no upfront fees or early repayment charges.

8 – Responsible Equity Release

Responsible Life offers a range of options, including interest-only lifetime mortgages and flexible drawdown plans.  These are usually tailored to meet your individual needs.

9 – Stonehaven

Stonehaven has over 20 years of experience in the industry. They provide advice and products to customers looking to release equity from their homes.

10 – Pure Retirement

Pure Retirement offers flexible retirement options such as drawdown plans, lump sum payments and lifetime mortgages.

11 – Hodge Lifetime

Specialising in lifetime mortgages and equity release plans, Hodge Lifetime offers a range of products with no early repayment fees.

By comparing these providers above, alongside others in the market, you can better understand the different features and options available in the home equity release market. 

We recommend that you discuss these options with a specialist equity release adviser, who can help you choose the provider and plan that best meets your needs and circumstances.

How to Compare Equity Release Options

Comparing equity release options is critical in finding the most suitable plan.

With numerous equity release schemes available, it’s essential to understand the nuances of each, including equity release mortgage rates and equity release best deals.

Utilising tools to compare equity release rates can shed light on the cheapest equity release options, ensuring you find a plan that offers value without compromising on quality. This process helps in identifying the best interest rates for equity release, making it easier to choose a plan that meets your financial goals

Use An Equity Release Calculator To Estimate How Much You Can Borrow

Every provider will have their own rules, but typically, the maximum amount of cash they will lend you is 30% to 60% of your property value. 

However, the amount you receive will depend on your age, and if you are older, you could receive more than 60% if you use a lifetime mortgage. However, this is usually only in exceptional circumstances.

You can use the equity release mortgage calculator below to estimate how much you can borrow.

Try Age Partnership’s equity release calculator and estimate how much money you could release from your property.

If you take out a product from Age Partnership, we will receive a fee for introducing you to them. This helps support the site and for us to produce more content.

UK Care Guide Research on How Retirees Are Considering Equity Release

Research in 2024 by the UK Care Guide has highlighted a growing trend among retirees considering equity release as an option to support their retirement finances.

The survey, which gathered insights from 1,803 individuals aged over 55, revealed that 40% of respondents are contemplating equity release to supplement their pension income.

This reflects an increasing recognition of equity release as a key strategy for addressing pension shortfalls and providing financial stability in later life.

Despite the interest in equity release, concerns regarding the costs associated with this option are evident. A significant portion of the survey participants, 42%, identified interest rates as their primary concern, pointing to apprehensions about the financial implications of choosing equity release.

Canada Life Research on How People Are Using Equity Release

The article from FTAdviser.com, published on February 28, 2024, reveals that the primary motivation for individuals to release equity from their homes is to clear an existing mortgage.  This is according to research conducted by Canada Life.

It was found that 41% of participants cited this reason, ahead of other motivations such as home improvements (28%), funding holidays (20%), covering day-to-day living expenses (17%), and consolidating unsecured debts (16%).

The report suggests that homeowners are increasingly leveraging the equity in their properties to manage financial obligations amidst the cost-of-living crisis many have seen through 2022, 2023, and 2024.

Despite the consistent popularity of clearing mortgages and funding home improvements, there was a noted decrease in compared to the previous year, with the proportion of people using equity release for mortgage repayments dropping from 49% in 2022 to 41% in 2023, and those funding home improvements from 32% to 28%.

Reflecting on the findings, Saq Hussain, Finance Editor at the UK Care Guide, commented, “The shift towards using equity release primarily for clearing mortgages shows a pragmatic approach among homeowners, especially in the face of economic uncertainties. This trend, mirroring the broader financial strategies individuals employ to navigate the cost-of-living crisis, signals a cautious but proactive financial planning landscape for the rest of 2024.

 

Interest Rates and Compound Interest On Equity Release

Equity release plans involve borrowing a sum of money that is then secured against your home. The amount you owe grows over time due to the interest that is charged on the loan. 

The interest rate on your home equity release plan determines how much interest you are charged on the amount that you borrow. These rates can be fixed or variable. In our experience, most people opt for a fixed rate to ensure stability in future repayments. However, each person’s circumstances are different.

Here’s a closer look at how interest rates work:

1 – Fixed Interest Rates

This means the interest rate remains the same for the scheme’s duration.

The interest rate is determined at the outset and won’t change over the course of the loan, so you know exactly how much will be added to the loan over time.

This is the more common type of interest rate for equity release products in the UK.

2 – Variable (or Adjustable) Interest Rate

This means the interest rate can change over time.

The rate is typically linked to an external benchmark, such as the Bank of England base rate , plus a fixed margin on top.

To protect consumers, there should be a “cap” or “ceiling” on how high this rate can go. So, if you go for a variable rate, we recommend that you check what this is.

The interest on equity release products is also compounded (see below), which means that interest is charged on the original amount borrowed, and any previous interest added on top. 

This can cause the amount owed to grow quickly over time, which is crucial for homeowners to understand before entering into an equity release agreement.

3 – The Effect of Compound Interest

Compound interest means that interest is charged on both the initial amount borrowed and any interest that has already been added to the loan. This can significantly increase the amount you owe over time.

For example, if you release £50,000 at an interest rate of 5% per annum, the first year’s interest would be £2,500, making the total owed £52,500. 

In the second year, interest is charged on the new total of £52,500, not just the original £50,000. Over many years, this compounding effect can lead to the amount owed growing substantially.

4 – Long-Term Financial Implications

The compound interest effect highlights the importance of considering the long-term financial implications of equity release. 

While no repayments are typically required during your lifetime, the amount owed can consume a significant portion of your property’s value, affecting the inheritance you may wish to leave.

5 – Mitigating the Impact of Compound Interest

Some equity release plans offer the option to make regular, ad-hoc payments or a voluntary repayment (in specific circumstances) and to manage the interest being accumulated. 

Making interest payments can help you control the growth of the loan amount, preserving more of your home’s value for a future inheritance for your family.

Equity Release Companies to Avoid

When considering equity release, choosing a reputable company is crucial to avoid potential scams and unfair deals. Therefore, thinking about which equity release companies to avoid is important.

Here are key points to keep in mind when choosing a provider:

1 – Avoid Non-Regulated Companies

Only deal with companies regulated by the Financial Conduct Authority (FCA), ensuring protection against misselling and unfair deals.

2 – Equity Release Council Membership

Opt for companies that are members of the Equity Release Council, as they adhere to standards that provide additional safeguards.

3 – Equity Release Council Provider Members

Some reputable members include More2Life, Pure Retirement, Canada Life, Just Retirement, One Family, Liverpool Victoria (LV=), Scottish Widows, Legal & General, Aviva, Standard Life, Hodge, Retirement Bridge Group, and Responsible Lending.

4 – Avoid Upfront Fees

Be cautious of lenders charging upfront fees, as these could lead to out-of-pocket expenses without any service in return.

5 – Types of Equity Release to Avoid

Generally, home reversion plans are less favourable compared to lifetime mortgages due to their cost and impact on inheritance. However, this does depend on your individual circumstances.

For more detailed information, you can refer to the Equity Release Council for a list of provider members and further guidance on choosing a reputable equity release company.

Choosing the Best Equity Release Scheme

Selecting the best equity release plan requires careful consideration of various factors, including equity release loan terms and finding the best rates.

The market offers a range of equity release schemes, each with its unique benefits and drawbacks.

It’s crucial to compare equity release schemes to find one that best suits your financial situation.

Engaging with reputable equity release companies can provide insights into the best deals for equity release, helping you make an informed decision.

Current Equity Release Market Trends

The equity release market is dynamic, with interest rates and product offerings changing regularly.

Staying informed about these changes is crucial for homeowners considering equity release. 

Latest Trends in Equity Release

The equity release market has seen significant changes in recent years, influenced by economic factors (such as the cost of living crisis), regulatory changes, and evolving consumer needs. 

Here’s a summary of the latest trends for 2024.

1 – Changing Interest Rates

Recent years have witnessed a gradual decrease, then an increase and now a small decrease in the average interest rates for equity release products. 

This trend makes equity release more attractive to homeowners by reducing the cost of borrowing against their homes. However, if interest rates go up again, it might become less attractive.

2 – Increased Product Flexibility

Lenders are introducing more flexible equity release products to meet the diverse needs of homeowners.

These include options for making voluntary payments, drawdown facilities that allow you to access funds as needed, and products with inheritance protection features.

3 – Growing Popularity Among Younger Homeowners

Equity release is becoming increasingly popular among homeowners in their mid-50s, driven by the need to manage debt, get through the cost of living crisis, support retirement planning, or assist family members financially.

Types of Equity Release Schemes

Equity release offers homeowners over the age of 55 a way to access the wealth tied up in their property without the need to sell or move out. 

There are two main types of equity release schemes: Lifetime Mortgages and Home Reversion Plans. Each scheme has its unique features, benefits, and considerations and you can read about both below.

Lifetime Mortgages

A Lifetime Mortgage is the most popular form of equity release. This scheme allows you to take out a loan secured against your home while retaining ownership. 

You do not have to make monthly repayments as the loan and accumulated interest are repaid from the sale of your property when you pass away or move into long-term care. 

The main types of Lifetime Mortgages available include:

1 – Drawdown Lifetime Mortgages

This option provides you with an initial lump sum, followed by the option to ‘drawdown’ further amounts as and when you need them. Interest is only charged on the amount released, making it a cost-effective choice for some.

2 – Interest-Only Lifetime Mortgages

With this type, you can choose to make monthly interest payments, which prevents the interest from rolling up. This option can help maintain the equity left in your home.

3 – Enhanced Lifetime Mortgages

If you have certain health conditions or lifestyle factors, you might qualify for an enhanced plan that offers more favourable terms, such as a higher loan amount or lower interest rate.

Here is a short video on how lifetime mortgages work.

Home Reversion Plans

Home Reversion involves selling a part or all of your home to a home reversion provider in exchange for a lump sum or regular payments. You have the right to continue living in the property rent free until you die or move into long-term care, under the condition that you maintain and insure your home. 

Unlike Lifetime Mortgages, Home Reversion Plans do not involve taking out a loan, so there is no interest to pay. However, it’s important to note that you will not receive the full market value for the portion of your home you sell.

Here is a short video on how Home Reversion Plans work.

Choosing Between a Lifetime Mortgage and Home Reversion

Deciding between a Lifetime Mortgage and a Home Reversion Plan depends on your personal circumstances, financial needs, and long-term goals. 

It’s crucial to seek independent advice from a qualified equity release adviser who can help you understand the features, risks, and benefits of each option. 

They can also assist you in comparing the market to find the most suitable equity release scheme for your situation.

The Process For Taking Out Equity Release

If you want to take out an equity release product, and are broadly happy with the interest rates on offer, here’s how the process typically works:

1 – Initial Consideration

The first step involves considering whether equity release is the right financial move for you. This includes evaluating your need for a cash lump sum or additional income and considering alternative options.

2 – Seeking Professional Advice

Once you’ve considered equity release as a viable option, the next step is to seek equity release advice from a qualified equity release adviser. The adviser will provide you with personalised advice, taking into account your financial situation, needs, and objectives.

3 – Choosing a Plan

Based on the advice received, you’ll choose the most suitable equity release plan. As per above, there are mainly two types: lifetime mortgages and home reversion plans, each with its own set of features, benefits, and considerations.

4 – Application Process

After selecting a plan, you’ll proceed with the application process. This involves filling out the necessary paperwork and providing details about your current property. The lender will then conduct a valuation to determine the property’s market value. The lender may also charge a fee for the valuation, so check with your advisor.

5 – Offer and Acceptance

If your application is approved, the lender will make an offer. This offer will detail the amount you can release, the interest rate, and any other terms and conditions. If you agree to the terms, you’ll accept the offer, and legal work will commence.

6 – Legal Work and Completion

The final step involves the legal work required to set up the equity release plan. This will be handled by a solicitor who specialises in equity release. Once all legal work is completed, the funds will be released to you, and the equity release plan will be in place.

By understanding each step, homeowners can make informed decisions about whether equity release is suitable for their financial needs.

What Can You Use The Money For?

You are free to use the money that you receive. 

The most popular options are:

1 – Top Up Your Pension

If your pension doesn’t quite give you enough to live on then this is a way to top it up

2 – A Holiday of Lifetime

You may decide to treat yourself and even your family to a holiday of a lifetime

3 – Pay For Long Term Care 

Paying for care tends to be one of the most popular options, as long-term care can be expensive, and the money in your house may be needed to pay for it. You can read more about this below.

4 – Modify your home

If you choose to receive care in the home, such as live-in care , you may need to modify your home to make it more accessible. 

For example, you may need to make the bathroom easier to get around or add a stairlift. This means that you can continue to live in your house rather than have to move into a care home.

Advantages and Disadvantages of Equity Release?

As is the case with all financial investments, equity release plans have a variety of pros and cons attached to them.

As a whole, there are a number of pros and cons of an equity release plan – but you’ll find a range of products, each with its own individual characteristics.

For this reason, it’s incredibly important to research your options thoroughly and identify where products may differ between providers and even based on your individual position financially and personally.

As this is often such an important decision, it is important that you do your research and make a list of all your equity release pros and cons.

Advantages of Equity Release

1 – Retain Ownership

You’ll retain ownership of your property for now – or at least a portion of it. This enables you to stay in your own home indefinitely – and leaves open a possibility that you could retain some equity from your home later. Note that you only continue owning your home with a lifetime mortgage.

2 – Spend your money

You are free to choose how to spend the money released from your property value. For example, you can use it to pay for care, gift cash sums to relatives, or make necessary improvements or modifications to your home.

3 – Negative Equity Guarantees

This protects you from paying more than you borrowed should the property value drop significantly. For an equity release provider to have their plan approved by the Equity Release Council, it has to have a ‘no negative equity guarantee’.

This basically means that when you use a Lifetime Mortgage, you will never owe more than the house is worth.

4 – Gift as an inheritance

Some providers also allow you to separately protect a portion of your property’s value to gift as an inheritance. Making partial repayments early may also be possible should your situation change.

Disdvantages of Equity Release

1 – Reduced inheritance

A natural consequence of taking out an equity release plan is reduced inheritance – as you’ll no longer be able to leave your property as a gift. However, this may be less of a concern for those considering later-life finance or care funding without much time to spare.

2 – Valuation less than market value

The amount you receive against your property is often offered at a valuation less than its market price, so you could be out of pocket if your circumstances change. You may also decide it is ideal to sell up, although this would mean you cannot stay at home.

3 – Impact on tax status

Enrolment can affect your tax status and entitlement to certain welfare payments and benefits. For this reason, it’s worth obtaining advice to get a clearer picture of how the change will affect you financially.

4 – Interest payments

Most schemes accrue interest – at fixed or variable rates. Thoroughly research providers and interest rates on offer before making a decision.

5 – Inflexible

They can be inflexible once they have been taken out – so if your circumstances are likely to change later down the line, this may not be the ideal thing for you. For example, if you use up funds released and run out of money earlier than expected or have to move into a residential care home, it may be difficult to work around your current solution.

A Case Study on Finding the Best Equity Release Interest Rates

Many individuals in the UK may find themselves in a situation similar to the one described in this case study, making it a relatable example for those considering equity release as a financial option. 

John, a 65-year-old retiree from Manchester, decided to look into equity release to supplement his pension and fund his dream of travelling around Europe.

Aware of the long-term impact of interest rates on the amount owed upon the sale of his home, John embarked on a search for the most favourable interest rates.

He consulted with a financial adviser specialising in equity release schemes, who gave him a detailed comparison of the different types of plans available on the market.

Through his research, John discovered that interest rates on equity release plans varied significantly between providers and that some offered more flexible repayment options than others.

He learned about the importance of looking for plans approved by the Equity Release Council, which ensured that he would never owe more than the value of his home. This research also highlighted the potential impact of compound interest on the amount he would eventually owe.

After several weeks of consideration and with the guidance of his adviser, John chose a plan that offered a competitive interest rate and the flexibility to make voluntary repayments without incurring early repayment charges.

This decision allowed him to access the funds he needed in later life, while keeping the future interest accumulation to a minimum. This suited his requirements.

John’s case study illustrates the importance of doing research and taking professional advice in finding the best equity release interest rates, ensuring that individuals can make informed decisions that align with their financial goals and circumstances.

Speak To An Equity Release Advisor Or Use the Equity Release Calculator Below To Estimate How Much You Can Borrow

The UK Care Guide works in partnership with Boon Brokers, one of the UKs leading equity release specialists.

You can contact them on 0333 567 1607 , or use the equity release calculator to estimate how much you can borrow.

Here is what Boon Brokers Offer

Whole of market access
Over a decade of experience
Great customer service

5 star client testimonials, on Trustpilot, about Boon Broker’s support and hands-on service

Call Boon Brokers on 0333 567 1607 to discuss your equity release requirements.

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All equity release and mortgage advice is provided by Boon Brokers Limited, which is authorised and regulated by the Financial Conduct Authority (FCA). The Financial Services Register number is 973757. 

If you take out a product with Boon Brokers, we will receive a fee for introducing you to them. Boon Brokers provides advice for free and without obligation.  By contacting Boon Brokers through us, the cost of any equity release product would be the same as if you had contacted them directly.  

The fee we receive is used to help keep this site operational and to produce new content.  

Think carefully before securing other debts against your home. Your home or property may be repossessed if you do not keep up repayments on your mortgage.

Meet the author

Saq Hussain

Saq is a financial expert, and is responsible for the day-to-day running of the UK Care Guide website.  Prior to taking on the operation of this site, Saq was a Director and the UK Head of DC Pensions, Benefits and Wellbeing at PwC.  Saq is also a part of the steering group at the Living Wage Foundation that has developed the UK’s National Living Pension standard.

Saq has regularly featured in the press, with examples including:

UK Care Guide is really proud to have been featured on some of the UK’s leading websites

More interesting articles about Equity Release

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In this article, we answer 22 important questions that you may have about equity release, including what it is, how it works and what the best interest rate deals are.

Alternatives to equity release

Equity Release is not for everyone.  In this article we look at the alternative options that you can consider if you need access to money in later life to pay for care, top up your pension etc.  

Lifetime Mortgages

A lifetime mortgage is the most popular type of equity release scheme, as it’s the most flexible and versatile option. The amount you receive depends on your property value. 

Pros & Cons of Equity Release

In recent years equity release has become a very popular option. This article looks at the pros and pitfalls of equity release and what you need to consider before taking it out.

How much can you borrow

How much you can borrow from equity release varies depending on your age and house value.  In this article we look at how much you could borrow from your  home.  

Drawndown Lifetime Mortgages

A drawdown mortgage is a type of equity release scheme, offering greater flexibility and freedom compared with traditional plans. In this article we explain all that you need to know.

Equity Release Calculator

An equity release calculator will give you a good indication of what you can borrow from your home.  This article explains how the calculator works and also shows you what you can receive.

what happens when you die

One of the big concerns that people have about equity release is what happens to their home and borrowings when they die.  In this article we explain everything you need to know.

Home Reversion Plans

A home reversion plan is primarily suited to individuals over 65 looking for a solution to their finances.  This article explains all you need to know.

Financial Promotions Sign-off

Where applicable, the adverts for Boon Brokers on this page have been signed off as a Financial Promotion by Boon Brokers Limited, to ensure that they are in compliance with Section 21 of FSMA. Boon Brokers Limited is authorised and regulated by the Financial Conduct Authority (FCA). The Financial Services Register number is 973757.

The Age Partnership equity release calculator has been approved and provided by Age Partnership. Age Partnership is a trading name of Age Partnership Limited, which is authorised and regulated by the Financial Conduct Authority. FCA registered number 425432.

Get fee-free equity release advice from Boon Brokers.  

Call : 0333 567 1607

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If you take out a product from Boon Brokers, we will receive a fee for introducing you to them.

Unlike most equity release advisors, Boon Brokers do not charge any fees! Have a free consultation to see how they can help.

You can speak to Boon Brokers on the number below and discuss your options

0333 567 1607

Use the equity release calculator and see how much money you could receive.

You can book a call back from for an equity release specialist, who can call you when it's conveniant

All equity release advice is provided by Boon Brokers Limited, which is authorised and regulated by the Financial Conduct Authority (FCA). The Financial Services Register number is 973757. 

 

If you take out a product with Boon Brokers, we will receive a fee for introducing you to them. Boon Brokers provides advice for free and without obligation.  By contacting Boon Brokers through us, the cost of any equity release product would be the same as if you had contacted them directly.  

The fee we receive is used to help keep this site operational and to produce new content.  

 

Think carefully before securing other debts against your home. Your home or property may be repossessed if you do not keep up repayments on your mortgage.

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