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Equity Release

Unlock the value of your home with equity release and enjoy financial freedom in your retirement.

At Deedle, we understand the importance of securing your future and making the most of your property assets. Our expert team is here to guide you through the process, define equity and help you explore the possibilities of equity release.


Begin Your Journey Of Releasing Equity Today

What Is Equity? Equity Definition...

The equity meaning in the context of homeownership is the portion of the property that is owned outright by the homeowner. It is calculated by subtracting the outstanding mortgage balance from the property’s current market value.

As the homeowner pays off the mortgage over time or if the property appreciates in value, the equity increases. Equity can be seen as a form of wealth or a financial asset that homeowners can tap into through various means, such as equity release.


What Is Equity Release?

Equity release is a financial product that allows homeowners, typically those aged over 55 years old, to access the equity tied up in their property. It enables individuals to release a lump sum or regular income, while still being able to live in their home.

The borrowed amount, plus interest, is typically repaid when the property is sold or upon the homeowner’s death. Equity release can provide a means to supplement retirement income, fund home improvements or support other financial needs.

At Deedle, we would be happy to assist you in getting an equity release. Simply complete our online enquiry form and a dedicated expert will be in touch on the same day.

Am I Eligible For Equity Release?

Eligibility for equity release typically depends on several factors. While specific requirements may vary among providers, the general criteria for qualifying for equity release include:

  • Your Age – Most equity release schemes require homeowners to be at least 55 or 60 years old.
  • Your Property Value – There is usually a minimum property value threshold, which can vary depending on the equity release scheme and provider.
  • Your Property Type – Typically, equity release is available for freehold or leasehold properties, including houses, bungalows and flats.
  • Your Residence Type – The property should be the primary residence, and some providers may have restrictions on properties located in certain areas.
  • Your Current Mortgage Balance – If there is an outstanding mortgage, it must be repaid or settled using the funds released from equity release.

It’s important to note that eligibility criteria may differ between equity release schemes, and it is advisable to seek independent financial advice to understand your specific circumstances and options.

What Are The Pros And Cons of Equity Release?

Pros of Equity Release:

  • Access to cash: Equity release allows you to unlock the value tied up in your property and receive a lump sum or regular income.
  • No monthly repayments: With certain equity release plans, you are not required to make monthly repayments.
  • Home ownership: You can continue living in your home for the rest of your life or until you move into long-term care.
  • Flexibility: Equity release provides flexibility in how you use the released funds, such as supplementing retirement income or making home improvements.

Cons Of Equity Release:

  • Reduced inheritance: Taking out equity release can reduce the value of your estate, affecting the inheritance you leave behind.
  • Long-term commitment: Equity release is a long-term commitment, and early repayment can incur substantial penalties.
  • Impact on means-tested benefits: Releasing equity may affect your eligibility for means-tested benefits or social care funding.
  • Interest accrual: Interest accrues on the released amount, potentially reducing the amount left as an inheritance or equity in the property.

Get Expert Advice On Releasing Your Home Equity

Is Equity Release Safe?

Safety is of utmost importance when considering equity release. The industry is regulated by the Financial Conduct Authority (FCA) to ensure consumer protection.

At Deedle, we work with reputable lenders who abide by strict standards. When you fill out our application form we will carefully assess your circumstances to ensure you can make the best decision for your situation.

Why Should I Use Deedle For My Equity Release?

Deedle is a reputable mortgage broker with extensive experience in the mortgage industry, including equity release. We are well-versed in the complexities of equity release and can provide you with professional guidance throughout the process.

We have access to a diverse panel of lenders and equity release products, ensuring that we can find the most suitable option for your specific needs and circumstances. We’ll take the time to understand your requirements and present you with tailored solutions.

We offer free, impartial advice and we will always prioritide your best interests. Apply now via our quick and easy online form!

What Types Of Equity Release Options Are There?

When it comes to equity release, there are two main types of options available in the UK:

Lifetime Mortgage:

Home Reversion:

This is the most common type of equity release. It allows homeowners aged 55 or older to release a tax-free lump sum or receive regular payments using the equity tied up in their property. The loan is repaid, along with any accrued interest, when the homeowner passes away or moves into long-term care.

There are various options within lifetime mortgages, such as drawdown plans, where you can release funds as needed or enhanced plans, which consider your health and lifestyle to potentially offer higher borrowing amounts.

This involves selling a portion or all of your property to a home reversion provider in exchange for a lump sum or regular payments. You retain the right to live in the property rent-free until you pass away or move into long-term care.

Once the property is sold, the provider receives their share of the proceeds based on the agreed percentage ownership. Home reversion is less common than lifetime mortgages and may be more suitable for those who prefer not to take on debt.

Find The Best Option For Equity Release For You

Is Equity Release The Best Option For Me?

Determining whether equity release is the best option for you depends on various factors and your unique financial circumstances. It’s recommended to consider the following aspects:

Financial Needs – Assess your financial requirements and goals. Equity release can provide a lump sum or regular income, which may be useful for specific purposes like funding home improvements, supplementing retirement income or clearing debts.

Long-Term Plans – Think about your long-term plans and how releasing equity may impact them. Consider your desire to leave an inheritance for your loved ones or if you plan to downsize or move in the future.

Affordability and Repayment – Understand the costs associated with equity release, including interest rates, fees, and potential early repayment charges. Consider if you can afford these costs both now and in the future.

Alternatives – Explore other options available to you, such as downsizing, accessing other savings or investments or seeking financial assistance from family members. There are also mortgages for over 60s you could consider for a new property.

Frequently Asked Questions About Equity Release

How Does Equity Release Affect My Inheritance?

Equity release can reduce the value of your estate and the amount you can leave as an inheritance. However, you can choose to protect a portion of your home’s value as an inheritance for your loved ones through features like inheritance protection guarantees.

Can I Move House If I Have An Equity Release Plan?

Yes, many equity release plans offer the flexibility to move to a new property, known as ‘portability‘. However, certain criteria must be met, and it’s essential to consult with your equity release provider to ensure a smooth transition.

What Happens If I Want To Repay The Equity Release Early?

Early repayment of an equity release plan may be possible. However, it’s crucial to review the terms and conditions of your specific plan. Early repayment charges may apply, and seeking advice from your provider or an independent adviser is recommended.

Will Releasing Equity Impact My Entitlement To Means-Tested Benefits?

Releasing equity can affect means-tested benefits, as it may increase your overall wealth or income. It’s important to consult with a specialist adviser or the benefits office to understand the potential impact on your specific benefits. There may be options to structure your equity release plan to minimise the impact on means-tested benefits.

Can I Repay The Interest On My Equity Release Plan?

Yes, some equity release plans offer the option to make interest payments, either on a monthly basis or as and when you choose. By making interest payments, you can control the overall amount of debt that accrues over time. It’s important to discuss this option with your equity release provider and understand the implications and affordability of interest payments.