Equity Release

What is equity release?

Equity release is a way for older homeowners to access some of the value tied up in their property without having to sell it. Equity release products can provide tax-free cash, which can be used in a variety of ways. You can take the money that you release as either a single lump sum, in several small increments, or as a combination. To find out more, read our blog What is an equity release?

There are a range of different services that allow you to access the equity that is tied up within your property. Our advisers will take the time to understand your individual circumstances and provide tailored advice to help you make an informed decision. Options include lifetime mortgages and home reversion plans.

Lifetime Mortgages

A lifetime mortgage is a type of loan that allows you to release equity from your home while still retaining ownership. It is available to those who are over 55 and is regulated by the Financial Conduct Authority (FCA). With a lifetime mortgage, interest is charged on the amount you borrow, which can be paid monthly or rolled up and added to the loan. The loan is repaid when you die or move into long-term care, and the property is sold.

Home Reversion Plans

A home reversion plan is a type of equity release product where you sell all or part of your home to a provider in exchange for a lump sum or regular income. You can continue to live in your home rent-free until you die or move into long-term care, at which point the provider will sell the property and receive their share of the proceeds. With a home reversion plan, the amount you receive will be based on the market value of your home, your age, and your health.

Greenacre’s equity release service

It is important to consider the equity release costs and implications before committing to an equity release product, as it can impact the amount you owe and the sale of your home in the future. Our team of qualified and experienced advisers can help you navigate the complex world of equity release and find the right solution for your individual needs.

Whether you want to supplement your retirement income, pay off debts, or fund home improvements, our equity release advisers can provide personalised advice to help you achieve your goals. Ready to explore your equity release options? Get in touch with our specialist team today to take the first step towards unlocking the value of your home.

At Greencare, we are proud members of the Equity Release Council. This affiliation provides you with additional reassurances and protection, as it guarantees that we adhere to specific standards and principles in our work.