Got a question?

This depends on a number of factors, including your age, property value, chosen provider, health and lifestyle and the type of plan you choose. By finding out more about your circumstances, your adviser can search the market and then advise exactly how much you could release. Our equity release calculator can tell you this in minutes.

You must be aged 55 – 95. Generally, the older you are the more cash you can release from your home.

The answer to this will depend on your personal circumstances, such as how much you want to release, your age, your property value, and whether you want to secure a loan against your home or sell a share of it. Different plans work best for different people, so we would always recommend you speak to a specialist independent adviser who will look at all your options.

Make sure your adviser is independent and ideally a specialist in equity release. You should also check your adviser is fully qualified to advise on all types of equity release plans. All of our partner’s advisers are fully qualified to give advice on equity release after having undertaken the induction programme endorsed by the Institute of Financial Services, School of Finance.

As long as the home continues to be the main residence for you or another person named on the plan then you can continue to live in your home. If you are the sole name on the plan then your home will be sold if you go in to long term care or when you pass away.

At the end of the plan, your home is sold in order to repay the plan provider. If your plan is provided by a member of SHIP, then you’ll have a ‘no negative equity guarantee’. That means that whatever happens to the outstanding amount, there is no way it will exceed the value of your home, and can never leave a debt for your family to repay.

Equity release hasn’t been completely unaffected by changes in the housing market, since the amount people can release depends on their property’s value. The good news is that most people have still been able to release the cash they need, in spite of their home’s reduced value.

Your plan would still be honoured on the same terms. You would not be forced to repay your plan or leave your home.

There are a few providers who will allow this. Again, this highlights the benefits of seeking specialist independent advice, since your adviser will search the market so your options won’t be limited.

No. Your health is not something the equity release providers normally consider. However, there are enhanced lifetime mortgage schemes available which do take your health and lifestyle into consideration to enable you to release more cash.

Most equity release providers allow this, provided that the new home you move into meets their criteria.

If you have a lifetime mortgage in place and decide to move to a property of a lower value, you may have to repay some or all of the loan as well as the accumulated interest. If you have a home reversion plan then the provider will usually retain the same percentage of your new home, with the left over cash of the sale from the old property being split between you and the provider.

Most equity release providers will allow this but you will need their approval before you go ahead.

You state benefits may be affected by an equity release scheme. An independent adviser will be able to assist you with these queries and advise you on how it will affect you personally.

Yes but if they are over 17 then they will need to sign a form to waive their right to occupy the property in favour of the provider of the equity release scheme.

Your basic state pension and personal pension will not be affected if you release money through a lifetime mortgage or home reversion plan.

Usually around 8-12 weeks from you signing the application form to receiving the cash.

No. If you take out a lifetime mortgage that is SHIP (Safe Home Income Plans) approved then you will never fall into negative equity. At Equity Release Warehouse we suggest that our customers look at equity release schemes that are SHIP approved. If you take out a home reversion plan you don’t owe anything as the reversion company owns a share of your house.