Compare equity release plans with the help of experienced advisors.

You need to be 55+ and own your own home.

The amount you can release depends on:

· Your age

· The value of your property

· Your health - If you have recently experienced significant ill health, a lender may be willing to lend you more.

We estimate between 6 to 8 weeks from the time you apply, but there can be exceptions. Some complete in 14 days, others can take 6 months. This can be, for example, due to an issue with the title of the property, or if the property is not of standard construction.

The key is to speak to us, and we'll be able to give you a better indication based on your circumstances.

Yes, we're a whole of market mortgage broker as well, so if it's a better option for you to have a traditional mortgage we can help you with that.  We can also help arrange mortgages if you're using equity release to help someone with a deposit for a property purchase

According to Canada Life* the top five reasons for releasing equity in 2022 were: 

1. Clear existing mortgage (49%)
2. Home improvements (32%)
3. Day to day living/income (20%)
4. Consolidate unsecured debt (16%)
5. Holidays (15%)

Other reasons for releasing equity include:

• Buying a new property
• Funding care costs
• Helping children or grandchildren financially
• Paying for a hobby or interest

*Source Canada Life’s Home Finance Reasons for Loans data, 2022

Applying for a lifetime mortgage is very similar to applying for a normal residential mortgage, so you'll need to provide your advisor with the following:

1. Proof of name - Passport or Driver's Licence
2. Proof of address - Utility bill dated within the last 3 months
3. Proof of income (where payments are being made) - Pension statement/bank statement
4. 3 months bank statements in all cases
5. Proof of deposit if purchasing a property