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Don't fall for the myths about equity release

Get the facts

Equity release has soared in popularity in recent years, yet the myths around the product and how it works continue to circulate. The misconceptions around equity release mean that many of those who could benefit the most from this financial solution, simply don’t consider it.

Whether you are looking for ways to clear an outstanding mortgage, boost your disposable income, fund your goals for later life or help your loved ones financially, your property wealth could be the key to achieving your ambitions.

If you’re over 55, and your home is worth over £70,000, you could be eligible for equity release today!

To find out how much equity you could release and receive a free copy of our guide to the truth about equity release, use our instant, online calculator today!

Free guide with every calculation

Unlock tax-free cash from your home with an equity release plan

You could be eligible for equity release today! Use our instant equity release calculator below to see how much you could release and also request your FREE posted and digital guide to equity release.

Equity release calculator

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  • A 5-star rated service you can trust

5 reasons why equity release could be your solution:

  • Any funds you release are tax-free.
  • Retain 100% ownership of your home.
  • Your home cannot fall into negative equity.
  • Results are instant and no credit check.
  • No pushy salespeople, you're in total control (rated ‘Excellent’ on Trustpilot).

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What is equity release?

Equity release can come in two forms – Lifetime Mortgage products and home reversion plans.

Only with a Lifetime Mortgage can you release tax-free cash from your home and still retain full homeownership. That is why Your Choice Equity Release only offers advice on Lifetime Mortgage products.

When releasing equity in this way, you do not have to commit to monthly payments. Instead, interest will be added to the amount released and build-up over time, typically with a fixed for life interest rate. If you choose not to make any payments, then the full amount borrowed plus interest will usually be repaid with the sale of the home after you die or enter permanent long-term care.

Why is releasing equity so popular?

Equity release can be used for all sorts of different things and this is why it is such a popular product. It’s your choice, you can:

  • Make those home and garden improvements you’ve been dreaming of for years.
  • Lift the weight of required monthly repayments by paying off your existing mortgage. This could give you a boost to your disposable income so that you can continue to enjoy life's little luxuries.
  • Help loved ones financially. Whether you want to gift an early inheritance, help with living costs at university, contribute to a house deposit or finance a wedding, equity release could help you to give your family a boost.
  • Enjoy life to the fullest and fund your long-held goals. Buy that new car, caravan or motorhome that you've always wanted, or fund your dream holiday.

It's important to be aware that releasing equity with a Lifetime Mortgage will reduce the value of your estate and could affect your entitlement to means-tested benefits. Speak with one of our advisers to understand the features available to help control these risks.

What our customers say

Rated ‘Excellent’ by our customers on

Trustpilot

“Richard Johnson was my Equity Release advisor, who I can genuinely say, did a thoroughly professional job in keeping me informed, raising the pitfalls, as well as the advantages of the various options, and monitoring the paperwork throughout this process. I do not normally write reviews, unless I feel the service was exceptional.”

5 out of 5

Mr. Sharratt

Cumbria, England

“I contacted Mr Kevin Williams to help guide us through the ER process, Kevin was extremely helpful, polite and kept us informed at all times. He was very efficient and keen to answer our questions, how nice to deal with somebody that is not ‘pushy’ or ‘aggressive’, I have the greatest respect for Kevin and should anybody read this review then fear not you will be in safe hands.”

5 out of 5

Mr. & Mrs. Croft

Denbighshire, Wales

Why choose Your Choice Equity Release and Canada Life?

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The team behind Your Choice Equity Release have over a decade's worth of experience offering an award-winning equity release advice service. In order to offer our customers access to market-leading products, we have chosen Canada Life, one of the most established and trusted equity release lenders in the UK. With our quality advice, and Canada Life's market-leading products, we have built a service that you can trust.

Equity release FAQs

Your questions answered

Equity release is becoming increasingly popular as UK homeowners look to take advantage of their property wealth to fund their later life ambitions. However, equity release products are still not widely understood and are often the subject of decades old myths concerning safety, how much you can release and how much you could owe. Below we have listed some of the main questions our customers have when considering releasing equity.

The amount that you can borrow depends on the value of your home and the age of the youngest homeowner on the deeds. In some cases it could also be impacted by your health. To be eligible the youngest homeowner must be aged 55 or over, and the property must be worth at least £70,000.

Based on your personal circumstances we will work to find the plan that best suits you. There are a number of different types of Lifetime Mortgage, based on the way you release the funds and whether or not you wish to make voluntary repayments during your lifetime.

Lifetime Mortgages have no fixed end date and the mortgage balance is due for repayment once the last homeowner on the deeds has either passed away or entered into long-term care. Typically, this is achieved through the sale of the property.

How much tax-free cash could be available?