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

Over 55 with a home worth over £70,000? You could be eligible for equity release today! Use our instant equity release calculator below to see how much you could release and also receive your FREE posted and digital guide to equity release.

Equity release calculator

£ Enter the value of your property to calculate how much you can release. You must own a home with a minimum value of £70,000 to release equity.
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Get a free comprehensive guide to equity release when you use our calculator

Free Your Choice Equity Release guide with every calculation

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.

We've helped thousands of customers access their property wealth with equity release.

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

What are my next steps?

Talk to us

Our Information Team are here to provide you with initial estimates, facts and figures.

When you’re ready, they can arrange a free, no-obligation appointment with an adviser.

Get expert advice

One of our fully qualified equity release specialists will provide you with expert advice.

Your adviser will help you see if equity release is the right option for you.

Make your application

If you are happy with our recommendation and choose to proceed, your adviser will be on hand to help with the paperwork.

Your property will be surveyed and, if it is acceptable, you will receive your mortgage offer.

Receive your tax-free cash

Your chosen solicitor will talk you through the terms of your offer before you commit to anything.

Then, once any secured charges and mortgages have been cleared, your funds will be transferred to you.

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?