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Unlock tax-free cash from your home with a Lifetime Mortgage plan

Over 55 with a home worth over £70,000? You could be eligible for equity release today! Use our instant Lifetime Mortgage 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 a Lifetime Mortgage?

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.

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 the costs involved in equity release?

Your home is most likely the most valuable thing you own, so it’s particularly natural to want to check that any method you use to utilise its value will be cost-effective.

At Your Choice Equity Release, we want to make it as easy as it should be for you to understand these costs. They include:

The interest rate – typically at a rate fixed for life, interest is usually the main cost of releasing equity. By choosing Your Choice, you gain access to exclusive products and rates from our lender, Canada Life.

The more you release, the more interest you will be charged, so it’s important to think long-term and weigh up present wants and future needs. An adviser can provide a personal illustration detailing how interest will build up over time and you can choose to release a smaller amount to minimize future cost should you wish.

Advice fee – good advice should be affordable, and that’s why our advice fee is currently not exceeding £490. To make the process as seamless as possible, this cost will usually be deducted when the funds are released to you. This advice fee is only charged upon completion.

Setup costs – it is also worth considering that there will also be set up costs when taking out a Lifetime Mortgage. These might include funds transfer fees and legal and solicitor costs.

What makes it worth it?

It’s important to make the right choice when your home is involved, but if you do decide to release equity with us, the cost will grant you access to:

  • Personalised advice - the expert team behind Your Choice have fully qualified advisers located across the country, so you’ll receive advice from an assigned personal adviser, local to you.
  • Your advice, your way – you can choose the pace of the process, and the way you receive advice will always be arranged with your convenience in mind. After all, it’s your journey, so it’s important to us that it progresses in the manner you’d like it to.
  • The right protection – should you choose to proceed with a Lifetime Mortgage, your application will be checked and approved by a second expert.
  • Added features – with the Canada Life product, you’ll benefit from flexibility and the option to personalise your plan.

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.

Lifetime Mortgage 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?