Could a cash boost from your home impact your benefits?
When releasing some of the money from the value of your home with equity release, it’s essential you weigh up all the pros and cons. Sometimes the extra cash you unlock can affect your entitlement to some means-tested benefits. If you depend on state benefits or perhaps funding for care, you’ll need to consider your options carefully.
To help you explore issues around equity release and benefits, we’ve compiled the following information:
- How does equity release work?
- Does equity release affect benefits?
- How does equity release affect means-tested benefits
- How does equity release affect state benefits such as Universal Credit?
- Does equity release affect your pension?
- Does equity release affect pension credit?
- Can equity release affect council tax reduction?
- Could equity release affect funding for care?
- Will equity release affect my benefits?
We hope this guide will help you understand some of the issues around equity release and benefits. This guide is for information purposes however, and doesn’t offer advice. Please talk to Citizens Advice or appropriate government agencies for further help to assess whether releasing equity might affect your entitlement to benefits.
Our selected advisers are also available to discuss your circumstances and offer advice on equity release, and help you find suitable plans. Just call us on 0800 096 2215 or request a call back for a no-obligation appointment. Alternatively, check your eligibility and get an initial indication of how much tax-free cash you could unlock.