Choosing your equity release plan
An equity release plan is a way to turn some of the equity in your property into tax-free cash. There are two main forms of equity release, with a number of additional options and features to consider for maximum flexibility.
Whichever plan you choose, the money you release is typically repaid only when you pass away or move into long-term care. You are able to remain in your property in the meantime and may have the option of protecting a percentage of its value to pass to your loved ones.
There are two main types of equity release plan:
- The most popular type is a lifetime mortgage, where you borrow money through a loan secured against your home.
- A much less common type of equity release is a home reversion plan where you sell all or a proportion of your home.
Here at Equity Release Wise, we bring you access to the best equity release plans and deals through one of the UK’s largest and best-established equity release specialists. To find out how much you could borrow, check here or talk to one of our friendly consultants by calling 0800 096 2215 or request a call back.