There are two types of UK equity release
Two types of equity release are available to UK consumers: lifetime mortgages and home reversion plans. They share many similarities – but there are also crucial differences that consumers need to be aware of.
In this article, Clare Yates explains how both types of equity release plan work, including the main product standards and product features available to consumers:
- Introduction: what is equity release for?
- Lifetime mortgages.
- Equity Release Council product standards for lifetime mortgages.
- Lifetime mortgage product features.
- Eligibility for a lifetime mortgage.
- Home reversion plans.
- Equity Release Council product standards for home reversion.
- Home reversion product features.
- Eligibility for home reversion.
- Advantages and disadvantages of equity release.
About the author:
Clare Yates is a freelance writer specialising in later life finance. She has built up a wealth of knowledge about equity release, later life mortgages, pension annuities, wills and LPAs over more than a decade of writing in this sector. This has included editing the customer magazine for one of the UK’s biggest equity release broker firms, and writing for Retirement Line, the UK’s leading annuity broker.