Equity release: what happens on death?
If you’re a homeowner aged 55+ then you might be considering equity release to boost your finances. A plan is usually intended to be a lifetime commitment, so what happens to equity release when you pass away?
In this article, we explain what happens when you pass away, including:
- What is equity release?
- How does equity release work when you die?
- Can the surviving spouse or partner stay at home?
- What happens if we both move into long-term care?
- Who is responsible for paying off equity release when someone dies?
- What happens if my home does not sell in time?
- What happens if I owe more than the value of my home?
- Can my family keep my home?
- Can I pay off my equity release plan before I die?
We hope this guide will help you understand the issues around equity release and what happens when you pass away. Our selected advisers are also available to discuss your circumstances and offer further information and advice. Just call us on 0800 096 2215 or request a call back and we’ll arrange a no-obligation appointment for you. Alternatively, check your eligibility and get an initial indication of how much tax-free cash you could unlock.
Please note: This article is provided for information purposes only and does not represent financial, mortgage or investment advice. If in doubt, you should seek independent financial advice.