Equity release guidance
Equity Release Advice
Lifetime Mortgages & Home Reversion Plans
The Mortgage Hive can help you understand equity release options, including lifetime mortgages and home reversion plans, with advice tailored to your circumstances. Equity release is a major financial decision and should be considered carefully before you proceed.
Advice should consider your age, property, family, benefits, inheritance wishes and long-term plans.
Lifetime Mortgage And Equity Release Advice
Equity release may allow eligible homeowners to release money from their property, but it is not suitable for everyone. A lifetime mortgage is secured against your home, so advice should be clear, balanced and based on your full circumstances.
Your adviser should consider your age, property value, income, family circumstances, future plans, benefits, inheritance wishes and the terms of any product before making a recommendation.
Understand lifetime mortgage and home reversion options
Review costs, interest, repayments and product terms
Consider effects on benefits and inheritance
Discuss suitability before making a decision
Book A Free Lifetime Mortgage Consultation
Complete the form and we will contact you to discuss your circumstances and the options that may be available.
Key considerations
What To Think About Before Releasing Equity
Equity release can offer flexibility for some homeowners, but every feature should be weighed against the long-term cost, product terms and your wider family plans.
Releasing funds from your home
Equity release may allow eligible homeowners to access money tied up in their property, subject to lender criteria and product terms.
Staying in your home
Some plans may allow you to remain in your home while the loan is repaid later, usually when you die or move into long-term care.
Lump sum or drawdown options
You may be able to release an initial amount, keep a reserve for later, or consider a lump sum depending on your circumstances.
Optional repayments where available
Some lifetime mortgage products may allow voluntary repayments, but limits, charges and conditions can vary between providers.
Family and inheritance considerations
Equity release may reduce the value of your estate, so it can be important to consider family plans and inheritance wishes.
Professional advice before proceeding
Advice can help you understand whether equity release may be suitable, or whether other options should be considered first.
What Is Equity Release?
Equity release is a way for some homeowners to access money tied up in their home. It is not suitable for everyone and should be reviewed alongside alternatives, family plans and long-term costs.
What is Equity Release?
Equity release can allow eligible homeowners to release tax-free cash from their property. The money is usually repaid from the property sale later, subject to product terms.
What is a Lifetime Mortgage?
A lifetime mortgage is a loan secured against your home. You usually keep ownership of the property, and interest may roll up unless repayments are made where permitted.
What is a Home Reversion Plan?
A home reversion plan usually involves selling all or part of your property to a provider in return for money, while retaining a right to live there under the plan terms.
Equity Release vs Lifetime Mortgage
Equity release is the wider category. A lifetime mortgage is one type of equity release, while a home reversion plan is another type.
Eligibility And Borrowing
Eligibility and the amount you may be able to release can depend on your age, the property value, the youngest applicant, property suitability, lender criteria and product terms.
Released funds may be used for different purposes, such as repaying an existing mortgage, home improvements, supporting family, retirement income or other personal plans. Advice should consider whether the purpose is suitable and whether alternative routes may be more appropriate.
Costs, Interest And Repayment
Costs may include product fees, valuation fees, legal costs and any provider charges. Interest may roll up over time, which can increase the amount owed and reduce the value of your estate.
Some products may allow optional repayments, moving home, downsizing protection or significant life event exemptions, but these features are product-specific and subject to terms. Early repayment charges may apply.
Important Things To Consider
Equity release is not suitable for everyone. The Mortgage Hive is authorised and regulated by the Financial Conduct Authority #844138.
- Equity release may reduce the value of your estate.
- Equity release may affect your entitlement to means-tested benefits.
- Interest may roll up over time and increase the amount owed.
- Early repayment charges may apply.
- You should consider discussing equity release with your family.
- Independent legal advice may be required.
- Your home may be repossessed if you do not keep to the terms of the mortgage.
- Advice is important because equity release is not suitable for everyone.
Equity Release Council Standards
Some lenders and products may be members of the Equity Release Council. Where applicable, its standards include protections such as a no negative equity guarantee, but this should not be taken to mean equity release is risk-free.
You can read more directly from the Equity Release Council.
Lifetime Mortgage Providers
The Mortgage Hive can help compare lifetime mortgage and equity release options from a range of providers, subject to your circumstances and product availability.
Aviva
Hodge
Just
Legal & General
LV
More2Life
OneFamily
Pure
Retirement Advantage
Scottish Widows
Equity Release FAQs
These answers are general only. Personal advice should be based on your circumstances and the product terms available at the time.
What is Equity Release?
Equity release is a way for some homeowners to access money tied up in their property. It can affect inheritance, benefits and long-term finances, so advice is important.
Who is eligible for Equity Release?
Eligibility usually depends on age, property value, property type and lender criteria. Joint applications normally consider the youngest applicant.
What is the difference between Equity Release and a Lifetime Mortgage?
Equity release is the overall term. A lifetime mortgage is one type of equity release and is a loan secured against your home.
What is a Lifetime Mortgage?
A lifetime mortgage lets you borrow against your home while usually retaining ownership. Interest may roll up unless repayments are made where the product allows.
What is a Home Reversion Plan?
A home reversion plan usually means selling all or part of your property to a provider in return for money while retaining a right to live there under the plan terms.
How much money can I borrow?
The amount may depend on your age, property value, property suitability, health, product terms and lender criteria. A personalised illustration is needed before proceeding.
What can I use the released funds for?
Clients may use funds for purposes such as repaying an existing mortgage, home improvements, supporting family or retirement planning, subject to advice and product terms.
What is the Equity Release Council?
The Equity Release Council is an industry body. Some lenders and products may follow its standards, including protections such as a no negative equity guarantee where applicable.
Can I owe more than the property value?
Some products include a no negative equity guarantee where applicable. You should check the product terms and receive advice before relying on any protection.
Lump sum or drawdown plan?
A lump sum may suit immediate needs, while drawdown may allow later withdrawals. The right option depends on your plans, costs and product availability.
What costs may apply?
Costs may include product fees, valuation fees, legal fees and advice or administration costs. The Mortgage Hive will explain costs before you decide whether to proceed.
Can I make repayments?
Some products may allow optional repayments, but the amount, timing and conditions can vary. Early repayment charges may apply if you repay outside the product terms.
What are early repayment charges?
Early repayment charges are fees that may apply if you repay some or all of the lifetime mortgage early. They can vary by lender and product.
Can I move home?
Some products may be portable to another suitable property, subject to lender criteria. Downsizing protection may also be available on some plans.
Will Equity Release affect my benefits?
Equity release may affect entitlement to means-tested benefits, especially if released funds are kept as savings. You should seek advice before proceeding.
Can I still leave an inheritance?
You may still leave an inheritance, but equity release can reduce the value of your estate. Some products may offer inheritance protection, subject to terms.
Can I lose my home?
Your home may be repossessed if you do not keep to the terms of the mortgage. You should understand all obligations before proceeding.
Tailored advice
Your Situation Is Unique So Is Our Advice
Equity release advice should reflect your age, property, health, income, family circumstances, benefits, inheritance wishes, existing mortgage, future plans and lender or product criteria.
We will help you understand the options that may be available and the important risks to consider before deciding whether equity release is right for you.
Helpful Equity Release Links
These links preserve the location and contact routes from the existing page.
Equity Release Bournemouth
Equity Release Christchurch
Equity Release Poole
Equity Release London
Contact Us
About Us
Ready To Discuss Equity Release Advice?
Talk to The Mortgage Hive about lifetime mortgage and equity release options, the costs to consider and whether this route may be suitable for your circumstances.