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More On Equity Release


What Can I Use Equity Release For?


You can use the Tax Free money released from your homes value in any way you want. The most common purposes are…


Home Improvements, Improving Lifestyle, repaying an existing mortgage or loan, Deposit for children’s first home, private medical care, Divorce settlements, Grandchildren’s university fees, New car.


What Does Equity Mean?


‘Equity’ is the amount of money you have tied up in your home, that is the value of your property less any mortgage or other loans you have secured against it.


What Is Equity Release?


‘Equity Release’ allows you to use some of the money tied up in your property without moving home. It can provide a cash lump sum, a regular income or a mixture of the two.


Why Should I Consider Equity Release?


Many people have far more money in their home than they do in any other investments or savings. The only problem is that you cannot simply spend this money – you cannot access this cash unless you sell your home or release the cash in some way. Equity Release gives you the opportunity to make the money in your home work for you, either by giving you a cash lump sum or a regular income.


Am I Eligible For An Equity Release Plan?


You are almost certainly eligible for an equity release plan, if you meet the following three criteria?


If you are a home owner

If you (or you and your partner) are over 55

If the property you own is your main private residence and worth more than £60K


Is Equity Release Safe / Will I lose my home?


Here at Freedom Equity Release we only recommend plans with no negative equity guarantees and those which are endorsed by ‘The Equity Release Council’ Formerly SHIP (Safe Home Income Plans) or those that offer the same guarantees, this means you get a whole set of guarantee’s including staying in your home for life if you wish and never leaving any debt to your loved ones.


Are there any downsides to Equity Release?


Lifetime mortgages can significantly erode the remaining equity and as a result there may be no value left to pass on.

Equity release schemes may work out more expensive than alternatives such as downsizing to a smaller property.

Equity release can affect eligibility to state benefits and grants.




This Website refers to Home Reversion Schemes and Lifetime Mortgages. To understand the features and risks, ask for a personalised illustration.


For details of how we can be paid, please see our How Much is it page.



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Freedom Equity Release is a trading name of Willcox Financial Limited who are an appointed representative of Sense Network Limited which is authorised and regulated by the Financial Conduct Authority.


This site is intended for UK consumers only. The information contained in this website is for general information only and is not financial, investment or tax advice



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