What is equity release?
Types of equity release
Drawdown lifetime mortgage
Interest-only lifetime mortgage
Do you already have an equity release plan?
Switching your existing equity release plan could potentially save you thousands. Equity release rates have recently fallen to record low levels meaning you could benefit from a more competitive plan. You could also access more tax-free cash and new features with more than 700 plans now available.
Our selected advisers are ready to start your free review without any obligation to proceed, so get in touch today.
Our equity release providers
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How it works
Start your quote journey
Simply click 'Get Started' to begin your search for the perfect equity release plan, for your circumstances.
Tell us what you need
Fill out some simple and straightforward details about your current situation to start the process.
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We'll personalise the service to your individual needs and goals, to find the perfect equity release plans for you.
Why choose The Money Service?
Here are some of the ways our selected advisers can help:
Maximum cash releases
Quickly and easily find the maximum amount of cash you could release from your property
Best equity release offers
Enjoy preferential equity release offers from the UK’s top equity release companies
What support is available
The Money Service is a trusted service - putting your needs first.
Compare equity release providers
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Free equity release quote service
There's never any pressure to proceed when you request quotes through The Money Service
Safe and trusted advice
Receive trusted equity release advice from authorised and regulated specialists
Expert equity release knowledge
Get free information on different equity release plans, products and providers
What customers say
Don't just take our word for it, hear what our customers have to say...
They were extremely helpful with my recent equity release. They sorted everything out for me and kept me up to date with weekly phone calls. They were extremely pleasant and friendly. They made the whole process very simple for me.
Top service provided and equity release completed very quickly, would recommend for anybody to use the service to arrange equity release for them.
Our adviser was first-class, making everything clear and concise. So we knew exactly how to proceed with our proposed equity release. The support from head office was also excellent throughout the whole process.
Very professional advice
Very professional advice, and ended up with a very good deal, which my research has indicated is the best currently available.
Helpful at all times
Everything fully explained so you are always kept in the loop. They don't try and rush you or push any product on to you they just give you their advice. Very friendly and helpful at all times.
The process of obtaining equity release has been a stress-free experience with a friendly and efficient service and carried out in a most professional manner.
Answering your questions
Still unsure of a few things? We've got you covered with a few simple answers to some of our most frequently asked questions.
Equity is the value of the assets you own (in this case your property) minus any outstanding debt such as a mortgage.
For example, if your home is worth £250,000 and you have a mortgage of £50,000, then you have £200,000 equity. If you had no outstanding mortgage, your equity would be the same as the full property value, which would be £250,000.
Equity release allows you to release some of the equity in your home as tax-free cash, either as a lump sum or in smaller, regular amounts. There are usually no monthly repayments on the equity that has been released unless you choose a plan with this built-in. The amount of equity released and its associated interest rolls up over time and is only repayable when you pass away or move into long term care.
Every equity release provider compared by this service is a member of the Equity Release Council. This ensures that every plan recommended carries a "no negative equity guarantee". This means that when your property is sold, and agents' and solicitors' fees have been paid, even if the amount left is not enough to repay the outstanding loan to your provider, neither you nor your estate will be liable to pay any more.
To be eligible for equity release you must meet the following criteria:
- Be aged 55 or over. If you apply for equity release as a couple, the youngest applicant on the deeds of the property must also be 55 or above.
- Be able to pay off any outstanding mortgage or debts secured on the property with the funds raised from equity release.
- Own your own home in the UK, with a value of £70,000 or more.
- If the property title is leasehold, as opposed to freehold, the minimum remaining lease must be 75 years or more.
- Be a UK resident.
The amount of money that you can release from your home typically depends on the value of your property, your age and your health.
The older you are, the more you can generally release up to a maximum of around 50% of your property's value for older customers. Those with existing health conditions could unlock additional cash with an enhanced equity release plan.
To find out how much you could release, use our free no-obligation equity release calculator.
Most equity release applications take between 6 to 8 weeks to complete. However this can vary significantly depending on the circumstances; in some instances, it may be quicker, in others, it may be longer. If you decide that an equity release plan is suitable for your needs and proceed through the service, all will be done to keep your wait to a minimum and make sure that payment is made to your bank account as soon as possible.