Equity Release

Compare The UK's Best Equity Release Plans

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The leading equity release providers compared

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Access to preferential equity release offers

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What is equity release? What is equity release?

What is equity release?

Equity release allows you to unlock cash from your home, in the form of a tax-free cash lump sum or payments, without having to move. It's essentially a long-term loan that's repaid once you pass away or require long-term care. You'll need to be over the age of 55, and you can take the money you release as a lump sum or, in several smaller amounts or a combination of both.

Types of equity release

Lifetime mortgage

Lifetime mortgages are designed for people who are looking to borrow funds on a lifetime basis, with interest rates fixed for life. They can be used to either purchase a new property or to release funds from your existing home. Lifetime mortgages are available to anyone aged over 55 and can be obtained regardless of your credit history.

Drawdown lifetime mortgage

A flexible drawdown lifetime mortgage means that instead of withdrawing the maximum amount available to you right away, you can take an initial amount that you need, then in the future, you can draw down additional funds as and when you need them.

Interest-only lifetime mortgage

Interest-only equity release is often seen as the most cost-effective method of equity release, allowing you to manage interest by making monthly repayments. As long as you keep up with the interest payments, the amount you owe never increases. This avoids the compounding of interest associated with lifetime mortgages.

Home reversion

Home reversion is a type of equity release scheme that lets you use some of the money that's tied up in your home, by selling all or part of your property at less than its market value in return for a tax-free lump sum, a regular income, or both. This will allow you to stay in your home as a tenant, paying no rent.
Do you already have an equity release plan? Do you already have an equity release plan?

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

Get exclusive offers from leading providers – make sure you don't miss out on the best deal

Pure Retirement
Canada Life
Crown Equity Release
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Planning your retirement is a big and exciting step! That's why we want to help you celebrate with a £100 gift card on us. When you take an equity release plan with one of our selected partners, you'll be able to choose one of two rewards as a thank you for using The Money Service.

How it works

Step 1

Start your quote journey

Simply click 'Get Started' to begin your search for the perfect equity release plan, for your circumstances.

Step 2

Tell us what you need

Fill out some simple and straightforward details about your current situation to start the process.

Step 3

View your best deals

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

Maximum cash releases

Quickly and easily find the maximum amount of cash you could release from your property

Maximum cash releases
Best equity release offers

Best equity release offers

Enjoy preferential equity release offers from the UK’s top equity release companies

What support is available

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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.

Get in touch

Call us today and a friendly equity release consultant will be on hand to help. Or request a callback and a member of the team will get in touch at a time that suits you.