Equity release is a long-term decision, usually repaid when the property is sold, and can affect inheritance and benefits.
Equity release is available to homeowners aged 55 or over who want to access money tied up in their property.
If you own your home, either outright or with a small mortgage remaining, you may be eligible.
The amount you can release depends on your age, property value, and overall circumstances.
Many customers explore equity release to boost retirement income, clear an existing mortgage, or manage ongoing costs.
Others use it to support family members or fund larger one-off expenses. You continue living in your home as normal, with no need to move.
Most plans do not require monthly payments, giving you flexibility over how and when the loan is repaid.
Each situation is different, so it’s important to look at how equity release fits alongside other options that may be available to you.
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From age 55, there are two main ways to release equity from your home.
A lifetime mortgage is the most common option. This allows you to borrow against your property while keeping full ownership.
You can take the money as a lump sum, smaller amounts over time, or a combination of both.
Interest is usually added to the loan, though some plans allow optional payments to manage the balance.
A home reversion plan works differently. You sell part or all of your home to a provider in exchange for a tax-free lump sum or regular payments. You retain the right to live in the property for the rest of your life.
Both options are designed for long-term use and are only repaid when the property is sold, typically after moving into long-term care or passing away.
The right choice depends on how much you want to release, how you plan to use the funds, and whether flexibility is important to you.
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The most suitable option depends on your personal circumstances and what you want to achieve.
Some customers prefer a lump sum to cover a specific cost, such as repaying a mortgage or funding home improvements.
Others choose a drawdown option, releasing smaller amounts over time to reduce interest build-up.
If maintaining as much equity as possible is a priority, plans with flexible payment features may be worth considering.
In other cases, simplicity and immediate access to funds may take priority.
Whilst it can be a great option for some, equity release is not the only route available. There may be other alternatives worth exploring depending on your situation.
Looking at the full picture ensures the option you choose supports both your current needs and future plans.
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Joseph Harros
As first-time buyers, we had very little knowledge of the mortgage process and found it quite daunting, especially with rising interest rates and uncertainty in the property market. We’re extremely grateful to Dinah and Jo for their support and would highly recommend UK Moneyman to any first-time buyer looking for a professional, knowledgeable and supportive mortgage broker.
29 Oct 2026
Jade Wilmot
As first-time buyers, we had very little knowledge of the mortgage process. We changed properties along the way, and our circumstances made the mortgage process more complex than we initially expected. Dinah and Jo were absolutely brilliant throughout. We would definitely recommend UK Moneyman to anyone looking to set up a mortgage.
29 Oct 2026
Diane A
First class service. Jason and Lizzie helped me immensely getting a good mortgage quickly when I found myself separated. They pulled out all the stops and even spoke to me after hours. Excellent and would highly recommend. I can’t thank them enough. I now have my dream home
28 Oct 2026
Chloe Gathergood
Paula and Jason have been so helpful in getting our first mortgage sorted. They were quick to answer any questions and very helpful with their advice. Thank you very much
23 Oct 2026
Rebecca Joy
Leo and Lizzi were exceptionally helpful. Leo gave us great advise, not just on products available, but on things like bidding on properties, whether we were likely to be approved for more complicated properties etc. Lizzi was very communicative and thorough in processing our application, and after our first sale fell through we didn't hesitate to use UK Moneyman again. Thanks so much to Leo and Lizzi!
15 Oct 2026
Callum Kennedy
Very helpful and informative. Made the process as easy as possible. Would recommend to other
14 Oct 2026
Barry Hall
I had a financial issue that I thought was pretty unique to myself. The help and solution to my financial question has been exceptional in every step of the way. A big thank you to Warren and Joe for all of your patience and technical expertise.
14 Oct 2026
Megan Whitlock
The team working with my profile were amazing, I was in constant communication with them, if I emailed and rang someone responded quickly and they were able to secure my mortgage within 6 weeks from my initial meeting which saved me a lot of messing around and stress. Great service thank you
14 Oct 2026
Linda Chadwick
Amazing company very helpful and patient fantastic staff at the Hull branch nothings to much trouble sorted me a morgage out quickly and efficient i would recommend them 100%
14 Oct 2026
Natalie Rose
We’ve had Elaine Tiernan as our mortgage advisor and she has helped us out so much in the process of being approved with our first mortgage. From working around our working hours to arrange phone calls and online teams meetings to being prompt to respond to our enquiries. Elaine has been nothing but helpful, professional and supportive in our journey this far and we are very grateful to have had her as our mortgage advisor. Thank you to Paula aswell for always checking up on us and ensuring the process was as smooth as possible. Natalie and Liam
13 Oct 2026
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £1295.
You should always think carefully before securing a loan against your property.
A lifetime mortgage will reduce the value of your estate and may affect your entitlement to means tested benefits.
Clearing existing mortgage with a lifetime mortgage may result in higher cost of borrowing.
Enjoy a selection of our YouTube videos we think that you'll find useful.
More on Equity Release
We'll never prioritise business over your needs. We're here to make sure you end up with the best result for you and your family.
We follow the rules and guidelines set by the ERC, safeguarding our customers and providing a high standard of conduct.
We'll never charge you just to sit down, answer your questions and chat about your goals or your situation, we're only paid on results.
We pride ourselves on trying to be as accessible as we can be. That means appointments from early until late, every day of the week.
Thanks to our membership with the Equity Release Council, you'll never need to worry about negative equity impacting your family.
Our advisors will take the time to run through everything with you, ensuring you understand your deal. Your family are welcome to be there too.
If there are alternative options, we will always look at those first and if equity release is still the right option, we'll make that clear.
Mortgages are more accessible than ever for older borrowers and we actively encourage this. It's not "later life", it's just another mortgage option.
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UKmoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© UKmoneyman 2009–2026
UKmoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© UKmoneyman 2009–2026
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