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About the Author

Dan Osman

Head of Later Life at UK Moneyman Ltd.

Dan Osman

Dan joined the Financial Services sector back in 2002, but actually left the industry in 2008 before returning some years later. During the in-between years, he took a degree to become a Social Worker specialising in working with vulnerable adults.

Upon his return, Dan combined his experiences in the two sectors to become an Equity Release Specialist and he now heads up UK Moneyman’s Later Life Lending proposition. He genuinely believes in a holistic approach and always ensures his clients receive a proper consideration of all the options available, including non-lending alternatives to Equity Release.

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How to Release Equity from Your Home?

If you are aged over 55+ how you can release equity from your home via an equity release mortgage.

There are two kinds of equity release product available that will allow you to release equity from your home, these are: 

  1. Lifetime mortgages – these are the most popular type of equity release product available.
  1. Home reversion plans – these make up a very small percentage of equity release recommendations in the industry.  

Considerations Before Releasing Equity

We’re an independent mortgage broker, so we’re able to advise and recommend the best type of equity release product available to you along with traditional and retirement interest only mortgage alternatives.

With a lifetime mortgage, you’ll be able to release equity from your home as either an initial lump sum for a large purchase or in smaller chunks to supplement your income in retirement.

If you don’t need all the money you release from your home as a lump sum and are happy with an initial amount followed by smaller chunks, a drawdown equity release may work better for you and save you a lot of money in interest.

Also, when releasing equity from your home via equity release, you can choose whether to make monthly payments.  Monthly payments are optional, if you can afford to pay a monthly contribution towards the interest of any amount, this will help maintain some of the equity in your home and it’ll save you a lot of money in interest.

Alternatives to Equity Release

There are alternatives to consider to releasing equity from your home, these are: 

As you can see, there is a lot to consider when looking to release equity from your home and seeing professional advice will prove invaluable.  All alternative products should be considered by your mortgage advisor ahead of an equity release recommendation.

Our team is available 7 days a week to answer all your questions surrounding equity release on your home.



About the Author

Dan Osman

Head of Later Life at UK Moneyman Ltd.

Dan Osman

Dan joined the Financial Services sector back in 2002, but actually left the industry in 2008 before returning some years later. During the in-between years, he took a degree to become a Social Worker specialising in working with vulnerable adults.

Upon his return, Dan combined his experiences in the two sectors to become an Equity Release Specialist and he now heads up UK Moneyman’s Later Life Lending proposition. He genuinely believes in a holistic approach and always ensures his clients receive a proper consideration of all the options available, including non-lending alternatives to Equity Release.

Learn More

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UK Moneyman Limited is Registered in England, No. 6789312
Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

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