What is equity release?
Equity release is a product designed for those over the age of 55 who would like to release some of the wealth tied up in their property without having to sell it. The equity released comes to you tax free in the form of a mortgage with a fixed rate of interest. Typically, the borrowed money along with the accrued interest, is repad to the mortgage lender upon passing away or moving into long term care.
Am I eligible?
If you’re a homeowner aged 55 or over with a property worth at least £70,000, then you may qualify for equity release.
Do I need advice to release equity from my home?
Yes, equity release mortgages are only available through suitably qualified advisers like Equity Select.
How much equity can I release? Try our Equity Release Calculator!
The amount of equity you can release depends on your age, your health, and the value of your property. If you would like an indication of how much equity you could release from your home in Rugeley, try our equity release calculator below: