Dispelling the myths around Equity Release

This is false! With lifetime mortgage, you will still retain 100% ownership of your home. You’re not selling your home, you are simply borrowing against it.

For those equity release products that are registered and approved by the Equity Release Council, there is protection against this. These plans have a ‘No Negative Equity Guarantee’ included as standard. This means you will never owe more than the value of your property.
When your plan comes to an end, the property will be sold to pay off the loan. In the unlikely event that your property has decreased in value, the remaining balance will be written off if your plan is approved by the Equity Release Council.

Many lenders understand that leaving an inheritance for your family is very important. With some plans, you are able to ring-fence a portion of your home’s value for this purpose.
Some people use equity release as a way to grant their family an early inheritance. This can be a good option if your family needs this money (for example, to buy their own property or pay off university fees). Plus, you can see them enjoy the money too!

If your plan is approved by the Equity Release Council, a guarantee to move home is provided. Some plans are also available with downsizing protection, if you think you may still want to downsize in the future.