Unlock tax-free cash with an equity
release plan
Homeowner over the age of 55? Use Royal London Equity Release Advisers’ free equity release calculator to see how much you might be able to release.
5 facts about Lifetime Mortgages
- You still own the property - 100% of it.
- You will not have to pay back more than your home is worth.
- You can ring-fence a portion of your property value to pass on as an inheritance.
- You can choose to make optional repayments to reduce the amount that you owe.
- Equity release can be used to pay off existing mortgages, provided the full amount can be cleared with the release and from other sources, resulting in no more monthly repayments!
- The personal information collected will be used by Royal London Equity Release Advisers to respond to your request by telephone and/or email and post. Please view our privacy notice for more information on your rights and how Royal London Equity Release Advisers will use your personal information.
What is equity release?
Equity release is an option for homeowners over the age of 55 who are looking to unlock some of the value tied up in their homes and convert it into cash.
At Royal London Equity Release Advisers, we specialise in offering guidance on the Lifetime Mortgage, a popular equity release product. This mortgage is designed to last your entire lifetime and gives you the flexibility to decide whether or not to make payments. The loan, along with any unpaid interest, only needs to be repaid when the last homeowner dies or enters long-term care.
When considering equity release, there are various features to explore and risks to understand. By speaking with one of our advisers, you can get a clear picture of the benefits and potential downsides. They’ll explain how releasing equity will reduce the value of your estate and could impact your eligibility for means-tested benefits. Together, you can discuss flexible options to help you manage these aspects.
How does the equity release calculator work?
Our equity release calculator is here to help you see how much equity might be available to you. It works by taking into account the age of the youngest homeowner and the estimated value of your home. Here’s what you can expect:
- Enter the age of the youngest homeowner and an estimate of your home’s value.
- Select how to receive your free guide.
- Let us know how to contact you.
- Receive your results and have a courtesy call with the UK-based Information Team.
How does the process work?
Once you have completed the calculator and spoken with the Information Team, an advice appointment is the next step.
What happens when you speak with an adviser?
- Your local adviser, personally assigned to you, will be in touch to introduce themselves and ask some initial questions.
- They will conduct some initial research on your behalf and meet with you to discuss more about your wants and needs.
- After going away to finalise their research, they will book a second meeting with you to present their findings and offer a recommendation on the best option for you.
- Whether releasing equity is right for you or not, our promise means that we will tell you.
Is equity release the only option?
At Royal London Equity Release Advisers, we’re all about finding the best solution for you. Our advisers will take the time to fully understand your situation and explore a wide range of products, including Lifetime Mortgages, Retirement Interest-Only Mortgages, and traditional mortgages.
We’ll also help you weigh up whether borrowing is the right choice for you. While we compare all the options out there, we’ll encourage you to think about alternatives like downsizing or tapping into your existing savings too.
Open and honest advice
We want to help you make the right decision for you about your finances. That’s why we will:.
- Offer you a no-obligation consultation to discuss your needs, priorities, and preferences.
- Work at your pace - you’ll never be pushed or under any obligation to proceed.
- Lay out the available products clearly, with respect shown to the other financial options available.
- Have a second qualified expert check and approve all recommendations, ensuring that you receive the very best advice.
- Only charge an advice fee if you go through with our recommendations and release equity.
What can we offer you?
From Lifetime Mortgages to Retirement Interest-Only Mortgages and traditional mortgages, our advisers will sift through over 400 products to find the best fit for your situation.
We understand that managing finances as you approach retirement can be tricky, so we only charge an advice fee if you decide to apply for a product. This means you can chat with our fully accredited advisers and get expert advice without any pressure to move forward unless you’re ready.
How much tax-free cash
could you release?
Use our calculator to get an estimate of the tax-free cash that could be available to you.
Calculate nowFrequently asked questions
The amount of equity that you might be able to release depends on two factors: the age of the youngest homeowner and the value of the home.
Lenders will offer a maximum percentage based on your age, so the calculator will calculate this percentage against the value of your home to provide an estimated figure.
Equity release is a lifetime loan, and the full amount is not due to be paid back until the last homeowner has died or entered long-term care. However, it is entirely up to you whether or not you make any payments within your lifetime. You could choose to pay the interest monthly, pay some towards it as and when you want to, or pay nothing. Any payments come without obligation too, so you can choose to stop making them at any time without penalty.
Equity release is not recommended for short-term borrowing needs. However, we understand that your circumstances can change, which is why we offer access to products with fixed and defined early repayment charges. Your adviser will make you aware of exactly what they will be in each year following your release, usually reducing over time. This allows you to plan for the future and understand exactly how much you will owe should you choose to repay the equity release early.
Yes, this will form a part of your consultation with an adviser. They will conduct research and show you the different options so that you can understand the features available and the interest rates. In addition to a full comparison of equity release products, your adviser will assess your suitability for traditional mortgages and Retirement Interest-Only Mortgages.