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Equity release plans

Whatever your current personal situation and future aspirations, there is an equity release plan for you. From lifetime mortgages to RIO's, learn about all of the options available to you.
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Lifetime mortgage plans

The most popular type of equity release scheme. These plans come with a range of features and benefits, enabling you to tailor a plan to meet your individual needs both now and in the future.

Lump sum
Ideal if you want all your money in one go. Great for ‘large ticket’ items where a maximum release is required. Alternatively, useful when aligning a lump sum to find the lowest interest rate possible.
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Drawdown
It's popularity accounts for over 70% of plans written. Drawdown allows you to take a smaller amount of money initially, with access to further funds in the future. Helps reduce the overall interest charged.
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Interest only
Useful if you wish to maintain a level balance during your lifetime, by repaying the interest charged back to the lender. This results in only the initial amount borrowed ever being repayable.
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Voluntary payment
A popular and flexible feature that effectively helps you to control the future balance of your plan. Voluntary payments allow you to repay upto 10%-15% of the initial loan to counter roll-up of interest.
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Enhanced
If you have a history of poor health, enhanced plans can actually work in your favour. Based on your health and lifestyle, these plans can enhance the size of the maximum loan, or lower your interest rate.
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Second or holiday home
You can now release equity on a UK property you own, other than your main residence. Lender criteria allows you to frequent the premises, let them out, or even be made available for Airbnb purposes.
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Buy-to-let
A specialist equity release plan for landlords looking to release equity from their rental portfolios. Ideal for remortgaging any existing mortgage, purchasing new buy-to-let property or mitigating tax.
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More borrowing options

Home reversion plans
Here you sell a percentage of your property in return for a cash lump sum and a lifetime tenancy. When the property is sold, the pre-agreed split in title ownership is shared between the lender and your estate.
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RIO mortgages
RIO's are a relatively new type of interest only lifetime mortgage, designed to solve the shortage of mortgages available in retirement. They require income verification, and monthly payments.
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Retirement mortgages
Allows you to borrow into retirement over a specific term, with monthly interest only, or capital and interest payments. The loan is based on proof of income and your credit history.
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