Please note: this service is not provided by The Mortgage Advice Professionals. We will introduce you to a specialist lending firm we are partnered with, who will advise you and arrange the finance. MAP will stay alongside you throughout, supporting you at every stage of the process
An equity release mortgage is a loan that allows home owners to access the value of their home as cash. This can be done as a lump sum or in smaller amounts over time. When we refer to Equity Release mortgages, we are referencing Lifetime Mortgages, not Home Reversion plans.
How it works
- You borrow money against your home
- You don't have to move out of your home
- You don't have to pay back the loan immediately
- The loan is repaid when you or the last named borrower in the house passes away or moves into long-term care
Who can use equity release?
- You must be 55 or older to release equity
- The amount you can release depends on your age and the value of your home
- Have a property worth at least £70,000 in the UK
Why use equity release?
- To help with retirement planning
- To pay off an existing mortgage
- To make home improvements
- To raise cash for a gift to family or friends
- To put a deposit on another property
- To finance an expensive family event, like a wedding
How Can a Mortgage Adviser Help?
At The Mortgage Advice Professionals (MAP), our qualified advisers specialise in equity release and are here to guide you through every step of the process. By offering clear, tailored advice, we ensure you fully understand the options available to you. Working with a panel of trusted providers, we will recommend the best solution to suit your needs and long-term goals.
Why Choose MAP?
At The Mortgage Advice Professionals (MAP), we have a team of experienced specialists dedicated to equity release planning. We are committed to delivering a service that is tailored to your unique requirements, ensuring you feel supported and informed at every stage.
A lifetime mortgage is not suitable for everyone and may affect your entitlement to means tested benefits, so it is important to seek financial advice before taking any action. If you are considering releasing equity from your home, you should consider all options available before equity release.
The interest that may be accrued over the long term with a Lifetime Mortgage, may mean it is not the cheapest solution. As interest is charged on both the original loan and the interest that has been added, the amount you owe will increase over time, reducing the equity left in your home and the value of any inheritance, potentially to nothing.
Although the final decision is yours, you are encouraged to discuss your plans with your family and beneficiaries, as a Lifetime Mortgage could have an impact on any potential inheritance. We would also encourage you to invite them to join any meetings with your Financial Adviser so they can ask questions and join in the decision, as we believe it is better to discuss your decision with them before you go ahead.
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