The Mortgage Supply Company

Equity release loans


Equity release loans

Letting your property support your lifestyle as you grow older.

Read more about refinancing

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How does an equity release loan work?

As the general population ages, there are a lot more people who are retiring and have a limited income, but who also own property outright.

If you are asset-rich but cash-poor, an equity release loan could be the answer. These allow you to borrow against the value of your property, without having to make repayments. The interest on the loan is added to your mortgage and paid back when you permanently leave the property and it is sold.

A lifetime guarantee means you can stay in your home for the rest of your life, and a no negative equity clause means you can never owe more than your house is worth. Essentially, you will never be forced to leave your home by an equity release mortgage.

The amount you can borrow will depend on your age – the older you are; the more equity you can access.

An equity release mortgage costs a little bit to set up, as there are establishment fees, you’ll need to get a property valuation, and it’s compulsory to get independent legal advice before signing the mortgage agreement.

We can help you work with different lenders to get the right equity release mortgage for your needs. Get in touch with us.

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