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Equity Release : the facts and figures
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Equity Release
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What is Equity Release ?

Equity release lenders now give homeowners aged 55+ the option to turn the equity built up in their property into tax-free cash without selling up or downsizing. You continue to own the property 100%, keep the deeds in your name and have the right to remain in your property for life.

Equity Release Fact

1 In 2012, over 17,700 new equity release plans were taken out, to a value of around £925m.

Equity in your home is the difference between the home's fair market value and the outstanding balance of all mortgages, secured loans and charges on the property. Usually, to access your equity you would need to sell your property or remortgage with straining monthly repayment commitments.

However, equity release is a product designed to meet the needs of asset rich homeowners who don't want to move. It's popular because it makes sense. The equity release lenders like to invest in reliable, long-term UK property whilst those releasing equity benefit from gaining access to money that would have otherwise been tied up for life.

This service is provided by our partner, Responsible Equity Release2.

1 Equity Release Research Centre (www.erresearchcentre.org)

2 Compare With Us (www.comparewithus.com) introduces customers to Responsbile Equity Release which is authorised and regulated by the Financial Conduct Authority. Compare With Us relationship with Responsbile Equity Release is limited to that of a business partnership, no common ownership or control rights exist between us. Please note, we cannot be held responsible for the content of external websites and by using the links stated to access these separate websites you will be subject to the terms of use applying to those sites.