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What is home equity release?
Get cash using the value in your house
A home equity loan frees up the value in your house
Home equity release (home equity loans and home equity credit) is a means of accessing the cash in the equity (i.e. value) in your house while still living in it.
The value of your house is the value of it on the open market minus the amount of the mortgage, if any, left on it.
This site aims to provide an overview of the different types of home equity loan, who they are suitable for and important things to consider before entering into a home equity release scheme.
Home equity credit need to know:
- Home equity release is only available for people over a certain age, usually from 50 years
- You must be a homeowner to qualify for a home equity loan
- There are two broad types of home equity release; a lifetime mortgage and a home reversion plan
Keep on living in your home
How does a home equity loan pay out?
When you take out a home equity loan, you will either receive a cash lump sum to do what you like with, a cash lump sum which is then invested into an annuity (a type of investment that pays out a taxed income), or both.