Equity Release

Unlock the value in your home with our expert equity release partners. Whether you're looking to supplement your retirement income, fund home improvements, or assist family members, equity release can be a practical solution.

What is Equity Release?

Types of equity release schemes

To make the most of your equity release, it’s important to understand the different options available.

There are two main types of equity release schemes:

Lifetime Mortgage

Lifetime Mortgage is the most common form of equity release. You can borrow a percentage of your home’s value, without the burden of affordability checks or monthly repayments, while retaining ownership. The interest charged is typically compounded, meaning it accumulates quickly over time and is added to the outstanding balance. The accumulated interest is repaid when the plan ends, usually after you or the last surviving applicant passes away or moves into long-term care. This is the much more popular form of equity release in the modern day.

Home Reversion

Home Reversion is a scheme that enables you to sell a portion or the entirety of your property to a specialized provider. In exchange, you can either get a lump sum or regular payments while retaining the right to live in your home while preserving your residency rights. The provider reclaims their share of the property’s value when it is sold, usually after you pass away or move into long-term care.

Does equity release fit your needs?

Boost your retirement income

Unlock the cash tied up in your property to supplement your pension, allowing you to enjoy a more comfortable and financially secure retirement.

Use equity release to revamp your home

Use the funds from equity release to make the home improvements you’ve been longing for, tailoring your living space to your evolving needs.

Support your loved ones

Give your family members a valuable financial boost when they need it most.

Consolidate your debts by releasing equity from your property

Simplify your finances to pay off outstanding loans, credit cards, and other debts, freeing up your monthly budget.

Considerations of Equity Release

Equity release is a significant financial decision that requires careful consideration. Our referral partners will take you through the key considerations you must weigh up prior to referring you over to one of our preferred equity release partners.

It will reduce the value of your estate, impacting the inheritance you can pass on. Additionally, with a lifetime mortgage, the interest will typically compound over time, meaning you may owe far more than you initially borrowed.

Early repayment charges are another crucial factor and exiting the agreement prematurely can incur substantial fees. Equity release may affect your entitlement to means-tested benefits.

Lastly, if you give money away the recipient may have to pay inheritance tax in the future.

The Equity Release Process

Ready to Release Equity from Your Home? Contact MME Mortgages today to schedule a consultation and explore how equity release can benefit you.

Step 1

Initial Consultation

Discuss your needs and circumstances with one of our expert partners to determine if equity release is the right option for you.
Step 2

Explore Your Options

They will explain the different types of equity release products and help you choose the one that best suits your needs.
Step 3

Application Process

Once you decide on a product, your equity release advisor will assist you with the application process, ensuring accurate completion of the necessary documentation.
Step 4

Valuation

A professional property valuation will determine how much equity you can release.
Step 5

Offer and Acceptance

You will receive an offer from the equity release provider. Upon acceptance, the provider will release the funds to you.
Step 6

Ongoing Support

You can be assured of the ongoing support available to ensure you understand the terms of your equity release plan and address any questions or concerns you may have.

Customers love our ‘whatever it takes’ attitude!

MME Insights