Equity release has many uses, and more commonly, like many people in or near retirement, you may find that you're better off on paper than you are in practice. This is usually because a significant proportion of your wealth is tied up in the bricks and mortar of your home. This can be a problem if you need to free up some of this wealth but don't want to sell your home.

If you are aged 55 or over, an equity release mortgage can release money from your home without having to make any monthly repayments. There are two types of equity release; Lifetime Mortgages and Home Reversion plans. Both of these are regulated by the Financial Conduct Authority.

By using an equity release product, a home owner can draw a lump sum or regular smaller sums from the value of their home, while still remaining in their home. With a home reversion plan you are actually selling part or all of your home whilst retaining a right to live in the property for the rest of your life.

You can use the money however you wish: perhaps you have plans to travel or just want to maintain the lifestyle you enjoyed when you were earning a regular income. If you're not as mobile as you used to be, you could use the money to adapt your property to make your life more comfortable. You might want to use the money to gift to children and/or grandchildren. Amongst the equity release providers there is a range of products to choose from, with new and innovative products being created regularly. This means that whatever your equity release needs are there is likely to be an equity release plan available to meet them.

By seeking advice from one of our qualified professional advisers, we can ensure your equity release should have no impact on your tax position or your state benefits. However, each individual's circumstances need to be assessed accordingly so please contact us to arrange your "no obligation" initial consultation.

Simpson Financial Services are also members of The Equity Release Council which means that additionally we adhere to their Statement of Principles when providing independent financial advice in this area. 


To speak to one of our expert advisers please call us on 0800 6342 111 or complete the form opposite and we will contact you accordingly.