Equity release mortgage rates

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There are some great value equity release mortgage rates available through dozens of UK lenders - but it can be difficult trying to find the right one.

First Mortgage is an impartial broker that searches the whole of the market. We provide a completely FREE service that guarantees to find the best equity release mortgage rates.

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What is an equity release deal?

With an equity release mortgage you can sell part of your home in exchange for a cash sum - without having to move house. If you are looking to free up some cash in your retirement, this might be a particularly useful deal.

Equity release deals come in two forms: reversions or lifetime deals. A lifetime mortgage is effectively a loan secured against your property. However, interest is only payable when the house is sold on after your death or moving to a retirement home. Reversion schemes allow you to sell a percentage of your property in return for a lump cash sum or monthly payment.

Is an equity release mortgage rate the best deal for you?

Equity release mortgage rates vary from lender to lender, but there are some very competitive deals on the market. Before you decide on your mortgage type, it’s worth considering the following points about equity release deals:

 Helps to solve the common retirement problem of being asset rich, but cash poor
 Access cash without having to move home to a smaller property
 Staying in your property and not moving might help reduce inheritance tax (check with your solicitor about the possible complications)
 With a lifetime deal there can be an issue over how much of the property will be yours to pass on to your children/grandchildren
 You may lose some rights to means tested benefits
 If the sum released is spent unwisely, then it can have a negative impact on quality of life
 If you opt for an income-payment deal this will be counted in your tax calculations

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Call us on 0845 603 1525 for a free consultation with one of our friendly and experienced team. We are happy to discuss your situation and help you choose the best deal.

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