Equity Release Council
Equity Release Lifetime Mortgages
Association of Mortgage Intermediaries

How We Can Help

If you are over 55 and ever considered releasing equity from your property then you need to take professional independent advice. Equity Release Lifetime Mortgages are getting more and more popular as a means for making the most of your retirement. We can provide a personal visit and have access to all the lenders.

What Is Equity Release?

A Lifetime Mortgage is a way for anyone over 55 years of age to access the equity tied up in their home.  Many people have an interest only mortgage with no way of repaying the capital.  This is where an Equity Release solution could help.  We are members of the Equity Release Council so you can be assured that you are in safe hands.

The tax free cash can be taken as a lump sump or a drawdown option.  This way you only pay interest on the amounts taken.  Certainly a good option if you were looking to top up your pension rather than a one off expense. 

Although you dont have to make any monthly payments, most providers allow you the option of making payments in order to slow down the interest roll up. 

The Lifetime Mortgage works similar to a residential mortgage and is a first charge against the property.  The amount released plus interest will be payable upon death or going into long term care. 


Types of Equity Release

Equity Release products are generally split into two categories - Lifetime Mortgage & Home Reversion Scheme

Lifetime Mortgage

A Lifetime Mortgage is secured on your property and you continue to own your own home 100% – much like a standard residential mortgage.  The main difference however is that you are not assessed on your affordability as the lenders do not require any monthly payment.  The amount taken plus interest is paid back upon death or long term care.  If you are making a joint application then it is paid back on second death or second person going into long term care.  You can however make payments if you choose to do so.

You have the option to fix the interest rate for life and depending on what you require there are various other features and benefits you can have such as fixed early repayment charges, inheritance protection and downsizing protection.

All providers are members of the Equity Release Council that adhere to strict guidelines and rules.  One of which is a “no negative equity guarantee” which means there will never be a debt left to your estate.

With a Lifetime Mortgage you also have the option to have a drawdown facility rather than taking it all as a lump sum.  This is the better option if you dont require all the funds straight away as you will only accrue interest on the amount of cash taken.

Home Reversion

This makes up less than about 1% of the whole Equity Release marketplace and involves selling all or part of your home.

In return you get a lump sum along with a lifelong tenancy to remain in your home.

There is no interest rate as the home reversion company would own (or part own) your property.

You would never get the full market market value of your property and may receive less than 50% depending on your age.  Again there would be no monthly payments due however the reversion company would own the proportion of property sold.

These schemes are not widely used nowadays due to this set up – Reynolds Financial does not offer advice on Home Reversion Schemes

How Much Can You Borrow With Equity Release?

The maximum amount you can borrow is based on your age and property value. Different lenders have slightly different levels and some will even release more if you have certain ailments or illnesses.

How long does the process take?

The process can take a similar time to a standard residential mortgage. Although some cases can be done within a matter of a few weeks, in reality most cases will take about 2/3 months to complete.

Do You Already Have a Lifetime Mortgage?

If you already have a Lifetime Mortgage then please feel free to get in touch as it may be possible to re-mortgage you to a lower rate. Depending on age and property value you may also be able to release further funds.

Whats Next?

Call us on 01633 838097 or complete our Contact Us Form and we can have an initial discussion to see if Equity Release is right for you. During the conversation we can also cover other areas of estate planning such as Wills and Power of Attorney. This is a lifetime mortgage. To understand the features and risks, please ask for a personalised illustration. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice.

remember there are no costs for the initial discussion


Mum, Dad and myself would like to thank you for the excellent service that you have provided. From start to completion it has been a hassle free service and one that Mum and Dad understood. It goes without saying that we will not hesitate to recommend you to anybody that may require this type of service. Neil, once again thank you so very much for guiding us through the process. If you are ever in the area please call in for a cuppa and say hi.

Mr & Mrs White


Neil's help in taking us through the process of applying for Equity Release was made simple from the outset. He was able to explain to members of my family and myself, the options that were available to us, presenting the pros and cons in a clear and concise way that made our choices easy to understand. The process ran efficiently from the outset and I was made aware of the various stages of the procedure well in advance. The completion of my Lifetime Mortgage was confirmed sooner than expected and the final details were undertaken with consideration and professionalism at all times.


South Wales

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