Delivering unique Equity Release solutions that are right for you, both now and in the future.
Your property is probably your biggest financial asset and it can be a very effective way to release cash for other purposes. But this is a decision which needs sound advice. That’s where our specialist equity release team comes in. Our equity release mortgage brokers research the entire market, then arrange the very best equity release or lifetime mortgage solution tailored to your circumstances.
Going direct gets you one provider's plan and nothing to measure it against. You can't tell whether the rate or the terms are competitive without a comparison.
There's nothing to pay monthly, so interest is added to the loan and then charged on the total. Very few people are shown what that becomes in fifteen years before they sign.
A lump sum starts accruing interest from day one, including on the part you won't touch for years.
Your case goes to the equity release providers available to us, so you can see how the rate, the terms and the early repayment charges differ before you commit to one.
We show you what the balance reaches at five, ten and twenty years, and what that leaves in the property. Paying some interest along the way to slow it down is part of that conversation.
If you don't need it all at once, we set up a reserve instead. You're only charged interest on what you've actually taken.
Roughly what your home is worth, its type and construction, and anything still owed on a mortgage.
How much you're looking to release, what it's for, and whether you want it as one sum or over time.
Your age, your partner's age if it's a joint plan, and any means-tested benefits you currently receive.
Bespoke structures for high-value assets and non-standard income streams.
Specialist mortgage advice tailored to company directors and the self-employed.
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Fast-tracked capital for property developers and professional investors.
The team here at AB Mortgages have an unparalleled level of experience advising clients on equity release from our hub in Benfleet, Essex. Using our knowledge we can advise on equity release matters that are tailored to your personal circumstances and offer unique solutions that will not only work for you now, but into the future.
Yes, you can use equity release to repay existing debts. Whether it is the right choice comes down to the type of debt you are carrying, what you want the next stage of life to look like, and whether another option would serve you better.
Monthly commitments can start to feel heavier later in life, particularly once you have retired or your income has changed shape. Credit cards, loans and an outstanding mortgage all falling due in the same month adds up quickly. But, Equity release can ease that in some cases, replacing several separate payments with a single arrangement secured against your home, with no monthly repayment required unless you choose to make one.
One thing to be aware of from the outset is that whether equity release is an option at all will come down to your personal circumstances.The borrowing sits against your home and the interest builds over the years, so this is a decision to take carefully and with a qualified equity release adviser alongside you. They will review what you currently owe, weigh equity release against alternatives such as a retirement interest-only mortgage, and set out clearly what each option would mean for you and for your family further down the line.
Not exactly, although the two terms are often used as though they mean the same thing. Equity release is the umbrella term for products that let older homeowners access money tied up in their property, with lifetime mortgages available from age 55. A lifetime mortgage is one type of equity release, and it is by far the most common. It accounts for the overwhelming majority of plans taken out in the UK.
The other type is a home reversion plan, where you sell a share of your property to a provider in return for a lump sum or regular payments, while continuing to live there. Home reversion plans are far less common today.
The distinction matters more than it might first appear, because the two work in fundamentally different ways. With a lifetime mortgage you remain the legal owner of your home throughout, and any growth in its value still belongs to you and your estate. With a home reversion plan you are selling part of your property outright, so that share, and any future increase in its value, passes to the provider.
There is no universal interest rate for equity release. The amount you’re charged can vary between lenders and products. The interest rate depends on things like your age, your property, and the level of equity you want to release.
Extra features, such as inheritance protection or early repayment options, can also change the rate. This means two similar homeowners with similar property values may still get different rates.
By building your confidence in understanding how equity release interest rates work, you may have a better foothold on whether it’s the right choice for your retirement years. But, if you’re unsure or want to know more about how interest rates could affect you, please get in touch with our team of equity release experts.
Whether you can release equity from a shared ownership property depends on the terms of your shared ownership agreement and the policies of your provider or housing association that you share your property with.
Before considering equity release from a shared ownership property, you must carefully review your shared ownership agreement and understand your rights and obligations. Consulting with relevant authorities and seeking professional equity release advice can help you make informed decisions and navigate what can sometimes be a complicated process.
Yes, it’s possible to take out equity release even if you have an existing mortgage. But, most equity release lenders will require the mortgage to be cleared when the equity release plan completes. A simple way to understand this is that because equity release is secured against your home, equity release lenders need to hold something called “first legal charge”.
This charge is basically a loan secured against your home. The main reason is security. Your current mortgage provider will already have a legal charge against your property and will be to be paid first. Equity release providers require their loan to be the primary (first) charge, which ensures clarity over repayment when the property is eventually sold.
A no negative equity guarantee means that you will never owe more to a lender than your property is worth, regardless of how much interest accrues on your plan. In short, it guarantees that neither you nor your estate will be responsible for paying any shortfall between the money owed and the property value.
This remains true even if property prices fall or considerable interest builds up on the loan. It means you can release equity from your home to boost your retirement finances without the worry that you’ll leave a financial burden behind for your loved ones.
Yes! The inheritance guarantee is one of the most important features of a Lifetime Mortgage. It means you can choose to set aside a portion of your home’s value to ensure you can leave your loved ones' inheritance when you’re no longer here. And, the amount you choose to set aside will be preserved for your family, even if the loan balance grows over time.
The key thing to understand is that with the Inheritance Guarantee, you have to find the right medium between receiving the money you wish to gain now compared to leaving some behind for your family.
Yes, it can, and it is exactly the sort of thing worth checking before you commit to anything.Money released from your property counts as capital once it is sitting in your bank account. Some benefits are assessed on how much capital and income you have, so a lump sum can affect the amount you receive, and in some cases your eligibility.
The benefits most commonly affected are Pension Credit and Council Tax Reduction. Universal Credit and Housing Benefit can also be affected where they apply. Benefits that are not means-tested are unaffected, so your State Pension, Attendance Allowance and Personal Independence Payment will continue as normal regardless of how much you release
Yes, it’s possible to take out equity release even if you have an existing mortgage. But, most equity release lenders will require the mortgage to be cleared when the equity release plan completes. A simple way to understand this is that because equity release is secured against your home, equity release lenders need to hold something called “first legal charge”.
This charge is basically a loan secured against your home. The main reason is security. Your current mortgage provider will already have a legal charge against your property and will be to be paid first. Equity release providers require their loan to be the primary (first) charge, which ensures clarity over repayment when the property is eventually sold.
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