You and your property

You must…

  • be aged 55 or over – both applicants if a joint application
  • own and live in the property
  • have enough equity from your property to enable you to fully pay off any outstanding monies secured against your home

Your property must be…

  • valued over £70,000
  • in the UK
  • of standard construction and in good condition
  • freehold or leasehold (with a minimum remaining lease term of 75 years)

The process

Once you have decided what monies you will need for the rest of your life, you should research all the alternatives that are open to you. If after investigating all the options available you decide that you want to explore equity release further, you should follow these next steps to make sure that it’s right for you: –

Speak to a Later Life Planning expert

 It is imperative to obtain impartial advice to answer all your initial questions. An initial consultation meeting with a fully qualified expert gives you the opportunity to discuss all your options, including equity release in full detail

Talk to your family

We find that most families are incredibly supportive of their loved ones’ decision to take out an equity release plan. It is important that your family understands the impact of the plan on the value of any inheritance left to them

We encourage our clients to invite as many family members that they wish to their consultation meetings, to ensure that everyone gets a full understanding of the options and their implications before any decisions are mad

These conversations sometime lead to solutions being found from within the family without the need to take out an equity release plan, and therefore maintain the value of the estate

First consultation meeting (fact finding meeting)

Your dedicated Later Life Planning expert will find out about your circumstances and requirements and discuss all the options available to you

Finding the right plan

Should you decide to proceed, your expert will search the whole of the market to find the most suitable plan for you and your circumstances

Second consultation meeting (presentation meeting)

Your expert will present their recommendation to you and answer any further questions you or your family may have. Your expert will also provide a personalised illustration which provides full details of the plan recommended including all the costs and features of the chosen plan

Submitting your application

If you accept your expert’s recommendation, the paperwork is completed and submitted to the plan provider. Your home will then be valued by an independent surveyor

Offer issued

Once the provider has conducted all the relevant checks they will issue an offer including the full terms and conditions of your plan for your approval

Legal Process

An independent solicitor acting on your behalf will ensure that all the legal aspects of the transaction are in order


Monies are released to you by the provider and you can use this as you wish to meet your requirements

Typically, it will take between 4-8 weeks from application to completion. However, we cannot guarantee this timescale, and in some circumstances, it may take longer

If you’re considering releasing equity we strongly advise that you read Is a lifetime mortgage for you? or call one of our regional offices to discuss all your options in full detail