Equity Release Plan
Brought to you by the 2024 Equity Release Adviser of the Year and 2023 Mortgage Broker of the Year for later life lending.
An equity release plan gives you the flexibility to secure a loan against your property’s value without the need to downsize or sell your home. Get in touch with our Bristol based team today for specialist advice.
With an equity release plan, you have the flexibility to either take a loan secured against your home’s value or, in some less common cases, sell a portion of your property to receive a tax-free lump sum or a steady monthly income. Many modern options also feature a ‘draw down’ facility, giving you a secure cash reserve to tap into as and when your needs change.
Clifton Mortgages is a proud member of the Equity Release Council, the leading regulatory authority protecting consumers in the UK equity release market. If you are looking to explore your equity release options right here in Bristol, speak to our local specialists today.
Equity Release Advice
These plans are typically tailored for homeowners aged 55 and over who already own their home outright or have a relatively small outstanding mortgage left to clear. That said, equity release isn’t just for staying put, it can also be used to enhance your purchasing power, helping you buy and move into a larger or more suitable property.
Contact us today or book an appointment online
Homeowners generally have two paths to choose from: securing a specialist loan against the equity in their property, or selling a percentage of the home to a provider in exchange for a guaranteed lease to remain in the property for life. When it comes to handling the interest, modern plans put you in complete control: you can service the full interest monthly, make ad-hoc partial repayments, or make no monthly payments at all and allow the interest to roll up.
Where a client chooses to make zero monthly repayments, the accumulated loan is eventually settled when you pass away or permanently relocate into long-term residential care. Please bear in mind that a lifetime mortgage is a significant, long-term financial commitment secured against your primary residence, where compound interest will accumulate over time. Because releasing equity inherently reduces the ultimate value of your estate, it may not be the ideal solution for every homeowner.
Contact us today or book an appointment online
Maximum Equity Release Calculator
Try our instant borrowing calculator below to get an idea of how much tax-free cash you could unlock from your home. Simply input an approximate value for your property along with the age of the youngest homeowner to see your estimate immediately.
These results are purely indicative. Actual borrowing limits vary across different lending institutions based on final property valuations, specific product features, and how annual interest compounding intervals are calculated.
Mortgage Compound Calculator
Use our projection tool below to visualise how a lifetime mortgage balance grows over time if you decide to let the interest roll up without making repayments. To see the impact of compound interest, simply enter your target loan amount, the specified interest rate, and the estimated lifespan of the plan.
Because exact compounding models differ depending on the provider, these calculations are generated solely for illustrative purposes to assist your long-term planning.
What are the alternatives to equity release?
Before committing to any equity release scheme, it is always wise to thoroughly evaluate all your available options first. For example, you might have personal savings, investments, or other assets you can draw upon, or you might choose to extend your working life with some form of employment.
Alternatively, downsizing to a smaller, more cost-effective home, or relocating to a different region of the UK where property prices are lower, can free up significant tax-free capital. Mainstream residential mortgages or specialised retirement interest-only (RIO) options may also serve as a more suitable path depending on your circumstances.
Who is eligible for equity release?
Generally, equity release is designed for homeowners aged 55 or older who either own their property outright or have a relatively small outstanding mortgage left to clear. It is also worth noting that you can use these plans to purchase a new home rather than just staying in your current one.
A lifetime mortgage is a significant, long-term financial commitment secured against your primary residence, where compound interest will accrue over time. Because releasing equity naturally reduces the inheritance you leave behind, it is not the right choice for everyone and should always be considered alongside expert advice.