WHAT IS EQUITY RELEASE?
Equity release is a means of releasing the equity in your home without having to move if you are over the age of 55. Equity release is a general term but by far the most popular product is a lifetime mortgage. This is a loan that’s secured against your home to give you a cash lump sum to spend as you please. In addition, further loans may be taken as and when you need them with a feature called drawdown.