Skip to main content

Equity release

Unlock some of the value tied up in your home. An equity release plan allows homeowners aged 55-95 to access some of the cash locked in the value of their home.

If you’re 55 and over and own your own home, equity release could help you to secure a more comfortable future by releasing tax-free cash from your home. The most popular type of equity release is a lifetime mortgage, which, like a traditional mortgage, is secured against your home. You can use the money released from your home in a wide variety of ways to help finance a better, more rewarding retirement:

Better quality of life

    • A tax-free boost to your retirement finances
    • Home improvements
    • Going on holiday
    • Help with care fees

Help family and friends

  • Getting on the property ladder
  • Paying for a wedding
  • Helping family in financial difficulty

Clear existing debt

    • Clearing mortgage debt
    • Paying off credit cards and loans

Stay where you love

  • A stress-free alternative to downsizing

There are equity release plans to suit a whole variety of needs including the ability to take a lump-sum or take a lump-sum followed by smaller amounts as and when you need it. There are typically no monthly repayments as the loan, plus roll up interest, is repaid when the plan comes to an end, but there are plans where you can choose to make interest payments.

Expert Advice

To release equity from your home, you need to get expert advice from a qualified equity release adviser.

Saffron Building Society is working in partnership with The Equity Release Experts who is an independent equity release broker for the over 55s. Covering the whole of the market, The Equity Release Experts offers friendly, impartial advice to help you see whether equity release is the right decision for you.

The Equity Release Experts will guide you through your options, providing face-to-face advice in the comfort of your home. They will search the whole of the market to find a plan to suit your requirements. If they don’t think equity release is right for you, they will tell you. Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits.

Your questions answered:

Is equity release safe?

Equity release advice and lending is fully regulated by the Financial Conduct Authority. For added peace of mind, further safeguards are provided by the Equity Release Council, such as the no negative equity guarantee, which ensures you will never owe more than your house is worth.

Will I still own my own home?

Yes, with a lifetime mortgage you can rest assured that you will always remain the owner of your property and can continue living there for as long as you choose.

Can I still leave an inheritance for my family?

Equity release will reduce the value of your estate, however, some plans offer a Guaranteed Inheritance Feature allowing you to protect a percentage of your home’s future value for your loved ones.

Can I move home?

Yes, you can move home at any point in the future and take the plan with you (subject to provider criteria). Should you wish to downsize in the future, some plans offer downsizing protection meaning you can use some of your property wealth now and downsize in the future if you want to with no early repayment charge (subject to provider criteria).

Things to consider

A lifetime mortgage, the most popular form of equity release, is a loan secured against your home and will reduce the value of your estate. It may also affect your entitlement to means-tested benefits. Think carefully before securing a loan against your home.

Unless you decide to go ahead, The Equity Release Experts' service is completely free of charge as The Equity Release Experts' usual advice fee of 1.99% of the amount released would only be payable on completion of a plan, subject to a minimum advice fee of £1,499.