Equity Release

If you’re in need of flexible finances for a successful retirement, your home could help. Equity Release plans allow older homeowners to release money tied up in their home as tax-free cash, while continuing to live in their home.

Your partner can also live there after you pass away, if you have a joint plan. You can take out the money as a lump sum, in several smaller amounts, or both.

We can introduce you to a regulated Equity Release adviser – speak to one of our team today to find out more.

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Uses for Equity Release

There are many uses for Equity Release, which include:

  • Clearing existing debt
  • Going on holidays
  • Making home improvements
  • Buying a car
  • Paying off an existing mortgage

The amount of money you can release from your home depends on your age and property value, but it is usually up to 60%. The two main types of Equity Release are the lifetime mortgage and home reversion scheme – see below.

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Do I qualify?

To qualify for Equity Release, you must:

  1. Be aged 55 or over for lifetime mortgage and over 60 for home reversion – if you are applying as a couple, both applicants must be over this age
  2. Own and live in the property
  3. Be able to release enough equity from your property to pay off any outstanding mortgages or secured loans. You can use the money left for your other financial needs.

Your property must also be:

  1. Valued at £70,000 or more
  2. Situated in the UK
  3. Freehold or leasehold with a minimum lease period of 75 years remaining
  4. In good condition and of standard construction

    Important 

    Advice and lending relating to equity release is a regulated activity overseen by the Financial Conduct Authority (FCA). Clarke & Wright is not authorised or regulated by the FCA and does not provide equity release advice.

    Where equity release may be relevant as part of wider estate or tax planning discussions, our role is limited to making an introduction to an independent, FCA-authorised equity release adviser. We do not recommend specific products, assess suitability, or influence a client’s decision.

    Any advice on equity release is provided entirely by the authorised adviser, who is responsible for:

    • Giving regulated advice and recommending suitable products

    • Carrying out all required checks and compliance steps

    • Ensuring the client receives independent legal advice where required

    We take care to introduce clients only to reputable, properly authorised advisers and to ensure that roles are clearly defined. Any referral arrangements are transparent, and Clarke & Wright does not participate in the advice process itself.

    This approach ensures that clients receive appropriate protection while benefiting from joined-up professional support, with regulated advice provided only by those authorised to do so.

    Get in touch and speak to one of our friendly advisers today.

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