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From your first mortgage payment, you will start building up equity in your home. Equity is simply how much money you have put into your house. You work out the equity in your property by taking the total amount left on your mortgage and deducting it from your total mortgage amount.
Equity is essentially equivalent to cash, it’s just built up inside of your home. For example, if you release equity from your property, you will receive a lump sum of cash.
This lump sum of cash can be spent however you would like. As a mortgage advice in Bristol, we often see that property owners use this money to pay off unsecured debt, go on holiday or gift the money to a family member to use for a deposit to purchase a home.
When releasing equity from your property, if you are below the age of 55, you will have to remortgage to receive your lump sum. If you are over 55, you will receive your equity in instalments in the form of a lifetime mortgage.
Both types of equity release plans, lifetime mortgages and home reversion plans, are regulated by the Financial Conduct Authority.
Providing that you’re living in your primary residence, you could be eligible for a Lifetime Mortgage. Here you can select a portion of the equity for yourself and then a portion for the family inheritance.
With a Lifetime Mortgage, you don’t necessarily have to pay back your monthly repayments, you could just let the interest build up. The loan only becomes repayable if you pass away, move into long-term care or are declared unable to take care of yourself without assistance.
Remember that you will have to pass certain requirements before being able to take equity from your property. Your age and property value will be the main factors that affect how much you can withdraw from your home.
Equity Release is a specialist topic and we would advise speaking to a equity release advisors in Bristol before trying to release equity from your home. Our mortgage advisors in Bristol are more than happy to try and help you! Give us a call or book a free initial mortgage appointment online today.
To understand the features and risks, ask for a personalised illustration.
A Lifetime Mortgage may impact the value of your estate and it could affect your entitlement to current and future means tested benefits.
The loan plus accrued interest will repayable upon death or moving into long term care.
Equity release in Bristol may be a suitable option, but it’s important to consult with a qualified later life mortgage advisor in Bristol to determine the most suitable solution for your needs and plans. Your advisor will review all alternatives and only recommend equity release if it is the most beneficial for you.
Involving your family in these discussions is encouraged, but ultimately it’s your decision. If equity release is not the most suitable option, your advisor will be transparent and help you find an alternative solution.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £995.
You should always think carefully before securing a loan against your property.
A lifetime mortgage will reduce the value of your estate and may affect your entitlement to means tested benefits.
Clearing existing mortgage with a lifetime mortgage may result in higher cost of borrowing.
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During the free initial appointment with a later life mortgage advisor in Bristol, your inheritance plans and goals will be discussed. This will help the advisor to understand your priorities and tailor their recommendations to best suit your needs.
As a later life mortgage advisor, we will explore all options available to you before recommending equity release or a lifetime mortgage. These alternatives include options such as retirement mortgages, charitable donations, and other financial arrangements that may better suit your situation.
Our goal is to find the most suitable solution for you and your specific needs before considering releasing equity from your home.
Due to the significant nature of later life mortgages, it is important to involve family members or trusted parties in discussions. Our later life mortgage advisors in Bristol will ensure that you fully understand all your options, plans and any additional information before making a decision.
We will make sure that you have a thorough understanding of what you are agreeing to, so you can make an informed choice that suits your needs.
If equity release is not the most suitable option for you, your later life mortgage advisor in Bristol will refer you to the appropriate services for your plans.
On the other hand, if equity release is suitable for you, your advisor will provide a personalized lifetime mortgage recommendation that takes into account any inheritance plans you have. This ensures that you get the most suitable solution that meets your specific needs and goals.
Your advisor can search through 1000s of mortgage products on your behalf. These products will be suited to your personal and financial circumstances.
Our new, simplified booking service allows you to pick your own date and time for a mortgage appointment. Follow our ‘get started’ process and get in touch!
Our job is not just to try and find you a better rate, we will also help you through the whole process. We have specialist equity release remortgage advisors in the moneyman team that would be more than happy to take your call and talk you through the remortgage options.
We would recommend getting mortgage advice in Bristol so that you are aware of the whole process and exactly how it works. We have over 20 years of experience in the mortgage sector; our advisors will be able to answer your question.
Check out our amazing, 5-star reviews! Many happy customers have returned to us with positive feedback saying how much they have valued our service. We would love for you to take a look and see what people have thought of our service.
We will hold your hand from start to finish. Our team will be on-hand throughout the process to make sure that you feel comfortable and secure throughout the whole process.
Our job is not just to try and find you a better rate, we will also help you through the whole process. We have specialist equity release remortgage advisors in the moneyman team that would be more than happy to take your call and talk you through the remortgage options.
Equity release is a complicated subject, and that’s why it’s best to get a second opinion and ask a question.
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Bristolmoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Bristolmoneyman 2025.
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Bristolmoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Bristolmoneyman 2025.
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