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Roger CooperReviewed by Roger Cooper, Full CeMAP Qualified Adviser · Last updated October 2026
Later Life Lending

Access the equity in your home — without selling it

If you're 55 or over and own your home, you may be able to release a tax-free lump sum or regular income from the equity you've built up — while continuing to live there for the rest of your life.

Specialist referral service

Equity release advice requires a specialist qualification. We are not currently authorised to advise on equity release directly — so rather than give you a generalised opinion, we refer you to trusted, fully qualified equity release specialists we work with. You get proper specialist advice, and we stay in touch throughout.

Call us: 0844 884 9748

Get a referral to an equity release specialist

Tell us a little about your situation and we'll put you in touch with a qualified equity release adviser who can give you proper regulated advice.

Free, no obligation initial discussion
Qualified equity release specialist
Equity Release Council member advisers
We stay in touch throughout the process
No pressure — take as long as you need
Call 0844 884 9748Send an enquiry

Later life lending options explained

There are several different products available depending on your age, income, and what you want to achieve. A specialist adviser will recommend the right one for you.

Lifetime mortgage

From age 55

The most popular form of equity release. You borrow a lump sum (or drawdown facility) secured against your home. No monthly repayments are required — interest rolls up and the loan is repaid when you die or move into long-term care. You retain full ownership of your home.

  • Borrow typically 20–60% of your home's value
  • No monthly repayments required
  • You remain the owner
  • Protected by Equity Release Council standards
  • No negative equity guarantee

Retirement interest-only mortgage (RIO)

No upper age limit

Similar to a standard interest-only mortgage but with no fixed end date. You pay the interest each month (keeping the balance the same) and the capital is repaid on death or move to long-term care. Requires proof of sufficient retirement income to service the interest.

  • Monthly interest payments required
  • Balance stays the same throughout
  • Lower overall cost than a lifetime mortgage
  • Available from mainstream lenders
  • No fixed term

Home reversion plan

From age 60–65

You sell a share (or all) of your home to a provider in exchange for a lump sum or regular income, while retaining the right to live there rent-free for life. You receive less than market value for the share sold. Less common than lifetime mortgages.

  • Sell a percentage of your property
  • Right to live there rent-free for life
  • Lump sum or regular income
  • No interest to roll up
  • Inheritance is reduced by the share sold

Important: Equity release is a significant, long-term financial commitment that will reduce the value of your estate and may affect your entitlement to means-tested benefits. It is not right for everyone. Always take qualified specialist advice, involve your family in the decision, and consider all alternatives first — including downsizing or other forms of borrowing.

Who considers equity release?

Later life lending is used for many different purposes — all valid, as long as the full implications are understood.

Supplement retirement income

Boost a pension or savings that aren't stretching as far as expected.

Home improvements

Fund adaptations, maintenance, or improvements to stay comfortable at home.

Help children onto the property ladder

Gift a deposit to a son or daughter who can't save quickly enough.

Clear an existing mortgage

Pay off a mortgage reaching the end of its term when income doesn't support a new deal.

Pay for care costs

Fund home care or care home fees without selling the property.

Inheritance tax planning

Work with a financial planner to reduce the estate's IHT liability.

Later life lending FAQs

What is equity release?
Equity release is a way for homeowners aged 55 or over to access the equity (value) tied up in their property without having to sell it or move out. The two main products are lifetime mortgages (where you borrow against your home with interest rolling up) and home reversion plans (where you sell a share of your home). Both allow you to remain in your property.
Is equity release safe?
Products approved by the Equity Release Council come with important protections, including a no-negative-equity guarantee (you will never owe more than your home is worth) and the right to remain in your property for life. That said, equity release significantly reduces the value of your estate and can affect means-tested benefits. It is essential to take specialist advice and involve your family in the decision.
How much can I release?
The amount depends on your age, your property value, and the product. With a lifetime mortgage, older applicants can typically release a higher percentage. As a rough guide, a 60-year-old might release 25–30% of their property value; a 75-year-old might release 40–50%. A qualified equity release adviser will give you a precise figure based on your circumstances.
Will equity release affect my benefits?
Releasing equity and receiving a lump sum can affect means-tested state benefits such as pension credit, council tax reduction, and help with care costs. A specialist adviser will assess your benefits position before making any recommendation and may suggest taking income in drawdown rather than a lump sum to minimise the impact.
Can I still leave an inheritance?
Yes, in many cases. Most modern lifetime mortgage plans offer an inheritance protection guarantee, which ring-fences a percentage of your property's value to pass to your family. Interest rates and the amount released affect how much remains. A specialist adviser will model different scenarios so you can make an informed decision.
Why do you refer rather than advise on equity release directly?
Equity release advice requires a specialist qualification — the CeMAP alone is not sufficient. Advisers must hold the Certificate in Equity Release (CeRER) or equivalent. We are not currently authorised to give equity release advice directly, so we refer clients to trusted, fully qualified equity release specialists. This means you get the right specialist advice rather than a generalised opinion.

You might also consider

Capital Raising Mortgages →

If you still have an income, a standard capital raising mortgage may be cheaper than equity release.

Second Charge Mortgages →

A second charge may suit homeowners who can afford monthly repayments and want to minimise long-term cost.

Retirement Interest-Only Remortgage →

Switch to a RIO mortgage — interest-only with no end date, repaid on death or care.

Areas we cover:BexleyBromleyGreenwichCroydonBarking & DagenhamHaveringLewishamNewhamKentSurreyEssexBerkshireView all areas →

Talk to us — we'll refer you to the right specialist

We take the time to understand your situation first, then connect you with a qualified equity release specialist who can give you proper regulated advice. No pressure, no rush.

Send an enquiryCall 0844 884 9748

Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits. A qualified equity release specialist will explain all the implications before making any recommendation.

Mortgage International is a trading style of Mortgage Int Ltd, an Appointed Representative of The Right Mortgage Ltd, which is authorised and regulated by the Financial Conduct Authority. Equity release advice is provided by a separately authorised specialist.

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