Equity Release in Brentwood
Equity release guidance for homeowners in Brentwood, Shenfield, Ingatestone and the surrounding villages.
Clear explanations
Lifetime mortgages and home reversion in plain English
Take your time
There is no pressure to go ahead
Family welcome
We encourage you to involve your family
Homes in Brentwood and Shenfield are often valuable, so releasing equity may involve large sums, and the effect on your estate can be significant. It is a long-term decision that deserves time and careful thought.
We explain how lifetime mortgages and home reversion plans work, what they cost and what alternatives you may wish to consider.
Equity release for Brentwood homeowners
Where homes are worth more, some people consider equity release to help children with a deposit, to pay for care, to improve their home or to boost their income. A lifetime mortgage normally has interest that builds up over time, so the debt can grow quickly, and it will reduce what you leave behind. A personalised illustration shows the effect, and we recommend you read it carefully with your family.
You may also want to think about inheritance tax and how equity release fits with your wider plans, since your estate may change in value. Equity release can interact with your will, so we encourage you to look at your will and your lasting powers of attorney at the same time. If you receive means-tested benefits, equity release may reduce or remove them, so check your position before you decide.
How it works
Initial conversation
We talk about your circumstances and what you want to achieve.
Options and alternatives
We explain equity release and the alternatives, including the risks.
Personalised illustration
If it looks suitable, you receive an illustration showing the costs and features.
Time to think
You can take time to consider it and to talk it through with your family.
Application and legal advice
If you decide to go ahead, a solicitor gives you independent legal advice.
Funds released
The plan completes and the funds are paid out.
For the full guide, see our Equity Release page.
Frequently asked questions
Can I use equity release to help my children buy a home?
Some people do. It reduces your estate and adds a debt to your home, so think carefully, and involve your family. We can show how it would affect you in a personalised illustration.
Does equity release affect inheritance tax?
It can change the value of your estate, but tax treatment depends on your circumstances and may change. Please take advice from a qualified tax adviser or solicitor.
How much money can I release?
It depends on your age, the value of your property and the plan. A personalised illustration will show what may be available and what it would cost over time.
Will I still own my home?
With a lifetime mortgage you keep ownership of your home. With a home reversion plan you sell all or part of it, in return for the right to live there.
Important information
- Equity release may involve a lifetime mortgage or a home reversion plan. To understand the features and risks, ask for a personalised illustration.
- Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits.
- Your home is used as security. It could be at risk if you do not meet the conditions of your plan.
The information on this page is general and is not advice. Advice depends on your personal circumstances.
Equity Release in other areas
Speak to an Adviser
Interested in Equity Release (Brentwood)? Tell us a little about you and we'll be in touch