Equity Release in Harlow
Equity release advice for homeowners in Harlow, Old Harlow, Church Langley and Sawbridgeworth.
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
Homeowners in Harlow who are 55 or over may be able to release some of the value in their home through equity release. It is a serious step with long-term effects, so we encourage you to take your time and to involve your family.
We explain the main types of plan and the risks, and we look at other ways of meeting your needs.
Equity release for Harlow homeowners
Many Harlow homeowners have lived in their homes for a long time and may have paid off their mortgage. Equity release may be an option if you want to improve your home, support family members or increase your income, but you should think about the effect on your estate and on any means-tested benefits, such as Pension Credit. A benefits adviser or an organisation such as Citizens Advice can help you check your position.
If your home is of non-traditional construction or is a flat or maisonette, plan providers have their own rules on which properties they accept, and the lease length matters for leasehold homes. Tell us about your property early so we can see which plans may be available. We also recommend you consider whether downsizing or using other savings might meet your needs at lower cost to your family.
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
Will equity release affect my benefits in Harlow?
It can. Money you release may reduce or remove means-tested benefits. Check your position with a benefits adviser before you decide.
Can I take equity release on a leasehold flat?
Some plans accept leasehold homes, with conditions on the length of the lease. Tell us about your lease early and we can check what may be available.
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
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