Equity Release in Hertfordshire
Equity release advice for homeowners across Hertfordshire, including St Albans, Watford, Hemel Hempstead and Stevenage.
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 Hertfordshire are often worth a considerable amount, so equity release can involve large sums, and the effect on your estate can be substantial. It deserves careful thought, and it is not suitable for everyone.
We explain how it works, what it costs and what alternatives to consider, so you can decide in your own time.
Equity release for Hertfordshire homeowners
Some Hertfordshire homeowners look at equity release to pay for care or home adaptations, to help children or grandchildren, or to boost retirement income. Because a lifetime mortgage typically adds interest to the loan each year, the amount owed can grow quickly, and with high-value homes the amounts can become large. A personalised illustration shows the effect over time, and we suggest you review it with your family.
Inheritance planning matters more where estates are larger. Equity release will reduce the value of your estate, and the effect on any inheritance tax depends on your circumstances and the rules at the time, so take advice from a qualified tax adviser or solicitor. It is also a good moment to review your will and your lasting powers of attorney so that your wishes are clear.
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 equity release help me pay for care in Hertfordshire?
Some people use it to help fund care or adaptations. There may be other ways to meet care costs, and your local authority can explain what support may be available, so look at all your options.
Should I update my will if I take equity release?
It is sensible to review it, since equity release changes the value of your estate. We recommend you speak to a solicitor about your will and powers of attorney.
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
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