Equity Release in London
Equity release advice for homeowners in London, including lifetime mortgages and home reversion plans.
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
London homeowners aged 55 and over may hold a great deal of value in their homes. Equity release can turn some of that into cash or income, but it reduces your estate and carries costs and risks that need careful consideration.
We explain the types of plan, how interest builds up and which alternatives may be worth considering before you decide.
Equity release for London homeowners
Many London homes are leasehold flats, and plan providers have their own rules on lease length and on the building. A short lease, high service charges or planned major works can limit the plans available, so tell us about your lease early. If your home is a freehold house, a wider range of plans may be open, subject to the provider’s criteria.
Because London homes can be very valuable, you may be able to release a large sum, but you may not need to, and a smaller release can mean less interest builds up. Some plans let you take money in stages or pay some interest. We also encourage you to weigh up alternatives, such as downsizing out of London, where a smaller home may leave you with funds and no ongoing interest.
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 take equity release on a leasehold flat in London?
Often yes, but providers have rules on the remaining lease length and the building. A short lease may limit your options, so we check this early.
Do I have to release the maximum amount?
No. You can usually release less than the maximum, and a smaller amount means less interest builds up. We suggest you only take what you need.
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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