How much money can I release?

How much you can unlock depends on your age, your home's value, and the plan type. Older applicants and higher-value properties can usually release a larger percentage of the value of your home. Providers typically offer 20-60% of your home's value, but exact amounts are personalised and require a professional quote.

You can feel free to use our equity release calculator to see how much money you can release:

Do I get the money as a lump sum or in smaller amounts?

You can usually choose how to take the money. Some people prefer a single lump sum to cover big expenses like home improvements or clearing debts. Others opt for a drawdown facility, taking smaller amounts over time so interest only builds on the money they've actually used. Many plans also allow a combination of the two—for example, taking an initial lump sum and leaving the rest in reserve for future needs.

How quickly can I access the funds?

The process usually takes 6-8 weeks from application to payout, depending on valuations and legal work. Some straightforward cases may be faster, while more complex situations can take longer.

What are the main costs and fees?

Equity release typically costs between 5% and 7% and that interest builds up over time (compound interest). Advice, valuation, and legal fees may apply. Early repayment charges can be costly if you repay early or move. Some plans include free valuations or allow rolling certain fees into the loan—always check.

What risks should I know about?

• Inheritance impact: Because interest compounds over time, the debt can grow quickly, leaving less—or possibly nothing—for your beneficiaries.
• Benefits changes: Taking a lump sum can push your savings or income over thresholds for means-tested benefits like Pension Credit or Council Tax Support.
• Property market risk: If house prices fall, there may be less value left in your home after repayment, even with a no negative equity guarantee.
• Future changes: Rules, tax treatment, or lender policies could shift, which might affect how your plan works over time.

What alternatives should I consider?

• Downsizing: Martin Lewis (the MoneySavingExpert) strongly advises looking at selling your home and moving to a smaller or cheaper property before committing to equity release. Downsizing can free up cash without taking on compound interest or reducing your estate's value. Even if moving feels disruptive, it's often the simplest, lowest-cost option.
• Family support: Talking openly with family might reveal other solutions. A gift or informal loan from relatives can provide the money you need without the long-term cost of compound interest that builds up on equity release loans.
• Grants or benefits: Before borrowing, check whether you qualify for local authority grants, energy-efficiency schemes, or government benefits that could reduce your expenses or cover the costs you're considering for equity release.
• Standard borrowing: In some situations, a retirement-interest-only mortgage or small personal loan may be cheaper and easier to repay. These options can sometimes meet short-term needs without the same long-term impact on your estate.

How safe is equity release?

Equity release is regulated by the Financial Conduct Authority (FCA). Equity release must be completed using an Equity Release Council member. This is an important safeguard that means you'll have a 'no negative equity guarantee', i.e. you'll never owe more than your home's value. You'll also receive independent legal advice before signing.

Who should I speak to first?

Start with free guidance from Pension Wise or MoneyHelper to understand your retirement options. For tailored recommendations, speak to an FCA-regulated adviser or broker who can compare plans across the market. It's also worth discussing your plans with your family and loved ones to make sure equity release is the right choice for your circumstances.

What's the difference between a lender and a broker?

A lender (like Aviva or SunLife) offers only its own products. A broker like Age Partnership compares plans from multiple lenders to find the one that fits your needs and circumstances.

Can I combine equity release with other retirement income options?

Yes. Some people mix equity release with annuities, pension drawdown, or downsizing to balance financial flexibility with financial security.