EQUITY RELEASE

Helping you make informed decisions to fund long-term care.

For those over 55 who own and live in their own home, releasing equity from property can be used to either pay care fees directly or to invest in an Immediate Needs Annuity.

Choosing Equity Release is an important decision, so it’s important to understand the risks as well as the benefits.

USING YOUR MONEY NOW

Equity Release allows you to access some of the value of your home while you carry on living there. To qualify you need to be a UK home-owner aged 55 or older, typically with a property worth at least £70,000.

With Equity Release, you can access funds and stay living in your home for as long as you want to. You can use the money you release for almost anything you like – including funding your home care fees.

WHAT TO CONSIDER

When considering Equity Release to help fund care fees, you could release a large, single payment and buy a care plan or release smaller sums as and when you need them.

Choosing Equity Release is an important decision, so it’s important to understand the risks as well as the benefits. The main disadvantage of Equity Release is that it does not pay you the full market value for your home. Equity Release can also reduce the amount of inheritance your beneficiaries could otherwise receive. Your tax position and access to benefits could be affected. The specific risks vary with the type of scheme so it is important to seek independent advice.

* Taxation will depend on individual circumstances