The Facts:

1 Equity release is available to those aged between 55-95, who own a property worth at least £70,000

2 You can have an existing mortgage. The money you release can be used to pay this off first

3 With a lifetime mortgage, you still own your home and you can live there as long as you want to

4 If leaving a guaranteed inheritance for your family is important to you, there are plans that allow you to do this

5 You can move home with Equity Release Council approved plans, subject to criteria

6 Equity release is regulated by the Financial Conduct Authority. Key Retirement advise on plans approved by the Equity Release Council

7 You will never owe more than the value of your home with plans approved by the Equity Release Council

8 Added peace of mind as your solicitor will be involved to ensure you understand the legal elements

9 Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits

10 With a lifetime mortgage, interest rates can be fixed for life