Free guide to unlocking the cash in your home

Homeowner aged 55-95? You could unlock cash from your home to spend however you like.

More than 21,000 people took out a new equity release plan last year, the most since 2008*. Here are some reasons why equity release could be right for you.

Lowest rates for a decade

Lifetime mortgage interest rates have fallen in recent months to the lowest rates we’ve seen in a decade**, meaning you will pay less interest on the tax-free cash you release from your home.

Property prices have increased

Your house could be worth more than you paid for it. According to Nationwide, the average UK house price has tripled in the last 20 years. On average customers unlocked almost £65,000 from the value of their homes in 2014 using equity release* but you can take anything upward of £10,000.

You can spend the money however you like

Popular uses are to make home and garden improvements, and to help meet day-to-day living costs and everyday bills. Some gift money to their children and grandchildren, while others choose to release it to live life to the full.

Independent advice is important

There are many equity release plans on the market so it’s important to seek impartial expert advice. Take advantage of a free noobligation consultation in the comfort of your own home. Your local adviser will get to know you and discuss alternative options – if equity release isn’t right for you, they will tell you. Equity release will reduce the value of your estate and may affect your entitlement to state benefits.

Increased competition means a better deal

The popularity of equity release means there are more products coming onto the market, boosting consumer choice and flexibility. These include Enhanced Plans, where you could qualify to borrow a greater amount (based on certain health and lifestyle conditions); Interest Payment Plans where you can opt to pay some or all of the interest on your loan with regular payments; and Protected Plans, which can guarantee an inheritance for your family.

FREE Daily Mail guide

The Daily Mail, in partnership with Key Retirement, has produced a free equity release guide. This guide is a great starting point to finding out more about how you could unlock the cash in your home. This is an equity release plan. To understand the features and risks, ask for a personalised illustration. Unless you decide to go ahead, our service is completely free of charge, as our typical advice fee of 1.65pc of the amount released would only be payable on completion of a plan. *Equity Release Council Report, January 2015 ** Excludes interest payment plans. † Nationwide House Price Index June 2015.