How you could use the money tied up in your home:

Imagine receiving a lump sum of tax-free cash to enjoy spending, equity release can provide you with that opportunity. The only caveat is that you must repay any outstanding mortgage that you may have. Here are some of the most popular uses:

CLEARING A MORTGAGE

This is the primary reason that people release cash from their home. It is a condition of equity release to do so and it means that you can benefit from additional disposable income each month.

HOME AND GARDEN IMPROVEMENTS

The second most popular use of equity release is to carry out home improvements. After all, once you retire you will have more time than ever to enjoy your home.

NEW CAR

Buying a new car outright can bring great peace of mind as it reduces some of the problems and unexpected expenses that come with owning an older car.

GIFTS TO FAMILY

Over the past five years more people have been releasing money from their homes to give a gift to loved ones.