Equity Release for Over 55's - Unlock Your Home's Potential for a Better Future
How much equity could you release?
Learn how homeowners over the age of 55 can use equity release to unlock the potential of their home equity to enhance their financial options during retirement.
Let us calculate how much equity you could release
To find out how much tax-free cash you could release from your home, simply fill in your details below.
Please note, this form does not provide an instant online quote. We can access a wide range of lenders to find the best equity release products for you, unlike many online calculators that are limited to specific lenders and rates. Hearthstone Mortgages (Hearthstone Advisory Ltd) is an FCA-authorised independent company.
- Rest assured, our freedom to work with any lender ensures we secure the most favourable deal for you.
- We don't have restrictions on who to approach to work with.
- Just fill in a few details, and we'll scour the market and get back to you as soon as possible.
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What our customers think
What you need to know about Equity Release
Why don't we provide an online equity release calculator?
Many other equity release companies offer products tied to specific interest rates as part of their equity release products. We are an independent company and we don’t have restrictions on which lenders we work with. This allows us to find the best equity release products for you. When you submit your details via our online form, we scour the market for the best deal, and as deals change constantly, we can’t practically do this with an online calculator.
Are you eligible for equity release?
You are eligible for equity release if you are aged 55 or over. Any existing mortgage on your home must be repaid. Homeowner must be over 55 and UK resident (excl. NI). If you’re applying as a couple, both you and your partner must be aged 55 or over.
Do you payback equity release?
You do payback the equity you release from your property. You can pay back the loan at any time, however early repayment charges will be payable for a set amount of time, usually between 8-15 years.
You may also be able to make overpayments or voluntary payments during the term of your loan without penalty. However, if the loan is repaid on death, or upon entering long term care, then no early repayment charges will apply.
Equity release requires paying off any existing mortgage.
How much equity could you release?
How much equity you can release from your property is determined by the value of your property, your age and your personal circumstances. The maximum loan to value you can release is 55%.
Please note: Equity release involves securing a loan against your home and requires a detailed application process. It’s important to be aware that this decision could impact your homeownership, especially if long-term care is needed in the future. We encourage discussing this option with a financial advisor to determine how it fits with your overall financial strategy
What does martin Lewsi think about Equity Release?
Martin Lewis states that equity release can be a good financial product if you require the funds and are not concerned about the impact of leaving an inheritance. However, he says equity release can be expensive and that you should always consider downsizing first, as he believes it is the easiest way to release equity from your home.
Do you get taxed on equity release
The short answer is no, there’s no direct tax to pay on the money you receive from an Equity Release plan. When you borrow against your home with a Lifetime Mortgage, it’s not classed as income so there’s no income tax to pay on the money.
What our customers think
Working with Ajay & Jordanne is one of the best decisions we have made. Their knowledge in property and mortgages is unbeatable and they provide the highest quality service.
They are honest, ethical and willing to go a thousand miles above and beyond and I have full faith that they will continue to be the best in the market.
Let us find an Equity Release mortgage for you
Jordanne is our equity release expert and is available Monday to Friday, for a no obligation consultation.
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Europa House Marsham Way
Gerrards Cross SL9 8BQ. - 01753 463391
- enquiries@hearthstonemortgages.co.uk
THINK CAREFULLY BEFORE SECURING DEBTS AGAINST YOUR HOME OR PROPERTY. Your home or property may be repossessed if you do not keep up repayments on your mortgage. Hearthstone Mortgages is a trading name of Hearthstone Advisory Limited, which is authorised and regulated by the Financial Conduct Authority (FRN: 945282). Hearthstone Advisory Limited is a company registered in England and Wales (Company Number 10563329) with its registered office at Europa House, Marsham Way, Gerrards Cross, Buckinghamshire, SL9 8BQ. View us on the FCA register here. We are a credit broker, not a lender. We may receive commissions that will vary depending on the lender, product or other permissible factors. The nature of any commission model will be confirmed to you before you proceed.
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