Equity Release 

Quest Finance Ltd trading as Quest Finance are an Appointed Representative of HL Partnership Limited which is authorised and regulated by the Financial Conduct Authority. Quest Finance Ltd are registered in England and Wales. Registered No: 12267927. Registered Office: 21 Laneham Close, Doncaster, England, DN4 7HX

This is a Lifetime Mortgage. These are only applicable to those 55 and over, and it could affect eligibility to state means-tested benefits and the inheritance you may leave. To understand the features and risks, ask for a personalised illustration. Equity release includes Lifetime Mortgages and Home Reversion Schemes. We can advise and arrange Lifetime Mortgages and will refer to an approved specialist for Home Reversion schemes.

There may be a fee for mortgage advice. The precise amount will depend on your circumstances and will be agreed with you before proceeding but estimate this to be £795.

The guidance and/or information contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK. By submitting an enquiry form you agree that the information provided is true and accurate and that a mortgage advisor may contact you for further information as required.

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Download your FREE Guide. It explains:

  • What is equity release?
  • What could equity release do for you and your family?
  • Is equity release the right decision for you?
  • Things you should consider
  • What are the alternatives to equity release?
  • Frequently asked questions
  • Plus more...
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  • How does equity release work?
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  • What could me and my family use equity for?
  • At what age can I release equity?
  • What are my other options?
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  • Can I release equity if I have a mortgage?

What is Equity Release? 

Equity release is a financial product designed for homeowners aged 55 or older. It allows you to access some of the value tied up in your property, known as equity. Equity is the difference between your home's current market value and any outstanding loans (like a mortgage) secured against it.

There are two main types of equity release products:

Lifetime Mortgages: This is the most common type of equity release. With a lifetime mortgage, you borrow money against the value of your home without having to make monthly repayments on the capital amount. The interest on the loan is typically rolled up, meaning it's added to the total loan amount over time. This can increase the debt you owe quite quickly. However, some lifetime mortgages allow you to make optional interest payments to reduce the overall cost. You will still be able to live in your home for life and retain ownership, though the amount of equity you pass on to heirs will be reduced.

Home Reversion Plans: This is a less common option. With a home reversion plan, you sell all or a portion of your home's ownership to a provider in exchange for a lump sum of cash or a stream of income. You can continue living in your property for life, but you will no longer own it outright. The provider will eventually repossess the home and sell it to recoup their costs, leaving less inheritance for your beneficiaries.

Are you considering releasing the equity in your home?
The release of equity can be used for many purposes. You can do with the money as you wish, including:

  • Get the home and garden improvements you have been wanting for years.
  • Eliminate the stress of large mortgage payments by paying off your existing mortgage. This could increase your disposable income and allow you to spend your money as you wish.
  • Help your loved ones financially. Equity release can help you financially boost your family. It could be used to pay tuition fees, living expenses, contribute to a home deposit or finance a wedding.
  • Live life to its fullest and help you achieve your lifelong dreams. You can buy that car or caravan. Go on the dream holiday. Do whatever you want with the money!

It is important to be aware that releasing equity reduces the value of your estate and could affect your entitlement to means-tested benefits. Talk to one of our equity release advisers to learn more about the features that can help manage risks.

Factors to consider:

  • Equity release requires paying off any outstanding mortgage.
  • Equity released, plus accrued interest, to be repaid upon death or moved into long-term care.
  • Equity release will affect the amount of inheritance you can leave, and may affect your entitlement to means-tested benefits now or in the future.
  • Equity release is a long-term commitment, and it is important to take advice from a qualified adviser.

Our specialist equity release advisers search a range of products to find the right equity release plan for you.
We will explain:

  • The need for advice before releasing tax-free cash from your home. We will advise you to make sure it is the right option for you.
  • All the plans we advise on meet the Equity Release Council standards and come with several protections, including the no negative equity guarantee, which means you’ll never owe more than your home’s value.
  • Why you should always think carefully before securing a loan against your home.

Explore Equity Release with Quest Finance

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