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Equity Release & Lifetime Mortgages

Unlock the Value in Your Home

Equity release enables homeowners aged 55 and over to access tax-free cash from the value of their property without having to move home.

Many people choose equity release to:

  • Fund home improvements and renovations
  • Transform their garden or outdoor space
  • Repay an existing mortgage
  • Gift money to children, grandchildren, or loved ones
  • Clear outstanding debts, loans, or credit cards
  • Pay for a dream holiday
  • Supplement retirement income
  • Improve financial flexibility and quality of life in later years

Expert Later Life Lending Advice

At ABN Mortgages, we provide expert, FCA-registered advice on equity release and later life lending solutions.

Our experienced advisers take the time to understand your circumstances and objectives before recommending the most suitable option for you. We are committed to providing clear, straightforward guidance and personal service throughout the process, helping you make informed decisions with confidence.

Understanding Lifetime Mortgages

A lifetime mortgage is the most common form of equity release. It allows you to borrow against the value of your home while retaining ownership.

Interest Roll-Up Lifetime Mortgage

  • Borrow a lump sum or access funds through a drawdown facility
  • No mandatory monthly repayments
  • Interest is added to the loan balance over time
  • The loan and accumulated interest are usually repaid when your property is sold or after you move into long-term care or pass away

Interest-Paying Lifetime Mortgage

  • Borrow a lump sum secured against your property
  • Make monthly or ad hoc interest payments
  • Helps reduce the amount of interest that builds up over time
  • The loan balance is repaid when the property is sold

Ways to Access Your Equity

Lump Sum

You can:

  • Take the full amount at the start of the mortgage term; or
  • Take a smaller initial amount with a drawdown facility available for future use

Drawdown Facility

  • Access funds as and when required
  • Interest is only charged on the money you have actually withdrawn
  • Can help reduce the overall cost of borrowing

Important Things to Consider

FCA Regulation

Lifetime mortgages are regulated by the Financial Conduct Authority (FCA). Providers and advisers must follow strict rules designed to ensure products are explained clearly and fairly.

Alternative Options

Before proceeding with equity release, it is important to consider whether other solutions may be more suitable, such as:

  • Downsizing to a smaller property
  • Taking in a lodger
  • Using savings or investments
  • Seeking financial assistance from family members

Impact on Your Estate

Releasing equity from your home will reduce the value of your estate and may reduce the inheritance you leave to your beneficiaries.

Means-Tested Benefits

Accessing cash from your property could affect your entitlement to certain means-tested state benefits. Your adviser will discuss this with you before any recommendation is made.

Securing Debt Against Your Home

Think carefully before securing existing debts against your property. Extending repayment terms may increase the overall cost of borrowing.

This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.

Frequently Asked Questions

How Much Equity Can I Release?

The amount available depends on factors such as:

  • Your age
  • Property value
  • Property type
  • Health and lifestyle (for some plans)
  • The lender’s criteria

Are There Any Fees?

Fees may include:

  • Valuation fees
  • Arrangement fees
  • Solicitor’s fees
  • Adviser fees

Your adviser will explain all costs before you proceed.

Will I Pay Tax on the Cash Released?

No. Funds released through equity release are generally tax-free.

However, depending on your circumstances, releasing funds may affect your tax position, benefits entitlement, or inheritance tax planning. Professional advice is recommended.

Are There Property Restrictions?

Yes. Some property types may not be eligible for a lifetime mortgage. Eligibility will be confirmed during the application process.

Do I Still Own My Home?

Yes. You remain the legal owner of your property and can continue living there until you move into long-term care or pass away, provided the terms of the mortgage are met.

Can I Move Home?

Many lifetime mortgages are portable, meaning they can be transferred to a new property, subject to lender approval and the new property meeting lending criteria.

If the new property is not acceptable to the lender, you may need to repay the mortgage and early repayment charges could apply.

Can I Repay the Mortgage Early?

Some plans allow full or partial repayment. Early repayment charges may apply and can be significant.

Can I Borrow More Later?

Depending on your lender and plan, further borrowing may be available in the future, subject to lending criteria and a property valuation.

How Is a Lifetime Mortgage Repaid?

The mortgage is typically repaid when:

  • You move permanently into long-term care; or
  • You pass away

For joint applications, repayment usually occurs after the last surviving borrower has moved into care or passed away.

The property is normally sold and the proceeds are used to repay the outstanding loan and any accrued interest.

Can I Still Leave an Inheritance?

Yes. Although a lifetime mortgage reduces the value of your estate, any remaining equity after the mortgage has been repaid will form part of your estate and can be passed on to your beneficiaries.

Why Consider a Lifetime Mortgage?

A lifetime mortgage may help you:

  • Access the value tied up in your home
  • Remain in the property you love
  • Improve your retirement lifestyle
  • Support children or grandchildren financially
  • Enhance your financial flexibility in later life

It is important to receive regulated, independent advice before making any decision.

A lifetime mortgage may affect your entitlement to means-tested benefits and reduce the inheritance you leave behind.

Please contact me for any questions you may have or to arrange an initial meeting.

This can be by phone, facetime or email

Andrew Brabham-Neil
Member of the Equity release council 

https://www.equityreleasecouncil.com/adviser/andrew-brabham-neil/

A lifetime mortgage is a long-term commitment which could accumulate interest and is secured against your home. Equity release is not right for everyone and may reduce the value of your estate.

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ABN Mortgages is a trading style of ABN Mortgages Limited, which is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority.  We are entered on the Financial Services Register under firm reference number 10356054.

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