Once you have received your money, you'll have an ongoing relationship with the plan provider. It will be your responsibility to keep the property insured and well maintained. You need to remember that your property is security for your plan and has to be kept in good condition to preserve its value. You might want to move, although a major reason for people wanting to take out an Equity Release plan is so that they can stay in their own property. With a Lifetime Mortgage, it may be possible to transfer it to your new property or alternatively, under some circumstances, it may make sense to ‘switch’ an existing lifetime mortgage to a new provider; which may save you money. If you are a couple and one of you has to go into long term care or dies, then your partner can stay in the property for as long as they choose. An Equity Release plan is a financial commitment and you will want all the information before you can come to your decision – and enjoy the retirement you deserve! For further information email our Enquiry Centre on enquiries@equityreleasecentral.co.uk

Click on our checklist of items you'll need during the application process.

Equity Release Central.