Equity release

Unlock tax-free cash from your home.

Call our experts at Age Partnership on 0800 056 1606 to find out more (call charges will vary).

Equity Release Video – Meet David and Linda

Meet David and Linda, the proud owners of 56 Juniper Close.

Now they’re mortgage free and their fledglings have flown, this sprightly pair of 50 somethings were keen to make some changes.

They had plans aplenty. Build that sunroom Linda has always fancied, make that trip to Oz to see David’s brother, help young Jason through Uni, and that was only for starters.

But how were they going to fund it? Their savings would never cover it, and although both can now access their pensions, they wanted to keep that for when they retired. They even considered downsizing but felt they still needed the space for when the kids came to stay.

They were frustrated.

Then eagle eyed David read about a possible solution. It turns out their house might hold the key to their cash concerns.

By unlocking any equity tied up their home, they could release a lump sum or, in several smaller amounts, or as a combination of both.

He gave a local estate agent a call, got the house valued and was pleasantly surprised by the results. As they’d owned their home for a good number of years its value had risen quite a bit and there was a good chunk of equity in it.

David had also discovered that Standard Life had teamed up with equity release specialists Age Partnership to provide an equity release and advice service, so he gave them a call. The team were able to provide some specialist independent advice, explain all the ins and outs, and help David and Linda decide if it might make sense for them.

And the good news was it did. As they were over 55 they were eligible to release a tidy tax-free sum, with the option of making no monthly repayments if they chose not to.

It was just the cash injection they needed and as David and Linda went with a lifetime mortgage, the most popular type of equity release, they still retained 100% ownership of the home they love.

Interested in finding out more about equity release and if it makes sense for you?

  • Watch our short video ‘Equity Release – tackling some misconceptions’
  • Go online at standardlife.co.uk/equityrelease
  • Or, give the Equity Release team a call on 0808 1450 167

We understand people need to be able to access their money when they want to. That’s why we’re working with Age Partnership to provide an Equity Release and advice service. They’re independent specialists who will give you access to plans from providers across the whole equity-release market. If it’s the right choice for you, we can help you release money from your home.

What is Equity Release?

Equity release may involve a lifetime mortgage which is secured against your property or a home reversion plan. To understand the features and risks, ask for your personalised illustration. Equity release requires paying off any existing mortgage. Any money released, plus accrued interest would be repaid upon death, or moving into long-term care.

If you’re 55 or over you could unlock tax-free cash from your home with the help of Equity Release, minus any mortgage you’re still to repay. There are two main types. The most popular option is a Lifetime Mortgage. This is where you continue to own your home after you release money from it. Alternatively you could choose a Home Reversion Plan, where you sell some or all of your home to get a lump sum.

What are the benefits of Equity Release?

  • You get a tax-free cash lump sum
  • Once you’ve paid off your standard mortgage with your lump sum, you can spend the leftover cash on what matters to you
  • With a Lifetime Mortgage you still own 100% of your home
  • The tax-free cash you release from your home doesn't have to be taken as a lump-sum. You can 'draw down' the money as income if you like
  • You don’t have to make any monthly payments on a Lifetime Mortgage, it gets repaid when you die or if you move into long-term care

Things to think about

  • The money you release from your home could affect any means-tested benefits you’re entitled to now or in the future
  • The money you release is paid back after you die, from your estate. This means the size of your estate, and the amount you can pass on to your loved ones, could go down
  • The money you release from your home is a loan, and interest will be repaid when you die or if you move into long-term care
  • You have to take advice to release equity from your home. Initial advice is free, and there is no obligation. If you decide to go ahead the fee will be 2.25% of the amount of money you release from your home (minimum £1,695)
  • If you're looking to find some extra money in retirement, Equity Release isn't the only option. There are lots of alternatives like downsizing your home or taking out a personal loan

Age Partnership will pay Standard Life Client Management an introductory fee if you decide to take out a product. This will be based on a percentage of the product value. Please contact us if you require further information on this.

Try the Age Partnership Equity Release calculator

Simply fill in a few details and find out how much money you could unlock from your property.

Impact of Coronavirus

The safety and wellbeing of our customers and our people is our main priority - therefore home visits will not be possible for the foreseeable future whilst restrictions are imposed. However, we are able to offer our consultations on the phone or by video call instead.

What's next?

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If you're looking for more information we've created a handy brochure that covers everything you need to know about Equity Release.

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Standard Life Client Management Limited is registered in Scotland (SC193444) at 1 George Street, Edinburgh, EH2 2LL). Standard Life Client Management is authorised and regulated by the FCA. Its FCA register number is 435970. Age Partnership Limited (registered in England (5265969) at 2200 Century Way, Thorpe Park, Leeds, LS15 8ZB). Age Partnership is authorised and regulated by the Financial Conduct Authority. Their FCA register number is 425432

Related pages

What is Equity Release?

Equity Release is a way to unlock tax-free cash from your home.

Learn more about the options available >

How does Equity Release work?

Find out how much tax-free cash you could access and understand the costs.

Find out how Equity Release works >

What are the different types of Equity Release?

Learn about Lifetime Mortgages > Learn about a Home Reversion Plan >