Am I eligible for equity release?

EQUITY release is a way for homeowners to access the equity that has built up in their homes as tax-free cash. 

People who are at or approaching retirement who find themselves asset rich, but short on readily accessible funds, might consider it. But are you eligible for equity release? 

Calculate how much you could unlock

The eligibility criteria for can vary depending on the provider and the specific product, which an advisor can take you through in more detail.

However, there are standards which are required from most providers. 

Firstly, you must own the home you wish to release equity from, and it must be worth at least £70,000.

Age is another factor, and the youngest homeowner on the deeds must be at least 55 years old. 

There are two types of , a lifetime mortgage and a home reversion plan.

With a home reversion plan, you must be at least 65 years old.