Home > Equity Release > Five reasons to seek advice when releasing equity

Five reasons to seek advice when releasing equity

We’ve listed five reasons why it’s essential to seek advice when releasing equity from your home.

Are you considering releasing equity from your home? A lifetime mortgage can help you unlock money tied up in your property, but before you decide, you should seek advice from a specialist adviser to help you make an informed decision. You have to get advice from a qualified adviser to release equity.

1. Get advice tailored to your needs

You can only apply for a lifetime mortgage through a specialist regulated lifetime mortgage adviser. They will check your eligibility and guide you through the options available for you and your family. An adviser will help you understand everything you’d need to know about a lifetime mortgage. They will check you meet the basic criteria for a lifetime mortgage and ask questions to understand your current circumstances including your financial situation and future aspirations. Once they have all the necessary information, they will be able to recommend whether releasing equity from your home is the right option for you.

2. Whole-of-market equity release advice can save you money

Using a whole-of-market lifetime mortgage advice service can also save you a great deal of time and money. A specialist adviser will research all the products in the market and recommend the one that is best value and most suited to your needs. They will find a lifetime mortgage with the most competitive interest rate and the lowest charges by searching the whole market. A specialist adviser can also suggest ways to cut your costs and find products with the right features for you.

3. Protect your estate from additional costs

A lifetime mortgage adviser can recommend products that protect your property from additional costs. For example, when taking out a lifetime mortgage, ideally you need to avoid finding yourself in negative equity. Meaning that the debt you owe exceeds the value of your property. Therefore, it’s vital to take out a plan with a lender approved by the Equity Release Council. These lenders all offer a no-negative-equity guarantee. Provided you continue to meet the terms and conditions of your lifetime mortgage, you’d never have to pay back more than the amount received from the eventual sale of your home. In other words, you will never owe more than your home is worth.

4. Protect your family’s inheritance

If you decide to release equity from your home, you will have less money to pass on to your family as an inheritance. A specialist adviser will take the time to explain how to maximise the value of your estate. For example, some lifetime mortgage plans come with inheritance protection, which enables you to ring-fence a portion of your home's future value in order to guarantee an inheritance for your loved ones.

5. A lifetime mortgage may not be suitable for you

When releasing equity, it is important to review your current and future needs, financial circumstances, family situation, life aspirations and any concerns you may have. A specialist adviser will consider all your options before recommending whether releasing equity is right for you. You might also consider downsizing, using your savings and investments, or choose other forms of borrowing, such as remortgaging your property or getting financial help from your family. This is because using a portion of your home wealth may reduce the value of your estate and could affect your entitlement to means-tested benefits.

Find out how much equity you could release from your home with our equity release calculator.

Is equity release for me?

OneFamily Advice are here to help. For us, it's key that you are aware of the options available to you, and that they are presented in a clear and understandable way. We offer tailored, impartial, whole-of-market advice, so you can always be confident in the decision you make. We will be on hand to answer any questions you may have whilst you are in the comfort of your home.


Give us a call today

Our qualified, expert adviser will be glad to guide you through the process and offer recommendations in a free initial meeting.

Call us on 0800 144 8244* or request a call back.


*Lines are open Monday to Thursday 8am to 6:30pm, Friday 8am to 5:30pm and Saturday 10am to 2pm

Calls may be recorded and monitored for training purposes. Calls to freephone numbers are free from UK landlines and personal mobile phones. With business mobiles the cost will depend on your phone provider. If you'd like to know more, please ask your provider.

Equity release

Try our equity release calculator

See how much equity you could release by entering your details below.


Maximum loan amount:

Important: The loan amounts above are an illustration of the amount you could borrow. The actual amount may vary depending on your individual circumstances. The figures are not guaranteed and do not constitute an offer to lend. The loan amount will need to pay off any existing mortgage secured against the same property.

Liked this article? You may also be interested in...

What is equity release and how does it work?

Equity release can help you turn your property into valuable retirement income...

Read more

How long does equity release take?

Equity release is the process of turning equity into cash that you can spend...

Read more

Meet the OneFamily Advice team

Get to know the advice team who will guide you through the lifetime mortgage process...

Read more

Equity release hub

Supplement your income or help family members onto the property ladder. Find out how equity release works and what you can do with it here.

Read more