Know the facts about Equity Release.
As with any financial product, it’s always important to understand exactly what you are committing to and what the exact requirements are. Always discuss your circumstances with an FCA-approved advisor to fully understand all features and risks of the product you are considering.
Releasing equity means a Lifetime Mortgage is secured against your property. This will impact the value of your estate. Although you can still gift your property in your will there may be less inherited value.
Equity release could potentially affect any current and future means-tested entitlement you have to benefits.