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How To Use Your Home To Meet Your Needs

Why you should unlock tax-free cash with equity release

More and more UK homeowners at or near retirement are seeking ways to free up cash to fund their needs, but finding a reliable financial solution can be difficult.

Your Choice is here to save you time and energy. Offering an award-winning advice service, we explain how equity release works and compare your financial solutions to find your best match.

Whether you are looking for ways to boost your disposable income, improve your home, or help your loved ones financially, your property wealth could be the key to achieving your ambitions.

Use our online calculator today to see how much you could release!

How much tax-free cash could be available?

5 reasons why equity release could be your solution:

  • Any funds you release are tax-free.
  • Retain 100% ownership or your home.
  • Your home cannot fall into negative equity.
  • Results are instant and no credit check.
  • No pushy salespeople, you're in total control (rated 'Excellent' on Trustpilot)

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Why is releasing equity so popular?

Equity release can be used for all sorts of different things and this is why it is such a popular product.
It’s your choice, you can:

  • Make those home and garden improvements you’ve been dreaming of for years.
  • Lift the weight of required monthly repayments and pay off your existing mortgage. This could give a boost to your disposable income to enjoy life’s little luxuries.
  • Help loved ones financially. Equity release could enable you to give your family a boost, from gifting an early inheritance, help pay off university fees, house deposits to financing a wedding!
  • Enjoy life to the full and fund your goals – buy that new car, caravan, motorhome or fund your dream holiday.

We've helped thousands of customers access their property wealth with equity release.

What is equity release?

Equity release comes in two main forms – Lifetime Mortgages and home reversion plans. Your Choice Equity Release only advise on Lifetime Mortgages as with a Lifetime Mortgage you retain full homeownership.

With a Lifetime Mortgage, unlike other forms of equity release, you can release tax-free cash from your home whilst retaining full ownership of your home, and without having to commit to making monthly repayments.

Interest is charged on the amount released, with interest rates typically fixed for life. If you do not choose to make repayments over the course of the loan, then the amount borrowed, plus interest is simply repaid at the end of the term, often via the sale of the property.

What is the process for equity release?

  1. Use our free equity release calculator to find out how much could be available to you.
  2. You will get instant results and we will post you a copy of our guide to equity release.
  3. A member of our friendly Information Team is on hand to answer questions you may have either by telephone, email or post.
  4. If you are ready, you can have a free appointment with a qualified equity release specialist.

Equity release FAQs

Your questions answered

Equity release is becoming increasingly popular, as UK homeowners look to take advantage of their property wealth to fund their later life ambitions. However equity release products are still not widely understood and are often the subject of decades old myths concerning safety, how much you can release and how much you could owe. Below we have listed some of the main questions our customers have when considering releasing equity.

If you're over the age of 55, then you could be eligible for the most common form of equity release, known as a Lifetime Mortgage. This product enables you to access tax-free cash from your home whilst still maintaining full home ownership. Lifetime Mortgages are becoming increasingly popular, as you can take advantage of your property wealth to fund your later life ambitions, with the option of not making any repayments during your lifetime.

As you are unlocking value from your home however, it is worth noting that releasing equity could impact the value of your estate and your entitlement to means-tested benefits. Our advisers will talk you through this and provide you with a personalised illustration.

The amount that you can borrow depends on the value of your home and the age of the youngest homeowner on the deeds. In some cases it could also be impacted by your health.

To be eligible the youngest homeowner must be aged 55 or over, and the property must be worth at least £70,000.

Based on your personal circumstances we will work to find the plan that best suits you.

There are a number of different types of Lifetime Mortgage, based on the way you release the funds and whether or not you wish to make voluntary repayments during your lifetime.

Lifetime Mortgages have no fixed end date and the mortgage balance is due for repayment once the last homeowner on the deeds has either passed away or entered into long-term care.

Typically, this is achieved through the sale of the property.

How much tax-free cash could be available?