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equity release explained

Considering Equity Release? Are you:

A UK Homeowner?
Is your property worth more than £60,000?
Aged over 55?
Keen to stay in your own home?
Looking to unlock tax free money?
Planning a comfortable retirement?

Then Equity Release could be the way of release money from your home without you having to leave it or downsize. You could spend it on home improvements, helping the family, funding your retirement or that dream holiday…..

Equity Release allows you to unlock tax free cash that is currently tied up in your home without you having to move or make a monthly interest payments. Think of equity release as a reverse mortgage whereby you use money now to do as you wish and a fixed rate of interest is attached to whatever you have taken. The interest then adds on to how much your property owes, usually on a compounding basis, and is paid back only when the last surviving applicant has died or gone into long term care.

However, having said this you can make repayments as and when you want to, within the specified limits set out by each lender. These repayments can also stop and start and increase and decrease to give you greater flexibility.

All of the Equity Release plans include two very important guarantees......

  • A guaranteed right to remain living in the property that you have released equity from, either for life or until you need to go into long term care.

  • No Negative Equity Guarantee - which essentially guarantees that the amount to repay the equity release plan on death or entry into long term care can never exceed the value of the property itself, and so no debt can ever be left behind for your beneficiaries from the equity release plan.

The amount you can borrow will depend on your property value (minimum £60,000) and your age (youngest has to be over 55). Some providers do not have a maximum age limit, so you are never too old to benefit from an equity release scheme.

We only use providers who are members of the Equity Release Council, you can see what this means here. We also cover the whole of the equity release market which allows us to find you the best solution for you and your family.

We believe at Viva Retirement Solutions that if we treat you as if you were a member of our own family – then you will receive the best possible Equity Release advice. In many cases we work alongside your family members to ensure that the equity release solution we provide is right for the whole family. As well as this we have some of the most competitive fees in the market.

Every situation is different and so we can tailor our bespoke advice using many different types of Equity Release plans to your specific situation. Find out more about mortgage types including Lifetime Mortgages here.

It is very important that we weigh up your alternative options, before deciding if Equity Release could be the right thing for you. To find out more about why people take out equity release, please click here.


What Our Equity Release Customers Say....

I wanted to move an existing equity release mortgage to a new property. Russell was extremely helpful in advising me and ultimately sort out a better option for me.  Russell​ was extremely helpful all the way through the process going above and beyond my expectations.

Mrs S, Buckinghamshire, 23/11/23

Katie has patiently supported me for several months, as I have changed my mind, and considered moving house, before finally deciding to arrange Equity Release on my current home. It has been a difficult time of my life, and her clear , professional advice has been invaluable.

Mrs W, 13/10/23, Sussex

I am having a hip replacement on October 9th. This would not have been possible without equity release​ and Dawn's valuable advice as my insurance cover did not include it since I have had arthritis since I was in my thirties and it would have too expensive to have that level of insurance.

Mr C, 4.10.23, Yorkshire

Katie organised a video linkup, for our initial meeting, as I cannot visit her office. Her professional, kind manner was reassuring. She gave an hour of her time, free of charge, and replied to my emails very quickly. She prepared the paperwork for Equity Release on my current home and remained calm and helpful, when i changed my mind , and decided to sell my house, and move to a cheaper area. She is willing to organise Equity Release on the new property, which will greatly increase my buying power. She explains why somethings are not possible, and has immense patience.

Mrs W, 9.8.23, Sussex

I found myself in a situation I never expected to be in. My father passed away and left the family home I grew up in to my brother and myself….but there was money owing on the property. To keep the property in the family I needed to raise 150K and repay the loan. Dawn​ helped me understand the whole procedure, which was initially very intimidating. I never expected to be in a position that would require me needing equity release,​ especially at my age, 56. I can’t thank her enough.

Mrs K, 3.10.23, Yorkshire

David gave us initial advice without being pushy and then when we decided to take the equity release route he was quick, efficient, communicative and general very amenable and helpful.

Mr H, 16.6.23, Leicestershire

Dawn has helped me throughout the equity release process from start to finish. A very personable and conscientious individual with excellent knowledge of the whole process.

Mr S, Yorkshire, 10.6.23


See more testimonials here

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