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Free Equity Release Guide · Online or by Post
Free Equity Release Guide – Read Online or Request a Printed Copy
Thinking about equity release but not sure where to start? Our free equity release guide explains how lifetime mortgages work, who may qualify, how interest can build up, the potential effect on inheritance and benefits, and the alternatives you should consider before making a decision.
You can read the guide online for free, or if you prefer something you can sit down with and read at your own pace, My Later Life can send you a printed equity release brochure through the post free of charge.
There is no obligation to take out equity release simply because you request or read our guide.
What does our free equity release guide cover?
Our guide has been created for UK homeowners who want a clearer understanding of equity release before deciding whether to speak to an adviser.
It explains important topics including:
- What equity release is
- How lifetime mortgages work
- Who may qualify for equity release
- How much you may be able to release
- Lump-sum and drawdown lifetime mortgages
- Home reversion plans
- How equity release interest can build up
- Potential costs and fees
- The possible effect on your inheritance
- How equity release may affect means-tested benefits
- Early repayment charges
- Moving home with a lifetime mortgage
- Equity Release Council protections
- The No Negative Equity Guarantee
- Alternatives to equity release
- The usual equity release application process
- Questions you may want to ask an equity release adviser
The aim is to give you a useful starting point so you can understand the terminology, risks and choices before making any decisions.
Would you prefer a printed equity release guide?
Not everyone wants to read financial information on a phone, tablet or computer.
You may prefer to sit down with a printed guide, make notes, discuss it with your partner or family, or simply keep it somewhere convenient so you can refer back to it later.
That is why My Later Life gives you a choice.
| Option | How it works |
|---|---|
| Read online | Access the equity release guide digitally whenever it suits you. |
| Printed copy | Request a free printed copy to be sent to your home through the post. |
Why read an equity release guide before speaking to an adviser?
Equity release can appear straightforward at first: you own a home, it has built up value, and you want to access some of that money.
But there are important long-term considerations.
Reading a guide first can help you understand the basics and think about the questions that matter most to you.
You may then feel better prepared if you decide to speak to a specialist adviser.
Questions to ask before considering equity release
How much money do I actually need?
Releasing more than you need could result in unnecessary interest building up over time. It can be useful to separate what you need now from money you may want in the future.
Could I use savings or downsize instead?
Equity release should normally be considered alongside other ways of achieving your plans, such as using savings, reducing the amount you intend to spend or moving to a less expensive property.
Do I want the option to make repayments?
Some lifetime mortgage products allow voluntary repayments, which may help reduce the amount of interest accumulating. The rules vary between lenders and products.
How important is leaving an inheritance?
A lifetime mortgage will normally reduce the amount of equity remaining in your property and may therefore reduce the value of your estate.
Could equity release affect my benefits?
Receiving money from your home may affect entitlement to certain means-tested benefits, so this should be considered before proceeding.
Am I likely to move home in the future?
Different lenders can have different property and portability criteria. Your future plans are therefore an important part of choosing a suitable product.
What happens after you read the guide?
Nothing has to happen.
Reading or requesting our guide does not mean you are applying for a lifetime mortgage or committing yourself to taking equity release.
You may read the guide and decide that equity release is not right for you.
If you do want to explore your circumstances further, you can speak to one of our specialist later-life mortgage advisers.
Our advisers can explain your options, look at the alternatives and help you understand what different choices could mean for you.
From a free guide to whole-of-market equity release advice
If you decide that you would like personal advice after reading the guide, My Later Life provides whole-of-market equity release advice.
That means our advisers can consider suitable lenders and products from across the market rather than simply focusing on one provider.
And we do not believe choosing a lifetime mortgage should simply be about finding the lowest headline interest rate.
Your adviser can consider factors such as:
- Interest rate
- How much you need to release
- Property criteria
- Repayment flexibility
- Drawdown options
- Early repayment charges
- Inheritance protection features
- Your plans for the future
The aim is to identify a suitable lender and product for your individual circumstances, rather than simply choosing a plan based on one headline figure.
Free equity release guide: common questions
Is there a free equity release guide?
Yes. My Later Life provides a free equity release guide for UK homeowners. You can read it digitally or request a printed copy to be posted to your home.
Can I get an equity release guide through the post?
Yes. If you prefer a physical copy, you can request a printed My Later Life equity release guide to be delivered to your home free of charge.
Can I read the equity release guide online?
Yes. You can access our digital equity release brochure online if you would prefer to read it immediately.
What should an equity release guide explain?
A useful guide should explain how lifetime mortgages work, eligibility, interest, possible costs, inheritance, means-tested benefits, risks, consumer protections and alternatives to equity release.
Does requesting the guide mean I am applying for equity release?
No. Requesting or reading the guide does not mean that you are applying for a lifetime mortgage or committing yourself to proceed.
What is the difference between equity release and a lifetime mortgage?
Equity release is a broad term for arrangements that allow eligible homeowners to access value tied up in their property. A lifetime mortgage is one type of equity release and involves borrowing against your home while retaining ownership.
Do I need to speak to an adviser after reading the guide?
No. The guide is there to help you understand the subject. If you later want personal advice or want to explore whether equity release may be suitable for you, you can choose to speak to an adviser.
Get your free equity release guide
Start your research in whichever way suits you best.
Read the guide online now, or ask us to send a printed copy to your home free of charge.
There is no obligation to proceed with equity release simply because you request our guide.
This page provides general information and does not constitute a personal recommendation. Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits. A lifetime mortgage is a loan secured against your home. Interest may be added to the loan, meaning the amount owed can increase over time. Equity release is a long-term commitment and early repayment charges may apply. You should consider the alternatives and obtain specialist financial and legal advice before proceeding.
