Equity Release Advice
From the Southsea seafront to the water meadows of Winchester, Hampshire is full of people who've spent decades paying off a home they love. If you're 55 or over, equity release could let you unlock some of that value as tax-free cash without having to move. We visit homeowners across Southampton, Portsmouth, Winchester and Bournemouth.
Your local adviser: Dylan Cripps, BA (Hons), CeRER, CeMAP, based in Hampshire and offering home visits across the county.
Free, no-obligation chat
Tell us what you need the money for and we'll explain your options.
A local adviser who comes to you
Dylan lives locally and visits homes across Hampshire and the Bournemouth area. Phone and video work too.
Family welcome
Bring a son, daughter or friend along. We'd encourage it.
My Later Life is FCA-regulated (ref 976283) and a member of the Equity Release Council. Your details are handled in line with our privacy policy.
Hampshire is really several property markets in one. Winchester and the villages of the Itchen and Test valleys are among the most expensive places to live in the South East. Southampton and Portsmouth are far more affordable, partly because both cities have lots of flats and terraced streets that pull their averages down. Bournemouth, just over the Dorset border, sits somewhere in between.
Source: ONS / HM Land Registry UK House Price Index. City averages include flats, so family houses are usually worth noticeably more.
Whatever your home is worth, the reasons people talk to us are similar: topping up a pension, clearing an interest-only mortgage, adapting a house for later life, or helping children and grandchildren buy somewhere nearby rather than moving away.
Put simply, you turn part of what your home is worth into tax-free cash and carry on living there. It's available to UK homeowners aged 55 and over, and there are two kinds of plan.
Most popular
This is what most of our Hampshire clients choose. You borrow against your home and keep full ownership. Interest is added each year unless you pay some of it as you go. You can take a lump sum, or a smaller amount plus a drawdown reserve to use later, so you only pay interest on what you've actually taken.
Alternative option
You sell all or part of your home to a provider for less than its open-market value, and live there rent-free for the rest of your life. It's less common, and we'll tell you honestly whether it suits you.
Some Hampshire homes need a closer look. Thatched cottages in the villages around Winchester and the New Forest, listed buildings in conservation areas, low-lying coastal homes where flood risk is checked, and retirement flats in Bournemouth and along the coast are all accepted by fewer lenders. It rarely rules you out, but it's exactly why specialist advice matters. We check these points at the very start.
Southampton is a working port city, from the cruise terminals and Ocean Village to the old walls around the Bargate. The city average looks modest, but family homes in Bassett, Upper Shirley, Highfield and Bitterne Park are often worth a good deal more, and many owners have been there for decades. We also see plenty of clients just outside the city in Chandler's Ford, Hedge End, Netley, Totton and Romsey, where people often want to help grown-up children buy close by.
Portsmouth is Britain's only island city, with a proud naval history that runs from the Historic Dockyard to the Spinnaker Tower. Southsea's Victorian terraces and seafront flats sit alongside larger family homes in Drayton, Farlington and Cosham on the slopes of Portsdown Hill. Much of the island is low-lying, so some lenders look at flood risk. Plenty of homeowners here have an armed forces or dockyard pension, and we take your full income picture into account. We also cover Fareham, Gosport, Havant, Waterlooville, Emsworth and Hayling Island.
England's ancient capital, with its cathedral, College and King Alfred watching over The Broadway, is one of the most expensive places to live in Hampshire. Homeowners in Hyde, Fulflood, St Cross, Stanmore and Oliver's Battery can often release large sums. Period, listed and conservation-area homes are common here, and the surrounding villages (Kings Worthy, Twyford, Alresford, the Itchen Valley) have their share of thatched cottages, so we check lender criteria early. We also cover Romsey, Stockbridge and the edge of the South Downs.
Strictly speaking Bournemouth has been in Dorset since 1974, but it's only a short drive from the New Forest and we cover it just the same. With miles of sandy beaches and a large retired community, it's one of the busiest equity release areas on the south coast. We advise clients in Southbourne, Boscombe, Westbourne, Talbot Woods and Queen's Park, plus Christchurch, Highcliffe and Poole, including Parkstone, Broadstone and Canford Cliffs. Bournemouth has lots of retirement and leasehold flats, so we check the lease and lender appetite on day one.
Other areas we cover: the New Forest (Lymington, New Milton, Brockenhurst, Ringwood, Milford on Sea), Eastleigh, Basingstoke, Andover, Alton, Petersfield, Fleet, Ferndown and Wimborne.
Home visits across Hampshire
From Winchester's cathedral streets to the Southsea seafront and over the border to Bournemouth, your adviser comes to you. Choose your area and book a free, no-obligation appointment at home or by phone.
Also covering the New Forest, Eastleigh, Fareham, Gosport, Havant, Basingstoke, Andover, Romsey, Christchurch and Poole.
"Hampshire is a county where one size definitely doesn't fit all. A thatched cottage outside Winchester, a Victorian terrace in Southsea and a retirement flat overlooking Bournemouth beach all need a different approach, and different lenders. That's why we take the time to visit people at home, get to know the property and the family, and explain every option in plain English. Many of our Hampshire clients come to us through a friend's recommendation, and that tells me we're getting it right."
Graham Clelland
Equity Release Director, My Later Life
The biggest factors are the age of the youngest homeowner and what your property is worth. Health and lifestyle count too, and some lenders will offer more if you have certain medical conditions.
Example: Someone aged 65 might be offered about a quarter of their home's value, and at 75 it could be a third or more. On a £470,000 home in Winchester, that could mean roughly £115,000 to £160,000 tax-free. On a £300,000 family semi in Southampton or Portsmouth, it might be around £75,000 to £100,000. These are ballpark figures only. Your adviser will give you an exact number.
Interest is the main cost. With a lifetime mortgage the rate is normally fixed for life, but it compounds, which means you're charged interest on interest that has already built up.
A simple example: say you borrowed £100,000 at a fixed 6% a year and made no repayments at all. Here's roughly what you'd owe:
That's just an illustration. Your rate will depend on the lender, your age and how much you take. Paying even a bit of the interest each year can slow things down a lot.
On top of interest there can be an advice fee, a lender's arrangement fee, a valuation fee and solicitor's costs. You'll get every one of these in writing before you agree to anything. [Insert our fee wording here.]
Every plan we recommend meets the Equity Release Council standards. That gives you the right to stay in your home for life, a no-negative-equity guarantee so you'll never owe more than the house is worth, the right to move and take your plan with you, and penalty-free partial repayments on new plans, within set limits.
There are downsides too, and you need to think them through properly. There'll be less to leave to your family. Means-tested benefits such as Pension Credit could be affected. Paying the plan off early can trigger a hefty early repayment charge. And if you don't make any repayments, the balance can grow quickly.
For an independent view, the MoneyHelper guide to equity release is well worth a read.
Good advice includes asking whether you need equity release in the first place. We'll always look at:
Have a chat with us
Ring 0207 100 4255 or ask us to call you back. It's free, with no obligation, and we'll start by asking what the money is for.
Meet Dylan, your Hampshire adviser
Dylan comes to your home at a time that suits you. Bring a family member along if you like. We'd actually encourage it.
Recommendation in writing
We search the whole market and explain the costs and risks without the jargon.
Application
You pick your own solicitor, we handle the paperwork, and nothing moves forward until you're happy.
Funds released
Most cases complete within 6 to 8 weeks, then the money goes into your account.
Dylan Cripps
Senior Equity Release Adviser
BA (Hons) CeRER CeMAP
Dylan is one of our Senior Equity Release Advisers and is now based locally, so he can visit you at home anywhere in Hampshire, from Southampton, Portsmouth and Winchester to the New Forest and over the border into Bournemouth. He holds the CeRER qualification in equity release and the CeMAP qualification in mortgage advice, so he can compare lifetime mortgages with other options such as retirement interest-only mortgages, not just one type of product.
Clients value Dylan's patient, thorough and transparent approach. He often helps people who are:
Because he lives in the area, Dylan can usually arrange a free home visit at a time that suits you, or talk by phone or video if you prefer. Read more about Dylan.
Google Review.
I had an excellent experience with MyLaterLife during what was initially a very stressful period with a looming mortgage deadline.
From the outset, the whole process was handled with professionalism, patience and reassurance. Everything was explained clearly, communication was excellent, and I always felt that my questions and concerns were taken seriously.
A special mention has to go to Dylan, who was outstanding throughout and made the whole experience feel far calmer and more manageable than I ever expected.
After more than 30 years in my family home, I’ve successfully downsized to a beautiful two-bedroom flat and am now happily enjoying my retirement and my garden.
I’m extremely grateful to MyLaterLife for helping me through such an important transition and would wholeheartedly recommend them to anyone considering their later-life mortgage options.
Whole-of-market advice · FCA-regulated · Equity Release Council member · Local home visits across Hampshire
Book a Home Visit With DylanYes. Our advisers visit homes across Hampshire, including Southampton, Portsmouth and Winchester, as well as Bournemouth, Christchurch and Poole. If you'd like to talk on the phone or by video first, that's fine too.
Yes. Bournemouth, Christchurch and Poole sit right on the Hampshire border, and our advisers cover them just as they do Southampton or the New Forest.
Often, yes. Fewer lenders accept thatched roofs and listed buildings, and they may look closely at insurance and condition, but there are options. We check this at the start so you know where you stand.
Sometimes. Retirement and sheltered flats are accepted by a smaller number of lenders, who look at the lease, the service charge and resale value. We'll check this before anything else.
That depends on the youngest homeowner's age, what the house is worth and sometimes your health. Prices vary hugely between Winchester, Southampton, Portsmouth and Bournemouth, so our calculator is the quickest way to get an estimate. Your adviser will then confirm the exact figure.
Yes, provided the money you release is enough to clear what's left on your mortgage. It's one of the most common reasons people get in touch, particularly those whose interest-only mortgage is reaching the end of its term.
It can affect means-tested benefits like Pension Credit or Council Tax Support. We'll check this before we recommend anything.
Of course, and we'd encourage it. A lot of our Hampshire clients have a son, daughter or close friend sitting in with them.
Usually 6 to 8 weeks from application to the money arriving, depending on the valuation and the solicitors.
Whether you're in Southampton, Portsmouth, Winchester or Bournemouth, the first conversation costs nothing and you're under no obligation. If equity release isn't right for you, we'll tell you.
Call 0207 100 4255 Use Our Online FormEquity release is a big decision, and it should feel like your decision. Take your time, ask as many questions as you need to, and involve your family. We're here to give you the full picture, so whatever you choose, you know why you chose it.
A lifetime mortgage is a loan secured against your home. It will reduce the value of your estate and may affect your entitlement to means-tested benefits. Check that this mortgage will meet your needs if you want to move or sell your home, or want your family to inherit it. If you are in any doubt, seek independent advice. [Insert fee disclosure.]
Find out instantly how much equity you could release...
This information is a guide only and should not be relied on as a recommendation or advice that any particular Equity Release product is suitable for you.
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