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Equity Release Advice in Surrey
Lots of Surrey homeowners are sitting on a house worth far more than they paid for it, while their pension hasn't kept pace. If you're 55 or over, equity release may let you unlock some of that value as tax-free cash without moving out.
We advise people all over Surrey, mostly in Guildford, Woking, Epsom and Ewell. Your adviser comes to your home, looks at the whole market and talks you through every option, including the ones that aren't equity release.
Stay in your home
With a lifetime mortgage the house stays yours. The loan is normally repaid once you pass away or go into long-term care.
Tax-free cash
Usually 20% to 60% of your home's value, depending on age, health and the property.
No monthly payments needed
Many plans let you pay some interest if you'd like to keep the balance down.
Regulated advice
My Later Life is FCA-regulated and a member of the Equity Release Council.
"We have advisers who live and work in Surrey, so when you call us you're speaking to someone who knows the area, not a call centre hundreds of miles away. Whether you're in Guildford, Woking, Epsom or a village in between, we'll come to your home, sit down with you and your family, and talk things through properly. Our job isn't to sell you equity release. It's to make sure you understand every option, including the ones that don't involve borrowing, so you can make the right decision for you."
Graham Clelland
Equity Release Director, My Later Life
Property in Surrey is worth a good deal more than the South East as a whole, and that tends to mean bigger sums are available. Across the South East, the average home was worth about £377,000 in April 2026. In our three main Surrey areas, it's noticeably higher:
Source: ONS / HM Land Registry UK House Price Index.
A more valuable home usually means a lender will offer more at any given age. It also explains why so many people we meet here feel "house rich, cash poor". The money gets used for all sorts: a new kitchen, clearing an interest-only mortgage, or giving a son or daughter a deposit so they can buy somewhere local instead of moving miles 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 the one most of our Surrey clients go for. You borrow against the house but still own it outright. Interest is added to the loan each year unless you pay some of it as you go. You can take one lump sum, or start smaller and keep a drawdown reserve for later, so you only pay interest on what you actually take.
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. Fewer people choose it, and we'll be straight with you about whether it fits.
Some homes in Surrey need a closer look. Flats with shorter leases, houses with big plots or annexes, listed or thatched properties, and homes near the river where flooding is a risk can all be trickier. That doesn't usually rule them out. We know which lenders are happy with them.
Guildford is one of the priciest towns in Surrey, and plenty of homeowners here have watched their property climb in value over 20 or 30 years. We regularly speak to people in Merrow, Burpham, Onslow Village and Shalford who don't want to move but would like to help a child or grandchild buy nearby. Others need to clear an interest-only mortgage that's coming to an end. We also cover Godalming, Cranleigh, the Horsleys and Send.
Woking has lots of new flats in the town centre, alongside older family homes in Horsell, Pyrford, Hook Heath and West Byfleet. If you own a flat, lease length is a big deal. Most lenders want plenty of years left, often 75 or more once the plan starts, so we check it right at the beginning. We also see Woking clients using drawdown to top up pension income or pay for changes to the house.
House prices in Epsom & Ewell are among the highest in this corner of Surrey. People in Epsom, Ewell, Stoneleigh, Ashtead and Banstead often ask about giving money to family, or taking a smaller amount now and keeping some back for later. Epsom sits right next to Sutton, where we also advise. See our page on equity release in Sutton.
Other Surrey areas we cover: Leatherhead, Dorking, Reigate, Redhill, Weybridge, Walton-on-Thames, Esher, Cobham, Farnham, Camberley, Staines, Caterham and Oxted.
The biggest factors are the age of the youngest homeowner and what the 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 typical Guildford home worth around £525,000, that works out at something like £130,000 to £180,000 tax-free. Treat these as ballpark figures. 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 your Surrey adviser
We come 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.
[Adviser name], [qualification, e.g. CeRER]
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"[Genuine Surrey client review]"
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Whole-of-market advice · FCA-regulated · Equity Release Council member · Home visits anywhere in Surrey, or phone and video if you'd rather
Yes. Our advisers visit homes all over Surrey, including Guildford, Woking, Epsom and Ewell, and the towns nearby. If you'd like to talk on the phone or by video first, that's fine too.
That depends on the youngest homeowner's age, what the house is worth and sometimes your health. Surrey homes are generally worth more than the South East average, so the amounts can be substantial. Our calculator will give you a quick estimate, and your adviser will 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 Surrey homeowners get in touch, particularly people whose interest-only mortgage is reaching the end of its term.
Often, yes. Lenders will look at how long is left on the lease, the service charge and the type of building. We check all of that early on, and we know which lenders are comfortable with flats.
Yes, and lots of our clients do exactly that. We'll go through how a gift affects what you leave behind, and whether there could be inheritance tax to think about.
Yes. Many plans let you ring-fence a percentage of your home's value, so that portion is guaranteed to go to your estate.
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 Surrey 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.
Wherever you are in Surrey, 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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