Equity release is a term usually given to a very specific type of mortgage designed for people aged 55 and over. In the right circumstances, it can be a way to raise cash against the value of your home – such as to pay off debts with higher interest rates, cover the cost of essential care, or simply boost your retirement income.
When considering equity release, it’s important to know both the benefits and drawbacks of the product, as well as making sure it’s right for your circumstances. Read our equity release guide for more information