Equity release allows you to unlock the value of your home and then gives you the option of turning it into a cash lump sum. There are a number of policies available through Proper Finance which let you release the equity in your home if you are over the age of 55. Furthermore, equity release isn’t only applicable to those who have fully paid off their mortgage.
Typically with equity release, you will have one of the two following options: you can take the cash that you release in one lump sum, or you can decide to take it out in smaller instalments. However, bear in mind that you would pay interest on it. Or, you may have the option, depending on the lender, to do a combination of the two.
Applying for equity release through Proper Finance is a quick, easy and pain-free process. All you need to do is click the apply now button on our site and we can start to help you find the best equity release deal, based on your own individual circumstances. All that is required from you is to fill in a brief application form on our site, and then at a convenient time for you, a member of our team will contact you for a fact find call, taking less than 10 minutes in total.
We will then help to find you the right equity deal for you with an appropriate lender, and if you are happy with it, we will sort out the documentation and paperwork for you on your behalf.
There are certain eligibility criteria that you will need to meet to apply, such as the following:
For further information, check our FAQs page.
As Proper Finance is a comparison website, comparing equity release providers is a speedy process. We work with over 100 reputable, respected lenders who provide a variety of financial products, including those designed for equity release. We carefully vet the lenders we show on our website, making sure that all the lenders we choose are FCA compliant and authorised. The same goes for Proper Finance: we are also FCA authorised and registered, which we hope gives you further peace of mind that your finances are safe with us.
Wondering what the main advantages of equity release. Typical benefits include that:
The maximum amount that you will be able to borrow will usually be determined by a combination of factors, such as your property’s value as well as your age. Typically, the older you are, the more you will be able to borrow.
For example, if your home’s value is around £250,000 and you are 60 years old, you would be able to borrow on average between £63,750 and £72,500 in total.