7 things you need to know before you use equity release

Your home may be one of the largest assets you own, and unlocking property wealth using equity release could significantly boost your funds later in life.

According to the Equity Release Council, in the final quarter of 2024, homeowners withdrew around £622 million from their homes. The average person withdrawing a lump sum for the first time received £115,243.

A cash boost of that size might mean you’re able to enjoy some retirement experiences you previously thought were out of reach. Alternatively, you may want to pass on some of the money to loved ones or update your property so it better suits your needs.

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