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Frequently Asked Questions

Here you’ll find some of the questions our advisers are asked most frequently. If you don’t find the answer you’re looking for here, please contact our team who will be happy to help you.


Taking out equity release is a big decision and our customers ask their advisers lots of important questions. So, we asked our advisers, what are the common questions you’re asked? Here, we’ve compiled them and the answers in an easy to follow format.

About equity release
I used compareequityrelease.com to do my research and now Equity Release Supermarket are helping me. Why?
What is the difference between equity release, a lifetime mortgage and a home reversion plan?
Borrowing and the equity release process
What rate of interest will I pay?
Do I qualify?
Will the lender value my property fairly?
Will I receive a cooling off period?
Will I have to pay tax on the money I release?
How long will it take to get my money?
Do I have to pass any credit or affordability checks?
I have a mortgage outstanding on my house. Can I take out equity release?
Can I use equity release for buy to let, or to buy a holiday home or second home?
I will be mortgage free soon. Could I release equity from my own property to purchase another one - and let out my current property (like a let to buy)?
We are moving back from overseas and have a shortfall for the property we want to buy. Can we use a lifetime mortgage to cover the shortfall?
I have spray foam in my roof. Can I release equity from my home?
Is Japanese Knotweed in our garden a problem?
Some of our house has a flat roof. Can we still take out equity release?
Do lenders accept an annex?
You and your family
I want to leave an inheritance for my children. Will equity release affect this?
Do I still own my home?
Does equity release affect means-tested benefits?
I have somebody living in the property who is not named on the title deeds. Is this Ok?
Can I have a lodger or tenant and take out equity release?
We are married – but just my name is on the title deeds. Is this a problem?
We would like to make a joint application, but my partner lacks mental capacity due to ill health. I have Power of Attorney; can I sign on their behalf?
My spouse is under 55. Is this acceptable?
Is there an age limit to equity release?
I have forgotten my password for the client portal, how do I create a new password?
When you die or move into long term care
What happens to the property when the last one of us dies or goes into long term care?
Fees and charges associated with equity release
What are the fees and charges involved in setting up an equity release plan?
Why would I not go the lender directly to avoid paying a broker’s fee?
Existing borrowers
I already have an equity release plan: can I borrow more?
Can I move home again in the future?
Can I switch my plan?
Can I make partial repayments of capital?
Can I fully repay my lifetime mortgage?
I already have a plan. My partner is moving in with me and we may get married in the future. What happens to my equity release?
What happens if I want to transfer my lifetime mortgage from a house to a leasehold flat which has a lower value in the future?
The importance of having financial advice
Do I need financial advice?
Who should I speak to for advice?

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