What can I spend the money on?

what can I spend the money on


Once released, you have freedom to spend the tax free cash on whatever you wish.


However, caution should be exercised that the correct amount & right equity release
scheme is applied for in the first place. Based on your needs & aspirations, an equity
release adviser will recommend the best scheme and optimum amount to take initially.



How is equity release commonly spent?

The release of equity from your property is tax free upon completion and is paid by your solicitor into a nomiated
bank account, or you can receive a cheque. Compare Equity Release customers have kindly provided feedback
on how they have managed their newly found financial freedom. The list below shows the most common uses
of how our customers have put their lifetime mortgage funds to best use in retirement: -


  • Pay for home improvements
  • Clear debts such as mortgage, loan, credit cards & bills
  • Buy that new car or caravan
  • Treat yourself to that dream holiday
  • Gift money to your children when they need it most
  • Help towards a house purchase
  • Pay for nursing care fees in the home
  • Reduce future inhertance tax liability
  • Top up your savings & pay for lifes' luxuries

....and the list goes on.


How to ensure you get advice as to which equity release is best

There are various methods of releasing equity from your property & plans available which can be confusing
in deciding which equity release schemes are best. As equity release plans can affect the final value of
your estate, always get advice from a lifetime mortgage advisory service such as Compare Equity Release.


If you would like to arrange a free no obligation consultation with a qualified equity release adviser, call the
team on FREEPHONE 0800 678 5169 or complete our contact form.

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These are lifetime mortgage & home reversion plans. To understand the risk & features of these plans, request a personalised Key Facts Illustration.

CompareEquityRelease.com helps you to compare and arrange equity release schemes from the whole of the equity release market:

Aviva | Bridgewater | Hodge Lifetime | Just Retirement | LV= | more2life | One Family | Retirement Advantage | Pure Retirement L&G Crown