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B-Advised Blog

5 reasons to consider an Equity Release Mortgage


With many more people looking into Equity Release Mortgages to help them financially in later life, you may be wondering what enticed them in the first place. There is value in your home that can be released when you need it and the benefits can be incredibly worthwhile.

1/ Cost of living

With the cost of living on the rise, an Equity Release Mortgage could help you live comfortably day to day, without worrying about your energy bills. 

Putting that money towards your bills leaves more funds for important things like family gatherings and events, or even extra gifts for the grandkids. You could also use the money as a cushion for emergencies; it’s always good to have a back-up.

2/ Home improvements

If you’ve been saving up to finally get that conservatory you’ve always wanted, freeing up your cash via an Equity Release Mortgage can go a long way. With either a lump sum or regular payments, you can look forward to planning and budgeting your home improvements and giving your living spaces a luxurious makeover. 

Whether it’s a new kitchen or a new set of furniture, unlocking your funds from your home can help you live more comfortably and enjoy your retired life.

3/ Retirement

Speaking of retirement, why not use your Equity Release Mortgage for that bucket-list holiday you never got to do? Whether you want to escape the unpredictable British weather or want to experience the Northern Lights in Iceland, put your money towards a wonderful occasion and enjoy your retirement – you’ve earned it! 

You can also use it to buy that car you’ve always wanted, or maybe to get yourself a new motorhome to travel the country if you’re feeling adventurous. 

4/ You can keep your home

With an Equity Release Mortgage, you can be reassured that you’ll retain 100% home ownership. Your property will be yours until you die or you move into a long-term care home. This mortgage should always come with a no-negative equity guarantee, which ensures that you’ll never end up owing more than the value of your home.

5/ Inheritance

Like many people, you may be wondering what you can leave behind for your loved ones. It is important to recognise that the interest rolled up into the loan increases the amount that is owed when you die or move into long-term care, therefore decreasing the amount that you can leave as inheritance to your family or loved ones. Thankfully, with some Lifetime Mortgage plans you are able to protect a percentage of the value of your home through an Inheritance Protection Guarantee.

Our consulting team is waiting to help you achieve your later life goals, with no obligation to go ahead. Contact us by phone or email for a free initial discussion with one of our friendly advisers.