Many UK homeowners have seen a considerable increase in the value of their properties over the years. If you are in this position, you might have a large portion of your wealth tied up in your home.
Equity release allows you to unlock some of this value and borrow a tax-free sum of cash from your home.
The most popular type of equity release is called a Lifetime Mortgage. With this, you retain full ownership of your home. You are not required to commit to making monthly repayments with equity release, however it is recommended to consider whether you could afford to make monthly payments to reduce the overall cost of borrowing over time.
To be eligible for equity release you must:
If you are considering equity release, you will likely be keen to find out how much equity could be available to you.
By using the free Reader’s Digest Equity Release online calculator, you will:
Be able to request a copy of the Reader’s Digest Equity Release guide. In this, you can read all about the different ways you can release equity, how the process works, and how Reader’s Digest Equity Release can provide access to a team of expert and trustworthy advisers.
Receive an instant and personalised estimate of the minimum and maximum amount of equity you could release, based on your age and property value.
Be contacted by a member of the friendly Information Team who can help you progress your enquiry when you are ready. They will be able to arrange for you to have a no-obligation appointment with a fully qualified adviser, who will discuss all of your options with you.
Unlocking the value of your home with equity release can allow you to achieve a number of goals.
Here are some of the most popular reasons why our customers choose to release equity:
Clearing an existing mortgage is a very popular use for equity release, whether you have an interest-only mortgage close to expiry or would like to enjoy retirement without your current capital repayments.
You could renovate, redesign, or even adapt your home with the value you hold within it.
See your loved ones benefit from their inheritance during your lifetime by helping children and grandchildren with house deposits, weddings, university living costs or other major life events.
With equity release, a cash boost could help you to live a little more comfortable and enjoy more of the little things that matter.
Use the free online equity release calculator today and find out instantly what your budget could be.
Releasing equity will reduce the value of your estate and could affect your entitlement to means-tested benefits. An adviser will help you to learn more about the pros and cons of your options and discuss with you what financial decisions you can make now in order to balance your current wants with future needs.Use our calculator now
Launched in 1922, Reader’s Digest has worked hard to build over 100 years of trust by providing useful guides and top tips about the topics that really matter. Now, Reader’s Digest has chosen to work with Responsible Life to provide you with a quality mortgage advice service. You’re in good hands, as they have over a decade of experience and over 1,500 5-star reviews on Trustpilot.
Responsible Life only work with lenders approved by the Equity Release Council. This means that all of the Lifetime Mortgage products you can access have customer needs at their core.
We have carefully selected a range of products with flexible features prioritised throughout. We've designed this selection of products to offer fair value for you and your family, both now and in the future.
At Reader's Digest Equity Release, we will assess your suitability for a range of solutions designed to help you take advantage of your property wealth. We find that the most popular way of releasing equity is with a Lifetime Mortgage. However, we want to ensure that you have access to a wide range of solutions and can also provide you with access to Retirement Interest-Only Mortgages and traditional mortgages if these are more suitable.
If we cannot recommend a product from our pre-selected panel, we may be able to refer you to a service that considers options from the wider market. Your adviser will discuss this with you as part of the advice process. Full details about the products we offer and their associated features can be obtained from your adviser.