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Unlock tax-free cash with an equity release plan.

If you are a homeowner over the age of 55, use our free instant equity release calculator to see how much you could release.

Equity release calculator

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Enter the value of your property to calculate how much you can release. You must own a home with a minimum value of £70,000 to release equity.

What is equity release?

There are a variety of different products to release equity. The UKs most popular form of equity release is a Lifetime Mortgage. With this product, you retain full ownership of your home.

Lifetime Mortgages are more flexible than they have ever been before and are designed to last your whole life, with the interest rolling up over time.

Throughout the duration of your Lifetime Mortgage, you do not have to commit to making monthly repayments. However, it is recommended to consider whether you could make voluntary payments to reduce the overall cost of borrowing over time.

How does equity release work?

Interest is charged on the amount that you release with your equity release plan, with interest rates fixed for life. Our equity release products are designed to run as long as your home remains your permanent residence.

By taking out an equity release plan, you have the option to pay off interest as you go should you wish to. The loan is only due for repayment once all homeowners have either passed away or entered into long-term care, when the balance, including interest, is normally settled through the sale of the property.

An equity release plan will reduce the value of your estate and may affect your entitlement to means-tested benefits. Our expert advisers will help you to consider your options and what the best choice is for you based on your current and future circumstances.

We’ll guide you through the whole process
Elaine Carter, Senior Adviser

Benefits & risks of equity release


  • The cash you release with equity release is tax-free.

  • Your interest rate will be fixed for life.

  • You can receive your tax-free cash as a single lump sum or as regular payments. Ask your adviser about how a Drawdown plan could help to reduce your cost of borrowing.

  • You will benefit from a no-negative-equity guarantee - this means that you will never owe more than the value of the property when it is sold.

  • Should you wish to move home you have the option to transfer your equity release plan in the future, subject to the lender’s criteria.


  • Your estate’s value will be reduced, leaving less to your family or friends after you pass away.

  • If you release more cash than you immediately need with equity release, interest charged on the amount borrowed will likely far exceed any earned from putting the extra cash into savings.

  • Choosing to repay early could be costly, so it is important to consider your future plans.

When releasing equity it is important to receive qualified advice. If you enquire with us, one of our advisers can help you to understand the benefits and risks involved when releasing equity.

Equity release rates

Equity release plans will come with an interest rate that is fixed for life. This allows your adviser to show you exactly how much you will owe over time. While repayments are not required, knowing how interest will be added to your loan will allow you to better plan whether you can afford to make optional payments and reduce the overall cost of borrowing.

Should you choose not to make any payments, the interest will simply build over time, which can be a more expensive way to borrow.

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Our advice service

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.

Products we offer

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.


Will I still own my own home?

Taking out a Lifetime Mortgage does not involve selling your home. You retain complete ownership throughout your lifetime.

Will I leave behind equity release debt to my loved ones?

Reader’s Digest Equity Release only work with Equity Release Council-approved lenders. They offer a no-negative-equity guarantee, ensuring you never owe more than your home is worth. In fact, you can even choose plans that ring-fence a portion of your home’s value as a guaranteed inheritance for your loved ones.

Can I release equity if I have an outstanding mortgage?

Yes, you can release equity if you have an existing mortgage, but you must be able to pay the outstanding amount off on completion. Many people choose to use their released equity to do just that in order to lift the pressure of required monthly repayments as they enter retirement.

What if my financial situation changes?

The equity release plans that we recommend offer flexible ways of borrowing. While there are plans that allow you to make voluntary repayments, there are no commitments, and you can stop these whenever you wish. Whatever your plans, your adviser will be able to help you choose the best option for you and your family, now and into the future.