Lifetime mortgage
The most common route. You borrow against your home and keep ownership. Many plans need no monthly payments, with the loan and interest repaid when you die or move into long-term care.
Read more about lifetime mortgages
Harrogate & North Yorkshire
Equity release advice that's clear, calm and on your side
If you're 55 or over and own your home, equity release could give you access to some of its value without moving. I'll explain how it works, what it costs and what the alternatives are, before you decide anything.
- Free initial conversation, no obligation
- Plain English, no pressure
- Advice tailored to your circumstances and your family
Advice provided through Avalon FS Ltd, authorised and regulated by the Financial Conduct Authority.
The basics
What is equity release?
It's a way for homeowners aged 55 and over to release some of the money tied up in their property, while carrying on living there. There are two main types, and each suits different situations.
Home reversion plan
You sell all or part of your home to a provider in return for a lump sum or regular income, and keep the right to live there. It's less common and works differently, so it's worth understanding both.
Read more about home reversionAlternatives
Equity release isn't right for everyone. Downsizing, other borrowing, or help you may be entitled to could suit you better. I'll always talk these through with you first.
See the alternatives
How it works
Four simple steps, at your pace
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Have a chat
A free, no-obligation conversation about your home, your plans and what you'd like to achieve.
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Explore your options
I explain the plans that might suit you, their costs and risks, and the alternatives.
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Get a personal recommendation
If equity release makes sense, you receive a clear recommendation in writing, with a personalised illustration.
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Decide in your own time
Take time to think it over and talk to your family. Nothing goes ahead until you're ready.
Why people do it
Common reasons to release equity
- Home improvements or adaptations
- Topping up retirement income
- Helping children or grandchildren
- Repaying an existing mortgage
- Paying off debts
- Travel, or something you've always wanted to do
Worth knowing
Things to think about
Equity release can be a good solution, but it's a big decision. Before going ahead, you should understand that:
- Interest is usually added to the loan and builds up over time, so the amount owed can grow quickly.
- It will reduce the value of your estate, so there may be less to leave to your family.
- It may affect your entitlement to means-tested benefits.
- It can be costly to repay early, and plans are designed to be long term.
Equity Release Council members offer a no negative equity guarantee, so you'll never owe more than the value of your home.
Local advice
Helping homeowners across Harrogate and North Yorkshire
Talking to someone local makes a difference. I work with homeowners in Harrogate, Knaresborough, Ripon, Wetherby, Boroughbridge, Pateley Bridge, Ilkley and the villages around them.
Equity release in HarrogateWhy speak to an adviser first?
- You get the whole picture: costs, risks and alternatives
- Your recommendation is based on your circumstances
- You can bring family along to the conversation
- There's no pressure to go ahead
Questions
Quick answers to common questions
How old do I need to be?
You need to be at least 55 to take out a lifetime mortgage. The amount you can release generally increases with age, because the plan is expected to run for a shorter period.
Do I still own my home?
With a lifetime mortgage, yes. You keep ownership and continue to live there. With a home reversion plan you sell all or part of your home, so ownership works differently.
Do I have to make monthly repayments?
Not usually. Most lifetime mortgages let the interest build up, with the loan repaid when you die or move into long-term care. Some plans let you make optional payments, which can reduce the total cost.
Could I owe more than my home is worth?
Not with an Equity Release Council member. Their standards include a no negative equity guarantee, so the amount you or your estate repay can never exceed the value of your home.
What will it cost to get advice?
The initial conversation is free. If you decide to go ahead, any fees will be explained clearly and confirmed in writing before you commit to anything.
Ready for a friendly, no-pressure chat?
Tell me a little about your situation and I'll explain what your options might look like. There's no obligation.