Age Partnership Equity Release

Age Partnership equity release is available to homeowners aged 55 or over. It involves unlocking the money that may be tied up in your home, minus any mortgage.

Learn More: How Does Equity Release Work?

Age Partnership are not members of the Equity Release Council.

Learn More: Who Are the Equity Release Council?

Age Partnership equity release is a means of retaining use of a house or other object which has capital value, while also obtaining a lump sum or a steady stream of income, using the value of the house.

The ‘catch’ is that the equity provider must be repaid at a later stage, usually when the homeowner dies.

Learn More: What Are the Equity Release Pitfalls?

For a lifetime mortgage you (or both of you, if you’re borrowing jointly) need to be at least 55 years old. For a home reversion plan you (or both of you, if you’re taking out a plan jointly) need to be at least 65 years old. You must own property in the UK, which must be your main residence.

Learn More: Equity Release Criteria

How much does equity release cost? For the lifetime mortgage equity release the typical rate is about 5%, although some rates are under 3%. This is cheaper than rates have been for a number of years – yet still significantly higher than those for most standard mortgages.

Learn more: Equity Release Costs