Equity Release Deals for Aug 2022

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If you don’t know the best equity release deals in 2022, you could pay far too much for the product.

Don’t get caught with ridiculously high interest rates, or miss out on brilliant freebies.

Fortunately, we at SovereignBoss are here to be your trusted guide.

As experts in our field, we discuss the following in this article:


    We did a detailed analysis of over 220 equity release deals to determine this detailed and up-to-date list.

    Here’s what we’ve found.

    Equity Release Image

    What Are Equity Release Deals?

    Equity release deals are later-life mortgages that allow you, if you’re 55 or older, to unlock tax-free cash that’s tied into your property. 

    With equity release deals, the loan plus interest is repaid from the sale of your house when you pass away or move to long-term care.

    There are 2 types of equity release deals, lifetime mortgages and home reversion plans.

    Lifetime Mortgage

    A lifetime mortgage is a loan taken against the value of your property to unlock funds.

    The loan is repaid after the sale of your home when you pass away or move into a long-term care facility.

    Home Reversion Plan

    A home reversion plan is when you sell all or a part of your home to unlock equity.

    You gain access to a lump sum, regular income, or both.

    How Do Equity Release Deals Work?

    Equity release deals work by giving you immediate access to funds tied up in your property while you continue living in your home.

    A regulated lender will give you a lump sum or regular income until the property is sold.

    Why’s It So Important to Find the Best Equity Release Deal?

    It’s important to find the best equity release deal because of the financial implications of unlocking capital for your senior years.

    While there are many equity release uses that can be to your benefit, you also need to be aware of the downsides before releasing equity.

    Equity release rates differ per lender, so it’s important to find a deal that works for you and your circumstances.

    How Do I Find the Best Equity Release Deals?

    To find the best equity release deals, you need to compare interest rates and offers from regulated lenders on the market.

    Annual interest can be available from as low as 4% to 7%.
    View the most current rates here
    .

    We recommend that you enlist an experienced equity release adviser to guide you through the process.

    How Do I Choose & Compare Equity Release Deals?

    When choosing and comparing equity release deals, make sure that you’re looking at lenders that are members of the Equity Release Council (ERC) and offer competitive rates and fees.

    They should also offer a no negative equity guarantee, and have positive online reviews or feedback.

    What’s the Best Deal for Equity Release?

    The best deals for equity release in 2022 are typically between 3% and 8%.

    Provider Product Name Type Interest Rate The interest rate is the cost of borrowing the principal. APR The APR includes not only the interest expense on the loan but also all fees and other costs involved in procuring the loan.

    Got Questions? Check These First

    Which Companies Offer the Best Equity Release Deals in the UK?

    Which Company Has the Best Equity Release Deal?

    How Do I Choose the Best Equity Release Deal?

    Which Is the Cheapest Equity Release Deal?

    In Conclusion

    We always recommend you chat through your options with your children and speak to a trusted financial advisor.

    But first, try our FREE calculator to discover the best equity release deals available in 2022.

    Editorial Note: This content has been independently collected by the SovereignBoss team and is offered on a non-advised basis. SovereignBoss may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Learn more about our editorial guidelines.

    HOW MUCH EQUITY CAN YOU RELEASE?

    Most people are using equity release as a means of retaining the use of their house while also obtaining a lump sum or a steady stream of income. Get matched with an expert and check your eligibility for equity release options.

    Use our free equity release calculator & see how much you can release today.

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    Equity Release Calculator

    Value of Your Home?

    50000

    Drag me

    100% Safe & Fast