Later life · 6 min read
Equity release: the questions to answer before product advice
Later-life property borrowing can affect a home, future equity and estate. A useful self-serve journey should help someone understand the questions first, while leaving product suitability to an appropriately qualified adviser.
Published by The Finance Place
Start with the property arithmetic
Estimate the property value, current mortgage or secured borrowing and the amount of equity before trying to estimate what a provider might offer.
Be precise about the purpose
Repaying an existing mortgage, adapting a home, gifting to family and creating a cash reserve are different objectives. Write down the amount and what it needs to achieve.
Think about the future home
Consider whether you expect to move, downsize or remain in the property long term. Future housing plans matter when reviewing later-life borrowing structures.
Bring family and estate effects into the discussion
Releasing property equity can reduce what remains in the estate. Advice should also cover alternatives, costs, protections and the way interest or repayments work for the chosen route.
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