Equity Release in Ireland (2025): Options, Banks, & Offers Explained

Ireland provides a variety of equity release schemes, including lifetime mortgages, suited to Irish property owners' specific financial needs.
Equity Release in Ireland
  • Last Updated: 31 Oct 2024
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Are You Considering Equity Release in Ireland? Discover the Top Solicitors and Get the Advice You Need Near You. Read On...

Key Takeaways…

  • The process of releasing equity in Ireland typically involves an initial consultation, property valuation, legal review, and finally the release of funds secured against your home.
  • For homeowners over 60, it allows you to unlock your property’s value, providing tax-free income without the need to sell or move.
  • This financial option offers retirees the possibility of financial freedom, depending on individual circumstances and future plans.
  • Advantages include receiving tax-free income and retaining ownership of your home, whilst cons may involve a decreased inheritance for heirs and effects on means-tested benefits.

Are you retired in Ireland and seeking information about equity release?

Obtaining equity release can often be a complicated process, so it is best to be armed with as much pertinent information as possible to help you along the way.

For your convenience, we have looked at the best equity release locations in the UK and created this guide to equity release in Ireland.

In This Article, You Will Discover:

    Our dedicated team of experts has analysed large volumes of equity release information to bring you all the relevant details you may need to help you with this life-changing decision. 

    What Does Home Equity Release Refer to?

    Equity release is a financial tool for seniors to unlock their home’s value as cash.

    It is designed for homeowners who want to supplement their income or cover expenses without selling their home.

    It involves either taking out a loan against the home or selling a share of it, with repayment deferred to a future date, typically when the homeowner moves or passes away.

    Learn More: What Is Equity Release On A House?

    Top Equity Release Schemes & Options in Ireland (2025)

    In Ireland, the top equity release options are lifetime mortgages.

    The lifetime mortgage is the most popular, offering flexible options such as drawing down funds in small amounts over time.

    Home reversion allows homeowners to sell a part or all of their property in return for a lump sum or regular income, retaining the right to stay in their home, rent-free.

    This option is not available in Ireland, however.

    It is advisable to consult with an equity release specialist when making your decision.

    How Does Equity Release Work?

    Equity release permits seniors over 60 to liquidate part of their home’s value without relinquishing ownership.

    This financial strategy can deliver a substantial lump sum or several smaller disbursements.

    The obligation to repay the loan with interest is deferred until the home is sold, often after the homeowner’s passing or when they enter a care facility.

    This method provides a way to monetise home equity without moving out.

    Find out more about how equity release works here.

    Equity Release Ireland: What Are the Options?

    Equity Release options in Ireland include four lifetime mortgage plans offered by SpryFinance.

    Standard Lifetime Loan

    The Standard Lifetime Loan by Spry Finance is a mortgage secured against your home, providing a cash lump sum while allowing you to retain full ownership.

    It’s designed to last for life with no required repayments; however, optional repayments can help manage the balance.

    The loan is repaid upon sale of the property, or when you pass away or permanently vacate the home.

    Interest accumulates monthly, causing the loan amount to grow over time.

    Green Lifetime Loan

    The Green Lifetime Loan offers the same features as the Standard Lifetime Loan but is intended for homeowners looking to make environmentally friendly home improvements.

    It includes a reduced interest rate of 6.50% and a setup fee of €1,350.

    To qualify, your home must have a Building Energy Rating (BER) of B3 or higher, or you should use at least half of the loan for energy-efficient upgrades within 12 months.

    Guaranteed Inheritance Lifetime Loan

    This loan allows you to protect 20% of your home’s value, ensuring that portion remains for inheritance or future needs.

    While it operates like the Standard Lifetime Loan, it offers a slightly higher interest rate of 6.80%.

    This option is suited to those wanting to secure part of their home’s equity, with the amount protected fluctuating alongside property value changes.

    Green Guaranteed Inheritance Lifetime Loan

    Similar to the Guaranteed Inheritance Lifetime Loan, this option includes a reduced interest rate of 6.60% and allows for greener living upgrades.

    It ensures 20% of your home’s value remains protected, with additional incentives for energy efficiency.

    The loan amount is capped to accommodate the preserved equity.

    Ireland Quick Information

    Ireland2 is an island in the Atlantic ocean.

    The North Channel, the Irish Sea, and St George’s Channel divide it from Great Britain to the east.

    Ireland is the British Isles’ second-largest island, Europe’s third-largest, and the world’s twentieth-largest.3

    Equity Release in Ireland

    Ireland Equity Release

    Equity Release Solicitors & Local Advice in Ireland

    The initial step in obtaining equity release is to consult a competent financial adviser who is qualified for equity release.

    Additionally, you are welcome to try our equity release calculator to obtain an estimate of how much equity you could release from your home.

    If you opt to use our calculator, we can have a credible adviser from Ireland call you to discuss your needs, concerns, and any questions you may have regarding equity release.

    The adviser can provide you with additional contact information for the equity release attorneys they recommend.

    How to Release Equity from Your Home in Ireland

    When considering equity release, it is required by law that you consult with a certified financial adviser to ensure that it is the best option for your specific set of circumstances.

    This is the initial step necessary if you are considering releasing equity from your Ireland-based home.

    When speaking with an adviser, you will be guided through the process in detail.

    Use the calculator above if you wish a quick estimate of how much equity you could release from your home.

    Common Questions on Equity Release Ireland

    How Does Equity Release Work?

    Can You Obtain Equity Release in Ireland?

    What Is the Process of Equity Release in Ireland?

    How Does Seniors’ Equity Release Work for Irish Homeowners Over 60?

    Is Equity Release a Good Option for Retirees?

    What Are the Risks and Benefits of Equity Release?

    What Banks & Companies Offer Equity Release in Ireland?

    Home Equity Release Ireland: In Short

    Equity release is a complicated process with lasting financial consequences.

    Moreover, it may not be ideal for everyone therefore, your advisor will help you to investigate alternative possibilities before starting the process.

    Find Locations Near Ireland: Equity Release Edinburgh Review

    Equity release may involve a home reversion or a lifetime mortgage, which is secured against your property. To understand the features and risks, ask for a personalised illustration. Equity release requires repaying any existing mortgage. Any money released, plus accrued interest would be repaid upon death, or moving into long-term care.

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