Do You Want to Access Property Wealth With Equity Release in London?

Are You Looking to Release Equity in London? Find Out How to Get Equity Release for a London House and What Can Affect Your Eligibility. Keep Reading to Learn More.
  • Last Updated: 12 Dec 2023
  • Fact Checked
  • Our team recently fact checked this article for accuracy. However, things do change, so please do your own research.

Contributors:

Francis Hui

Key Takeaways

  • Equity release in London allows homeowners over 55 to unlock capital from their homes, often used to supplement retirement income.
  • The amount released depends on the property's value and the homeowner's age, with older individuals typically able to release more.
  • Equity release plans include lifetime mortgages and home reversion plans, with the loan repaid upon the homeowner's death or entry into long-term care.
  • Seeking advice from a financial adviser and ensuring the plan is approved by the Equity Release Council is recommended for safety and compliance.
  • Equity release can impact inheritance and long-term financial planning, making it essential to consider all aspects and alternatives.

Are you a retired London-based individual or couple who wants to know more about freeing up equity and looking for "equity release advisers near me?"

Equity release is often a complicated process, so it’s best to know as much about it as possible to help you along the way.

This guide to equity release in London was created for your ease of use.

In This Article, You Will Discover:

    Our dedicated team of experts has gone through a lot of information about equity release to give you all the information you may need to make this life-changing decision.

    Continue reading to find out more!

    What’s Equity Release?

    In summary, an equity release mortgage is a loan where interest is paid back to the lender when the homeowner dies or moves into a long-term care facility.

    When the owner dies or moves into long-term care, their home is usually sold to recover the cost of the capital released and any interest.

    How Does Equity Release Work?

    People or couples over 55 can get equity out of their homes using equity release.

    One of the factors used to determine how much equity can be taken out is the age of the youngest homeowner.

    For some equity release plans, the homeowner has to be at least 60 years old.

    London Quick Info

    London1, the capital of England and the United Kingdom is a twenty-first-century metropolis with a Roman past.

    The majestic Houses of Parliament, the renowned 'Big Ben' clock tower, and Westminster Abbey, the site of British monarch coronations, are all located in the heart of the city.

    The London Eye observation wheel, located across the Thames River, offers panoramic views of the South Bank cultural complex and the entire city.

    London City Info

    London is the capital of both England and the United Kingdom, as well as one of the most interesting cities on the planet. It's England's most populous city.

    London Population Info

    With a population of 8.7 million people2, it's also the largest metropolitan region in the United Kingdom.

    It's an economic powerhouse that generates 5% of global GDP on its own, and it's been that way since its beginning as a Roman town on the Thames.

    London History

    The city was created around 43 AD when Emperor Claudius ordered his men to build a bridge across the Thames. This was to be done at the place where they had discovered water from what would become known as "the source".

    London Weather

    Because London is such a large city with many different climate zones, the weather varies. Climate Zones are defined by their location in relation to an ocean, sea, lake, river, or other body of water, as well as how far north or south they are.

    The most typical form lasts from November through March, with daytime temperatures averaging between 55-65 degrees Fahrenheit and nighttime temperatures averaging between 45-55 degrees Fahrenheit.

    Rain showers are common in the afternoon, but they only last approximately 20 minutes before clearing up.

    Famous London Landmarks

    Big Ben, Westminster Abbey, Buckingham Palace, and Tower Bridge are just a few of the city's notable sights.

    The city also has a long and illustrious past, as seen by its architecture and art galleries.

    It's a good location for international companies due to its outstanding infrastructure, which includes all necessary services like transportation and communication.

    London Neighbourhoods

    In London, there are numerous neighbourhoods to visit, including Covent Garden, Kensington Gardens, and Notting Hill.

    Equity Release in London, UK

    London Equity Release

    Equity Release Solicitors & Advice in London

    Talking to an ethical financial adviser qualified for equity release is the first step to getting equity release.

    Make sure your advisor or solicitor is a member of the Equity Release Council2 because they have experience with equity release and regulate their members.

    The UK equity release market is regulated by the Equity Release Council (ERC).

    The members of the council help to keep you safe by following the rules and principles of the ERC.

    Here is the ERC's member search page, where you can find a member in London who can help you with equity release, or a lawyer.

    You can also use our equity release calculator to discover how much equity you could get from your home.

    If you choose to use our calculator, a qualified adviser from London will call you to discuss your needs, worries, and any questions about equity release.

    The adviser can provide contact details for the solicitors they make use of for equity release.

    How to Release Equity for a London House?

    If your are thinking about equity release, it’s a legal requirement that you talk to a certified financial adviser to make sure it's the best choice for you.

    This is the first thing you must do to release capital from your London home.

    When talking to an adviser, you’ll be walked through the process step by step.

    You can use the above calculator to obtain a quick idea of how much equity you could expect to unlock from your home.

    Common Questions

    Are There Drawbacks to Equity Release?

    Is Equity Release Regulated?

    Can I Sell My House After Taking Equity Release?

    Can My Age Affect My Eligibility for Equity Release?

    Conclusion

    Equity release is a complicated process that can have long-lasting effects on your finances.

    It may also not be the right option for everyone, so your adviser will help you to consider other alternatives before moving forward.

    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 paying off any existing mortgage. Any money released, plus accrued interest would be repaid upon death, or moving into long-term care.

    Related Articles
    Scotland Home Equity Release

    Are You Considering Equity Release in Scotland? Find the Top Equity Release Solicitors and Get the Advice You Need. Discover if Equity Release Is Best for You.

    Equity Release Opportunities in Ireland

    Are You Considering Equity Release in Ireland? Discover the Top Solicitors and Get the Advice You Need Near You. Keep Reading to Learn More.

    Swansea Equity Release Services

    Are You Looking for the Best Equity Release Deals in Swansea? Find Out How It Works and Who to Turn To for Advice. Keep Reading to Get the Answers You Need.

    Equity Release in Northern Ireland

    Are You Thinking of Releasing Equity in Northern Ireland? Discover How It Works and the Top Equity Release Solicitors in Northern Ireland. Let’s Unpack This.

    Edinburgh Home Equity Release

    Are You Looking to Release Equity in Edinburgh? Understand How It Works and Who You Can Turn To for Advice in 2024. Get All the Answers You Need in This Guide.

    Scroll to Top