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StepChange Financial Solutions

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Equity release advice

Equity release advice. A safe environment to explore your options.

StepChange Financial Solutions provides free, whole of market equity release advice. As the UK's only charity-operated equity release service you can trust us to give you the advice that's right for you.

What is equity release?

If you're in or near retirement you could consider using equity release to access some of the money tied up in the home, without the need to move. You can release a tax free cash lump sum or set up access to a flexible borrowing facility.

How much you can release varies between providers but usually depends on how old you are, the value of your home and sometimes your health.

The most common use of equity release is for home improvements but you could also use the funds to repay an existing mortgage, manage debt, supplement your income or pay for long-term care.

Types of equity release

There are three types of equity release: interest only lifetime mortgages, lifetime mortgages and home reversion plans.

Interest only lifetime mortgages let you borrow against the value of your home while you still live there. You can choose to repay all or part of the monthly interest and your mortgage is repaid when your home is sold. You have the option to switch from this to a lifetime mortgage at any time.

Lifetime mortgages similarly let you borrow against the value of your home but without the need to make repayments. Interest is instead added to the mortgage and both are repaid in the future when your home is sold.

Home reversion plans let you sell all or a share of your home at a discount in exchange for a cash lump sum and rent-free lifetime tenure in your home.

These arrangements may involve either a lifetime mortgage or home reversion plan. To understand the features and risks ask for a personalised illustration.



Top 10 equity release tips

Read how to make the most of your equity release enquiry.

Equity release tips from our expert advisors

Award winning advice

We're proud that the equity release industry has acknowledged our commitment to providing expert, honest advice. The awards we've received are much appreciated recognition for the work our team does on behalf of all our clients. 

Equity Release Awards logo

Important things to consider

Here are some things to consider when assessing your suitability for an equity release solution:

  • Releasing equity may affect your tax position and entitlement to means-tested benefits
  • Think about alternatives, such as downsizing to a smaller property
  • Future property prices may be higher or lower than they are today
  • Releasing equity from your home will reduce the value of your estate, affecting the amount of inheritance you may leave
  • Think carefully before securing other debts against your home
  • To understand the features and risks of any plan ask for a personalised illustration

StepChange Financial Solutions is a registered trading name of Consumer Credit Counselling Service (Equity Release) Ltd. Authorised and regulated by the Financial Conduct Authority.

Book an appointment

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Which? equity release report

Which equity release report

Under our previous name, CCCS Equity Release, we were the only advice service to pass all of Which?'s equity release tests

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Listen to our financial advice manager, Tom Moloney, answering questions with Ruth Alexander on BBC Radio 4's Money Box.

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Foundation for Credit Counselling (trading as StepChange Debt Charity) is a company limited by guarantee registered in England and Wales (Company No: 2757055 ) and a charity registered in England and Wales (Registered Charity No: 1016630). Registered office: Wade House, Merrion Centre, Leeds, LS2 8NG. Consumer Credit Counselling Service (Scotland) trading as StepChange Debt Charity Scotland is a company limited by guarantee registered in Scotland (Company No: SC162719) and a charity registered in Scotland (Registered Charity No:SC024413). Registered office: 33 Bothwell Street, Glasgow G2 6NL. Authorised and regulated by the Financial Conduct Authority.

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