We aim to make our website as accessible as possible. However if you use a screen reader and require debt advice you may find it easier to phone us instead. Our phone number is 0 8 0 0 1 3 8 1 1 1 1. Freephone (including all mobiles).
Return to debt advice  |  OnlineDMP Login
StepChange Debt Charity logo
Go

Equity release is available throughout the UK.

smiling couple sofa

Equity release advice

At StepChange Financial Solutions our expert team can help you release equity in your home with no need to move.

Call us now for free

0808 2716 211

Monday to Friday 9am to 5pm

Equity release allows you to access the money tied up in your home if you're aged 55+. You can take a tax-free cash lump sum or access flexible borrowing whether you're planning home improvements, managing debt or supplementing your retirement income.

Our expert team at StepChange Financial Solutions can advise you on your best equity release options. Unlike other equity release advice services, our advisors are salaried with no sales targets, bonuses or commissions, so you can rest assured their only priority is finding the best option for you. 

Is equity release right for you?

Talk to the experts today, call 0808 2716 211. Or book a no-obligation consultation using the form at the bottom of the page.

Why choose us for equity release?

  •  Free: We don't charge you for our advice. There aren't any hidden fees

  •  Unbiased: Our advisors don't work to sales targets, bonuses or commissions


  • Specialist: We offer advice to all, from managing debts to those looking to retire


  • Trustworthy: Last year 98% of our clients said they would recommend us to family or friends

Equity release options

There are three types of equity release available. How much you can release varies between providers but usually depends on your age, health, and value of your home.

Our qualified team will guide you through the entire process, making sure you understand the features and risks so you can make a fully informed decision. 

Katherine's story: Which? recommended our equity release service

After being referred to us by Which? magazine, Katherine was able to pay for essential home improvements, and help pay for her daughter’s university fees.  

Watch her story and find out how why she recommends StepChange Financial Solutions.

Using equity release to pay off debts

If you're looking for ways to deal with your debts, equity release might be an option for you. However, it's important to get expert advice first as there could be other more suitable alternatives for you to consider.

Our free online advice tool takes around 20 minutes and can help you find the best way to deal with your debts based on your situation.

Common equity release questions

Yes, you will continue to own your own home providing fulfil the terms of your agreement. All plans that meet the standards set by the Equity Release Council guarantee lifetime tenancy in your property, regardless of what happens to future interest rates, property values or investments.

There are four main costs associated with equity release.

1. Advice fee

At StepChange Financial Solutions we don't charge any advice fees.

2. Valuation fee

This is payable when you submit your application and usually depends on the estimated value of your property.

3. Legal fee

We recommend that you agree a fixed fee with your solicitor once your equity release offer is confirmed. Typical legal fees range between £400 and £500. If you’re purchasing a property, or the legal position of your property is not straightforward, additional costs may apply.

4. Application fee

Some lenders may charge an application fee. Where this is the case it typically costs £695.

The amount of inheritance available will be the difference between the proceeds from the sale of the house and the amount outstanding on the plan when it's redeemed.

We can't predict the future value of your property when it's eventually sold so we can't predict what inheritance will be available.

Some providers offer an inheritance protection facility on their plans which lets you protect a specific percentage of the property's future value. Your advisor will discuss this option if one of your priorities is protecting an inheritance.

Important considerations

Before releasing equity from your home, it's important to consider that:

  • Releasing equity might affect your tax position and entitlement to means-tested benefits
  • There may be more suitable alternatives, such downsizing to a smaller property or remortgaging
  • Future property prices might 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 might leave
  • There are implications to securing other debts against your home
  • Consolidating debts over a longer period may mean you pay more overall
  • Your home may be repossessed if you don’t keep up repayments on your mortgage

Find out more about equity release

Whatever the reason, if you're thinking about releasing equity in your home, you may have questions about how it affects you. It's important to get the facts before making your decision.

Arrange your free no-obligation equity release consultation today

If you have any questions or you'd like to discuss your equity release options please get in touch.

The easiest way to contact us is by calling 0808 2716 211 free from a mobile or landline. We're open Monday to Friday, 9am to 5pm. Alternatively, if you'd prefer someone to call you back please complete the contact form below.

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

Helping you become debt free...

“I wish to thank your staff for all the great help they gave me when I was in so much debt.
They were a pillar of support to me.” (Leslie, Essex)

Foundation for Credit Counselling Wade House, Merrion Centre, Leeds, LS2 8NG trading as StepChange Debt Charity and StepChange Debt Charity Scotland. A registered charity no.1016630 and SC046263. It is a limited company registered in England and Wales (company no:2757055). Authorised and regulated by the Financial Conduct Authority.

We link to external websites where they contain relevant information for our visitors. We're not responsible for the content of these websites, or any infringement on your data rights under data protection regulations by any external website provider.

*This is the average rating of our service based on the StepChange reviews on Feefo by DMP and DRO clients three months into their solution.

© StepChange Debt Charity 2019