Alternatives to Equity Release?
Exploring Other Options

Considering alternatives to equity release is crucial to finding the best fit for your goals.

In fact, some people discover that other options suit them better after discussing their circumstances with me.

However, for many others, equity release remains the ideal solution.

Sell your property, move into a cheaper one and release equity

Downsizing is a cost-effective alternative to equity release.
If you prefer staying in your current home for sentimental reasons or proximity to loved ones, equity release can be a suitable choice.

Downsizing alternative to equity release

Use your savings instead of releasing equity

Utilising existing savings avoids paying interest on equity release funds.
If your savings are insufficient or earmarked for other purposes, equity release may provide a viable solution.

Seek help from family or friends instead of releasing equity

Consider receiving or borrowing money from loved ones as a more cost-effective option.
If relying on family or friends isn't feasible, equity release could be the right choice

rent a room alternative to equity release

Take in a lodger for extra income instead of releasing equity

Renting out a room provides additional funds and potential tax benefits.
If hosting a lodger isn't suitable or feasible, equity release may be an excellent alternative.

Equity release may involve a home reversion plan or a lifetime mortgage, which is secured against your property and will reduce the value of your estate and impact funding long-term care.

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

Consider a standard mortgage or secured loan instead of equity release

These options may be more cost-effective if you meet income and affordability criteria.
If lenders' criteria or monthly repayments affect your lifestyle, equity release might be more suitable.

standard mortgage alternative to equity release

personal loan alternative to equity release

Explore unsecured loans as an alternative to equity release

Unsecured loans offer flexibility and avoid property security.
If committed monthly repayments or affordability pose concerns, equity release is worth considering.

Evaluate pension savings as an alternative to equity release

Untapped pension funds could be a cost-effective source of funds.
If there are no pension funds to utilise or you've been advised that it wouldn't be tax efficient to use them, equity release may be the solution.

Use pension funds alternative to equity release

Is equity release right for me?

If the none of the above alternatives to equity release suit your needs, then an equity release lifetime mortgage may be the solution for you.

Consider a traditional mortgage or a retirement interest only mortgage rather than equity release

This alternative may be more cost effective if you are able to make committed monthly repayments.
If being committed to monthly repayments would affect your lifestyle, then equity release may be preferable with the flexibility of optional repayments, subject to certain limits, or no monthly repayments instead.