What is equity release?

Equity release is a way of releasing cash (equity) from your home while you still live there. The most popular type of equity release is called a lifetime mortgage, which is a loan secured on your home.

Lifetime mortgages are available to homeowners aged 55 or over. You can take the money as a lump sum, series of lump sums or as a regular income. No repayments are required until you die or move out of your home into long-term care.

How does equity release work?

Is a lifetime mortgage right for you?

Use the money however you want

Home improvements, pay off an existing mortgage or just topping up your monthly income – it’s up to you. There may be cheaper ways to borrow money

Provide an inheritance

You can protect part of the value of your home so it can still be left as an inheritance. More about equity release and your inheritance

You don't have to move home

A lifetime mortgage means you can stay in your own home, but still access the money tied up in it

Fixed interest rates

Our rates are fixed so they will never change during the life of the loan

Nothing to repay while you live in the home

You don’t have to repay any of the money or the interest until you die or move permanently out of your home into long-term care. Repaying a lifetime mortgage

No negative equity guarantee

Whatever happens to the value of your property, you will never owe more than the price it is sold for. Subject to terms and conditions

What will you do with the money?

Here's how people who called our equity release specialists said they'd use the money released from their home. Remember, you may have to pay an Early Repayment Charge to your existing lender if you remortgage. If you give the money away, the recipient may have to pay inheritance tax in the future.

House icon

12% said they'd use their lifetime mortgage to pay off an existing mortgage

Paint roller icon

25% said they'd use their lifetime mortgage to make some home improvements

Icon of a hand holding out money

9% said they'd use their lifetime mortgage to gift money to or support their family

Equity release calculator

This calculator helps you see how much equity you could release with a lifetime mortgage, a loan secured against your home. We'll ask you to register your details to show you the calculation, then give you a call.

I am years old
My home is worth around
I'm looking to release

This is a guide to the lifetime mortgage products we offer and not advice or a personal recommendation. You can only buy a lifetime mortgage through a financial adviser.



Why choose Legal & General for equity release?

  • Since 2015, we've lent £4.4 billion.

  • We've lent to over 89,000 customers.

  • On average, we process 400 applications each week.

Photo of woman on phone call

Get in touch to see if we can help you release equity

To have a chat about your options for releasing equity from your house, call us on the number below.

For any other enquiries please get in touch via our contact us page

0808 301 70440808 301 7044

Monday to Sunday 8:30am - 8:00pm

We may record and monitor calls

Lines now open

Common equity release questions