Equity is the amount available in your property, less a mortgage or any other debt secured on it. For example, if your home is worth £150,000 and you have £20,000 still owed on a mortgage, £130,000 is available equity.

Equity release allows some of this equity to be provided as cash or a lump sum, whilst the homeowners still live in their home, rent free for the rest of their lives, or until they go into long-term care.

Please note that any existing mortgage or secured debt must be redeemed from the proceeds of the equity release plan.

Home Reversion Plans and Lifetime Mortgages are the two different types of equity release products available.

Click here to link to our Equity Release Guide for a detailed description.

Interest rates for Lifetime Mortgages are usually fixed for the life of the plan and vary with each lender.

Home Reversion Plans do not charge interest; the ownership of the percentage being released transfers to the provider, which means they receive the value of that share, upon the sale of the property.

Click here to request a call back from one of our advisers to discuss which option may be most suitable for you.

The amount available varies depending on which plan is most suitable for you. Currently the amounts typically range from 10% to 60% of the property value, depending on your age and other circumstances.

One of our specialist advisers can provide more detail and information which is based on your personal circumstances.

Equity Release is a very important decision and one not to be taken lightly. As a consequence of this and our vast experience in Equity Release, we believe advice should be given face-to-face, allowing us to find out all we need to about you, and provide you the opportunity to ask us any questions, and make the right decision based on our advice.

Based on this, we would like to see you for your appointment. However we are also happy to do everything over the phone and via the post if you prefer.

Contact us about making an appointment.

Yes, we only charge an advice fee should you choose to go ahead and complete an equity release plan as a result of our advice.

Our advice fee is normally £795, payable upon completion of an equity release plan. This can be deducted from the amount released for your convenience.

There is no charge should you decide not to go ahead with an application, or Equity Release is not the right solution for you.

Find out more about our advice service.

Yes. Most Equity Release providers charge for completing a plan, however there are some fees that are refunded on completion, or added to the final sum released, depending on the provider.

We recommend that you talk to your family about all options, before reaching a decision about Equity Release.

Equity Release can reduce the amount of inheritance available to your family or beneficiaries. It is important that you review all of your options before going ahead with Equity Release.

Click here to see what alternatives there are to help increase your income.

In general, an Equity Release Plan will take between 6-8 weeks from application to receipt of money. This is just a guide; the actual length of time will depend on the provider and your circumstances.

Home & Capital Advisers only provide advice about plans from Safe Home Income Plans (SHIP) members, ensuring homeowners can remain in their property for as long as they wish.

This is just one of the protections provided by SHIP members.

One of the main differences between a Home Reversion Plan and a Lifetime Mortgage is ownership of the property. If taking out a Lifetime Mortgage, you will still own your home; however the lender will have a charge on the property, similar to a residential mortgage.

With a Home Reversion Plan, the title of your property will be transferred to the equity release provider, meaning they receive the value of that share upon the sale of the property.

It is possible to take out a partial Home Reversion Plan, meaning you still own a percentage of your property. It is important to understand that all Safe Home Income Plan (SHIP) products ensure the homeowner can remain in their property for as long as they wish.

You must continue to maintain your home to a good standard. It is also a requirement that you ensure the property is sufficiently insured. We recommend you also have contents insurance.

All Lifetime Mortgage and Home Reversion Plans provided by Safe Home Income Plans (SHIP) members, allow the homeowner to move home and transfer the plan to a new property, subject to the new property meeting the provider's criteria at the time.

Our expert advisers only recommend products approved by SHIP; click here to request a call back or further information.

The Equity Release Plan will come to an end upon you or the last surviving homeowner moving into long term care. Your property will usually then be sold.

Yes; some companies offer a higher release amount if you have an impaired life, for example heart disease. However, this will depend on your personal circumstances and the company.

Ask our expert advisers for more details.

Equity Release is an arrangement designed for life. All plans allow for repayment of the amount released, however it is important to note that you may be charged an early redemption fee for doing so.

Your adviser will give you detailed information and talk you through the options before you go ahead with an Equity Release Plan. Click here to request a call back about advice.

All Equity Release Plans come to an end when you or the last surviving homeowner passes away. Depending on the type of plan, your property will either be sold by the provider or the beneficiaries of the estate.

If your plan is in joint names, you partner will be eligible to remain in the property until they move into long term care.

The effect of Equity Release on benefits very much depends on your personal circumstances.

Your Home & Capital Adviser will be able to give you information about how equity release may affect your personal benefits.

No; any money raised from Equity Release is tax free, unless it is invested so you receive interest or dividends, which would be liable to income tax in the usual way.

Yes, Equity Release providers require you to have your home valued. There will usually be a charge for this, normally on a scale depending on the estimated value of the property. Some providers refund this fee on completion.

Ask your adviser for details.

Yes. One of the Safe Home Income Plan (SHIP) protections for homeowners is that they receive independent legal advice when completing Equity Release.

It is important that you choose a solicitor; we cannot recommend any to you. Many homeowners find a solicitor via The National Solicitors Network. The network has approximately 150 solicitor members, all of whom are signed up to undertake equity release work for homeowners. The National Solicitors Network can be contacted on 0845 389 0380.

If the Equity Release company is sold to another company, it is likely the new company will continue according to the current agreements in place.

If the company does not get taken over, you may be able to seek compensation from the Financial Services Compensation Scheme (FSCS), as all Safe Home Income Plans (SHIP) members are regulated by the Financial Services Authority (FSA).

We are happy to answer any further questions you may have at any time.

Please call us free on 0800 253 657 or e-mail us at enquiries@homecapital.co.uk with details of your enquiry.