Equity release

Equity release & lifetime mortgages with Greenlight Mortgages

Greenlight Mortgages specialise in equity release and lifetime mortgages.

Equity Release

Equity release allows homeowners who are over 55 to unlock the value in their property by turning it into a cash lump sum or regular income. There are typically no monthly repayments to make and you continue to own and live in your home until you die or move into permanent care; only then is your plan normally repaid from the sale proceeds of your property.

If you are over the age of 55 and a homeowner, you are probably eligible to take out an equity release plan. The money you release is tax-free and yours to spend on what you want. Popular choices are home improvements, repaying debts, helping children on to the property ladder or simply enjoying later life.

Lifetime Mortgages

A lifetime mortgage is the most common type of equity release scheme and is usually secured against your main residence. This is a mortgage designed to run for the lifetime of the homeowner, in which the property remains 100 percent in your name.

Unlike traditional mortgages, there are typically no month-to-month repayments to make, but most plans now have the facility to make voluntary repayments to help control the balance, if needed.

What are the benefits of equity release?

No need to downsize

Equity release means you don’t have to experience the stress, inconvenience, and cost of moving out of your family home to a smaller property. It provides not only financial freedom, but importantly - freedom of choice.

Financial Freedom

Whether you want that new kitchen or holiday you’ve always dreamed of; or want to help your children buy their first home, it’s up to you how you spend your cash. Your money is tax-free and what’s more, you can take your money as a lump sum, income or in several smaller chunks – giving you more flexibility.

Why use us?

We offer a free, no-obligation initial consultation.

We are a local, independent brokerage that can advise on lenders and products from the whole of the market; this will ensure we advise you on the best deals out there, as opposed to advisors who are tied to one or more specific lenders.

A lifetime mortgage is a long-term commitment which could accumulate interest and is secured against your home.   Equity release is not right for everyone and may reduce the value of your estate. 

There may be a fee for arranging a mortgage and the precise amount will depend of your circumstances. For equity release this will typically be an overall cost of £899.