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Equity Release Hampshire - Lifetime Mortgage Near Me

Lifetime Mortgages, Home Reversion, and General Equity Release Advice in Hampshire.
Reviewed by Tom Philips

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Equity Release Hampshire & Near Hampshire

If you have heard of equity release Hampshire, you may have dismissed it as something that is not applicable to you. However, if you are over 55 years old and you own a property that is worth at least £70,000 in Hampshire, you could be an equity release consumer.

People release equity for all sorts of reasons, so you do not necessarily have to be in a dire financial situation to do this.

Some people use their loan for exciting projects, home improvements and family trips, whereas others use it to pay the bills and help out their family and friends.

If you reach out to us, you could be taking equity in a matter of months, so start deciding what you could spend your loan on that will help you to get the most out of your later years.

Please call our 24-Hour Helpline: 0330 058 1579

How Equity Release Hampshire Works?

There are people in retirement who are unable to enjoy their later years due to financial issues. Equity release in Hampshire is a scheme that acknowledges this disadvantage and aims to help retired people change their financial situation.

There are also others who benefit from equity release, even though they may not be retired, or financially insecure. For example, they may need more money to pay for home renovations, or to retire early instead of having to work until they hit State Pension age.

When someone is eligible for equity release, they can apply to the scheme by sending an application for an equity release product to a lender in Hampshire.

They will have an idea of how much money they can gain, but this will be confirmed via property valuations.

Most customers apply for lifetime mortgages, which are mortgages with zero obligatory repayments.

They receive tax-free cash from their equity release loan – either as steady monthly payments or as one lump sum. Although interest builds on this cash, no payments have to be made by the customer.

Home reversion plans can also be a sensible route for older people in Hampshire. An equity release provider will purchase the customer’s property (or a share of the property) and offer a tax-free loan in return.

For both lifetime mortgages and home reversions, the equity release provider eventually gets their money back through the sale of the customer’s home. This happens when the last customer goes into permanent care or passes away.

Please call our 24-Hour Helpline: 0330 058 1579

Is Equity Release Hampshire Safe?

If you commit to seeking accurate information about equity release Hampshire, your future will be safe. However, by ignoring professional advice, you could end up dealing with an equity release scam.

Only Equity Release Council (ERC) members can be trusted to offer secure equity release plans.

This does not mean that non-ERC lenders are all scammers, but that ERC members abide by safe guidelines at all times. If they happen to break an ERC rule, there are consequences, and the customer is protected.

This means equity release consumers in Hampshire should find a provider who is a member of the ERC.

They should also ensure their equity release plan is suitable for their personal situation, as the scheme can quickly become unsafe if a consumer selects the wrong plan.

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Am I Eligible for Equity Release in Hampshire?

You are eligible for equity release in Hampshire if you:

  • Own a house or apartment
  • Have a property value of £70,000 or more
  • Are at least 55 years old

Most people who fit these criteria can take out equity from their home with an equity release provider in Hampshire. However, other factors apply, so it is vital to meet with an adviser to establish your eligibility.

Why Choose Our Equity Release Company?

As you will see as you explore our site, we are incredibly knowledgeable in all things equity release. It is something we are passionate about as we have seen it improve people’s lives time and time again.

What could be more exciting than accessing money that is already tied up in your assets, and using it to improve your life?

If you speak to one of our advisers, you are guaranteed to have a wonderful conversation in which all your needs are acknowledged, all your questions are answered, and any concerns are approached in an understanding way.

We know that releasing equity is risky, so we are prepared to discuss the disadvantages with you. Some equity release companies may avoid doing this as they are simply after your money.

However, we will happily discuss the alternatives of equity release and explain how you can benefit from them if you aren’t ready to release equity in Hampshire.

Our initial consultation is completely free of charge, so you don’t have to worry about paying out a large fee to simply hear more about equity release in Hampshire. We also offer an equity release calculator that is free to use, and we will explain how to use this later on.

Please call our 24-Hour Helpline: 0330 058 1579

How Can Equity Release in Hampshire Help You and Your Family?

If you are living in a valuable property in Hampshire yet you are not in the best financial position, you may feel as though there is nothing you can do to improve your situation short of working long hours and having no work/life balance, and that’s if you’re lucky enough to have a full-time job.

However, we are here to tell you that you could be earning money straight from your property in Hampshire. This is money that would have gone to your beneficiaries when you passed away, but instead, you can use some of it in your later years.

If you are concerned about the amount your loved ones will inherit, you could protect some of the funds if you request a plan that allows this.

It is also possible to gift some money to your loved ones while you are still alive, and they could put this towards something that will keep them stable in the future, such as a house deposit or a car.

Please call our 24-Hour Helpline: 0330 058 1579

The Different Types of Equity Release in Hampshire

Below, we outline the types of equity release in Hampshire:

1. Lifetime Mortgages in Hampshire

First, we have lifetime mortgages, the most popular and most widely available option in Hampshire. We’re all familiar with the idea of a traditional mortgage that must be paid each month and can be paid off in full if the homeowner has the means to do so.

On the other hand, a lifetime mortgage is not paid on a monthly basis (unless you choose to do so). With this plan, there is an agreement that the homeowner will receive a loan and the debt they get into will not need to be resolved until they pass away or go into long-term care.

The way this works is that, when the consumer dies or goes into care, the property is sold and the proceeds first go to the equity release provider, which will cover the cost of the loan and any interest that has accrued, including compound interest.

This means that when you receive the loan, you do not have to worry about how much you’re spending and when you’re going to be in a position to pay it back. Instead, you can enjoy your money and treat it as your own income.

Some people choose to receive the loan all in one go, as a lump sum, whereas others prefer monthly payments or withdrawals as and when they need the funds.

We cannot recommend the best option until we know more about your situation but do get in touch and we will discuss this with you.

2. Home Reversion Plans in Hampshire

Home reversions in Hampshire are less popular than lifetime mortgages, and this may be partly to do with the fact that it involves selling part or all of your home, and lots of people aren’t prepared to do that.

When you sell your home, it goes without saying that you will no longer be listed as the homeowner, and this can put some people on edge.

However, you will continue to live in the property and benefit from it in this way, as well as receive a tax-free lump sum of money (instead of monthly payments) to spend on anything of your choosing.

As home reversions involve lump sums of cash, you do not have to worry about the interest rate being high as you will not pay interest on the loan. However, it is important to remember that the loan amount will be less than the value of your home, so don’t expect to receive more than your property’s market value.

Please call our 24-Hour Helpline: 0330 058 1579

What Can I Use the Loan For?

Before we discuss the different things, you could spend your loan on, we want to say that this is entirely your choice, and you will not be pressured to put the loan towards a specific thing. Once you are enrolled on the plan, the money is yours, and you can use it how you would like.

One thing we encourage our clients to spend their loan on is bills. If you are not managing to afford your Hampshire home, there is no point putting money towards other things until you have this under control.

If you want to do this, it is probably best to opt for monthly payments to keep on top of your expenses.

Another option could be to gift money to your close family if they are struggling to make ends meet.

With a traditional loan, you would have the burden of having to pay it back soon, whereas an equity loan affords you the ability to sit back and relax when you are spending it as you know your house sale will cover the costs.

It goes without saying that if you choose a specific plan, you will be expected to spend your loan on a particular thing, because you took out equity with the purpose of pursuing a particular project.

This is applicable to buy-to-let plans, which allow you to purchase a property to rent out, and second/holiday home plans, which are often for holiday homes.

Please call our 24-Hour Helpline: 0330 058 1579

Discovering How Much You Can Borrow in Hampshire

Earlier on, we mentioned our equity release calculator, as we believe it’s an essential tool to use before you get involved with equity release. The way this tool works is that you type your age, property type and property value, and a figure is calculated.

This figure tells you how much money you could release from your Hampshire property. Generally, the higher your age and property value, the higher the amount will be.

However, keep in mind that this calculator only goes off three factors, and there are other factors that influence the amount of money you could unlock, so do not take this estimate as a final quote.

For a personalised quote, add your postcode, phone number and email here, and we will be in touch as soon as we can. However, you will only know the exact amount that you could release after you speak to an adviser and have a valuation on your house.

Please call our 24-Hour Helpline: 0330 058 1579

What Happens If My Hampshire Property Decreases in Value After I Take Out Equity?

Do not worry about your property decreasing in value over time. The majority of modern plans have no negative equity guarantees in place, and this means you will never have to pay back more than the value of your home, even if the equity release provider ends up losing out.

Make sure you select a scheme with this guarantee otherwise, we cannot assure you that you will not owe more than your property’s value. Remember that this will not be your issue anyway as it will occur when you die or go into long-term care.

However, to avoid this tricky situation for your family, it is necessary to have a guarantee in place. Even if the interest builds rapidly and increases the amount you owe, the lender will still only expect the proceeds of your home sale, as this is the agreement you will have signed.

All lenders and brokers we work with are regulated by the Financial Conduct Authority. Some of the reputable lenders the financial advisors will research on your behalf include Scottish Widows, Legal & General, Aviva, Liverpool Victoria (LV), Canada Life, more2life, Hodge, SunLife, Saga, Halifax, Nationwide, Just Retirement, Pure Retirement, One Family and LiveMore Mortgages.

Please call our 24-Hour Helpline: 0330 058 1579

Why Would I Decide to Release Equity Over Other Options in Hampshire?

We cannot deny that there are other options you could choose before equity release, such as credit cards, downsizing, borrowing from loved ones, and re-mortgaging your house.

If you want to discuss any of these in more detail, we are happy to do so over the phone.

However, in terms of why equity release in Hampshire can be a preferable option, it relieves many pensioners of the pressure of owing money back soon, which is a wonderful feeling in your later years.

It is also easy to access in Hampshire thanks to the various types of plans. Finally, it does not always require income checks, so it’s ideal for people who are low-income and yet own a valuable property.

However, this is not to say equity release is not without its drawbacks, a list of why you can read here. For this reason, you may want to first consider the alternatives to equity release.

It’s also worth warning you that if you are in receipt of state benefits when you start receiving equity release payments, the Department for Work and Pensions may stop your benefits.

If you are releasing equity to combat the cost of living, then it might be better to first try to see if you can better manage your budget. Below, we list organisations that may be able to help in Hampshire:

1. Citizens Advice Hampshire

Address: Units 1-2, c/o Wood Hicks, Warrior Court, 9-11 Mumby Rd, Gosport PO12 1BS

Telephone: 0808 278 7942


2. Age Concern Hampshire

Address: Centre Way, Locks Heath, Park Gate, Southampton SO31 6DX

Telephone: 01962 868545


3. Age UK

Address: The Orchard, White Hart Ln, Basingstoke RG21 4AF

Telephone: 01256 423874


4. Age UK Southampton

Address: Freemantle & Shirley Community Centre, Randolph St, Shirley, Southampton SO15 3HE

Telephone: 023 8036 8636


If you would like to see more resources of this nature, be sure to visit Hampshire County Council’s website, and check out the help that’s available through organisations such as The Money and Pensions Service.

Please call our 24-Hour Helpline: 0330 058 1579

What is the Best Way to Navigate Your Website?

Our website contains a wealth of information about equity release. However, we are aware that the sheer amount of information and advice can be overwhelming, so we want to help you navigate our website in order to make the most of it.

First, we would recommend that you check out the plans section to see the different plans that are available in Hampshire and in the rest of the UK. You do not have to become an expert in each scheme before you speak to us, but it can help to have a basic understanding.

Next, head to our help centre where you can find answers to many commonly asked questions about taking out equity, such as how much equity you can release, how equity release works, the disadvantages of equity release, how much equity release costs, if it is safe, and whether early repayment is possible.

Finally, visit our blog and delve into interesting topics relating to equity release, including how it affects inheritance, what the different interest rates are, explanations of equity release jargon, and the best scheme for borrowing in retirement.

These blogs are not specific to Hampshire, but they will still be helpful as they may cover subjects that directly relate to you and are difficult to find elsewhere online.

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What Happens If I Don’t Live in Hampshire?

Don’t worry if you are interested in releasing equity yet you are not a homeowner in Hampshire. As long as you are aged 55 or above and own a property valued at £70,000 or above, we can help you.

See our list of areas to find out if we work in your town or city. We cover various other countries as well as the UK, so our services are extremely accessible. We are adding to this list all the time so don’t despair if you can’t see your local area on there.

As your equity loan amount is partly dependent on your location, we cannot promise that you will receive the same loan amount in another area as you would in Hampshire. To figure out an estimated amount, speak to one of our advisers.

Please call our 24-Hour Helpline: 0330 058 1579

How Long Does Equity Release in Hampshire Take?

If you make the decision to release equity in Hampshire, it will take between 6-8 weeks. You may have heard of shorter or longer equity release processes, but the average is around 7 weeks.

It takes time to meet with an equity release adviser and explore different equity release plans, so keep this in mind as you navigate the process.

Even if the official process takes 7 weeks, you need to consider factors including the time it takes you to choose a plan, response times, and how busy the scheme is when you apply.

How Much Does Equity Release in Hampshire Cost?

The cost of equity release in Hampshire is somewhat dependent on what the customer is willing to spend their money on.

Most customers will spend a minimum of £2000 on equity release, including advice, administration fees, solicitor costs, and property valuation fees.

However, it’s possible to spend much more by being selective about the adviser you work with, the guidance you receive, the solicitor you choose etc.

Whether you have a large or small budget, make sure you keep quality in mind. Affordable advice is great, but only if it comes from a professional, regulated adviser.

Please call our 24-Hour Helpline: 0330 058 1579

Is There a Maximum Amount I Can Borrow?

Yes, there is a maximum amount you can borrow with equity release in Hampshire. The amount is different for each customer, as it is mostly calculated based on the value of the house or apartment.

We recommend exploring different equity release plans on the market, as some will allow you to borrow a higher percentage of your home than others.

There are also factors that can increase the percentage for certain customers, such as:

  • Having a property that’s in excellent condition
  • Being above a certain age
  • Having a health condition

Generally, you can expect to release between 20-60% of your home’s value through equity release in Hampshire.

Please call our 24-Hour Helpline: 0330 058 1579

Equity Release in Hampshire Vs Remortgaging

Equity release in Hampshire and remortgaging can both be sensible ways to boost income.

If you are in need of a large sum of money, either at once or in instalments, equity release is generally the most suitable scheme. It allows consumers to release a large amount of money due to the fact that the lender charges compound interest on the loan.

There are also elements of equity release that make it more suitable for people in retirement, given that it is a scheme for people aged 55 and over. For example, the enhanced lifetime mortgage offers lower interest rates for people above a certain age.

Remortgaging is often a better option as a short-term solution to financial issues. Although it is still a big commitment, it doesn’t involve compound interest or early repayment fees.

Plenty of people are ineligible for equity release in Hampshire and must pursue other options, such as remortgaging. It can be easier for younger people and people with low property values to qualify for remortgaging.

Please call our 24-Hour Helpline: 0330 058 1579

Do You Pay Monthly Interest on Equity Release in Hampshire?

It is not often necessary to pay monthly interest on equity release in Hampshire, meaning you can save up a large amount of money from your equity release loan.

Instead of charging monthly interest, equity release providers sell the property at the end of the scheme, which covers the initial loan amount and any interest that has accrued.

Some equity release plans in Hampshire give customers the opportunity to make interest payments early, so that they owe less money by the end of the scheme. An example of this is the interest only lifetime mortgage.

Other products already charge low interest rates, so consumers may not find it necessarily to make monthly payments. The average interest rate is around 5%, though this changes regularly as different lenders increase and decrease their rates.

Please call our 24-Hour Helpline: 0330 058 1579

Can I Use Equity Release in Hampshire For Buy To Let Property?

Buy-to-let properties in Hampshire cannot be put forward for the equity release scheme. Homeowners must take equity out of the home they live in, and be prepared to stay in that home permanently (unless they need to move into a residential care home).

There is a buy-to-let lifetime mortgage, but this is not a scheme designed for buy-to-let homes. It’s a product that helps customers to raise enough money to purchase a second home and make it a buy-to-let property.

Can I use Equity Release in Hampshire to Pay Off Interest-Only Mortgage?

Yes, you can apply for equity release in Hampshire in order to pay off an interest-only mortgage. However, you must make this clear to your provider when you apply for a plan.

This is because providers prefer for their customers to be mortgage-free, and if you still have a mortgage to pay off, they need proof that you are going to use the equity loan to pay off this debt.

Can I use Equity Release in Hampshire for Home Improvements?

Yes, you can release equity in Hampshire to pay for home improvements. There is no need to stipulate this in your application, as you are under no obligation to use your loan for a specific cost.

However, it may be helpful to mention home improvements to your equity release adviser. This is because they can advise you on the best plan to select and the most appropriate amount of money to release for home improvements.

Please call our 24-Hour Helpline: 0330 058 1579

Can I Use Equity Release in Hampshire to Pay for Care Home Costs or Medical Bills?

You can save up your equity release in Hampshire loan to pay for care home costs or medical bills. Again, this is not something you need to request, as your provider cannot tell you what to spend your loan on.

If your savings exceed a certain amount, you may not be able to access financial aid when it comes to care and medical costs. Speak to a financial adviser about this to ensure you make the best decision for your future when selecting an equity release product.

Can I Use Equity Release in Hampshire For a Divorce Settlement?

Equity release in Hampshire can be used for divorce settlements. It can help couples to manage the financial impact of divorce by borrowing money that does not need to be repaid.

If one member of the couple purchases a lifetime mortgage product, they could buy out their spouse and become the sole owner of the home.

They would then need to stay in the same home for the rest of their life, unless they were willing to pay an early repayment fee, or their lender did not charge for early repayment.

Please call our 24-Hour Helpline: 0330 058 1579

Can I Leave an Inheritance With Equity Release in Hampshire?

Yes, the majority of people want to leave an inheritance to their family, and this includes equity release consumers. They may have to settle for a reduced inheritance due to taking out money from their property, but they do not have to give up on the idea of inheritance in general.

Many equity release products offer inheritance protection, which means you can reserve money for your loved ones, even if you owe a large amount to the equity release provider.

Will My State Benefits Be Affected By Equity Release Hampshire?

Means-tested state benefits can be affected by equity release in Hampshire, but only if the equity release consumer’s savings exceed the minimum amount for the state benefit in question.

At that point, the amount of funds received from the government will either be reduced or removed. This will not happen if the state benefit is not measured by income (such as a disability-related benefit).

Please call our 24-Hour Helpline: 0330 058 1579

What is the Equity Release Council?

The Equity Release Council is a body that protects equity release in the UK, including in Hampshire. It makes the scheme safe by asking its members to follow guidelines and principles that prioritise the equity release consumer.

What is a No Negative Equity Guarantee?

This guarantee is something that all ERC members must provide. It means Hampshire customers with ERC-approved lenders do not get into irresolvable debt with equity release, even if they borrow large amounts and do not opt to repay interest.

Without this guarantee, the provider adds up the amount of money the customer borrowed in the first place, and any compound interest that has accrued.

However, with a no negative equity guarantee, the amount of money the provider takes back cannot exceed the funds that are raised when the property is sold. This ensures the consumer’s family don’t have to pay the provider after their loved one has passed away.

Please call our 24-Hour Helpline: 0330 058 1579

Are There Any Potential Drawbacks to Equity Release in Hampshire?

There are potential drawbacks to this scheme, but most drawbacks are directly related to individuals not being suitable for equity release in Hampshire.

Drawbacks include:

  • Early repayment fees
  • Reduced inheritance
  • Lifelong mortgages
  • Set-up costs
  • Compound interest
  • Strict eligibility criteria

If someone already had a lot of savings, the reduced inheritance and set-up costs could prove to be huge drawbacks, as they are avoidable. This is a classic example of someone not benefitting from equity release as it is not an appropriate scheme for them.

However, someone on a low income may find that there are no significant drawbacks, as equity release has afforded them a great lifestyle and guaranteed inheritance.

Please call our 24-Hour Helpline: 0330 058 1579

Do I Have to Pay Tax on Equity Release in Hampshire?

There is no tax charged on equity release in Hampshire. Any money loaned through this scheme comes tax-free, including funds that are passed on through lifetime mortgages and home reversion plans.

Which Equity Release Company in Hampshire Is Best?

To find the best equity release company in Hampshire, speak to an equity release expert in the area. They will advise you on the best company to work with, based on the products they offer, their interest rates, and your personal situation.

While there is no company that is the best for every homeowner in Hampshire, there are companies that should be avoided by everyone. Unregulated companies have the potential to scam homeowners, or simply offer unsuitable products that are very expensive and bring minimal benefits.

As you look for the best equity release company in Hampshire, make sure you are only investigating regulated providers. They should be affiliated with the Equity Release Warehouse (ERC), which means they meet all product standards of the ERC (1).

The following are regulated equity release providers that are known in the industry for their expertise and solid customer service.

1. Nationwide

Based on Nationwide’s generous benefits for its equity release in Hampshire consumers, it’s evident that this company cares about its customers.

If you choose to release equity with Nationwide, you are entitled to a fixed lifetime interest rate. This means you can calculate how much interest you will owe by the end of the scheme, helping you to plan for the future.

2. Key Group

The advice offered by Key Group is second to none for equity release in Hampshire customers. In addition to this, the products on offer are highly desirable for anyone who wishes to release money from their property.

3. Canada Life

Flexible equity release in Hampshire is only feasible if you work with a reputable company, and Canada Life is exactly that.

You can either opt for Canada Life’s Capital Select or Lifestyle Select, but either way, you will be avoiding early repayment fees.

This means that if you decide to move home after releasing equity, you can do so without facing a hefty charge.

4. Just Retirement

Another brilliant company to select is Just Retirement. Equity release in Hampshire customers are able to repay the interest on their loan when working with Just Retirement.

This keeps interest debt low, which means the compound interest will not be as high as it is for consumers who do not repay the interest.

Please call our 24-Hour Helpline: 0330 058 1579

5. Lloyds Bank

Lloyd’s Bank works with Scottish Widows Bank to sell excellent equity release in Hampshire products to eligible customers.

A great advantage of working with Lloyd’s Bank is that they are already a well-established company in Hampshire, so they are keen to uphold a strong reputation. This means you can trust that the customer service will be fantastic.

6. Age Partnership

Equity release in Hampshire couldn’t be easier when you work with Age Partnership. This company is well-versed in offering top-of-the-range equity release services to its clients.

Plenty of customers have praised Age Partnership for its high-quality advice services. This service should not be overlooked, as getting professional advice on equity release is not only recommended, but obligatory.

7. Sunlife

If you are interested in a home reversion plan, look no further than Sunlife. Not all companies offer this type of equity release, but Sunlife is flexible in this area.

That being said, even if you are a lifetime mortgage enthusiast, Sunlife is still a wonderful company to work with. Its long history means that there is no situation Sunlife is unfamiliar with.

8. Legal and General

Equity release in Hampshire is hugely successful for many customers, but one common complaint is that certain companies restrict customers to just one equity release plan.

Fortunately, Legal and General cannot be accused of this. There is an option to select a flexible lifetime mortgage or a repayment lifetime mortgage, both of which are ideal for people in a variety of different circumstances.

Please call our 24-Hour Helpline: 0330 058 1579

9. Saga

Saga is dedicated to providing equity release in Hampshire customers with a quick service, without sacrificing quality.

Anyone who takes out equity with Saga and does not get their loan within 40 days is entitled to £100 cashback. However, in most cases, customers do not have to worry about not receiving their loan in a timely manner. Saga is passionate about efficiency.

10. Aviva

Equity release in Hampshire with Aviva is one of the best decisions you could make for retirement.

With a fantastic lifetime mortgage and low-interest rates, you could pay off your traditional mortgage, fund home improvements, go on a luxury holiday, or have enough money to comfortably pay your bills.

Please call our 24-Hour Helpline: 0330 058 1579

Do You Need a Solicitor for Equity Release in Hampshire?

All equity release customers in Hampshire must find a solicitor to help them work on their application. There is no obligation to pass on the bulk of the work to the solicitor, but doing so can relieve stress.

Some solicitors deal only with the main legal aspects of equity release in Hampshire, including title deeds and property valuations. However, others are hired to take control of most of the process, including the administration tasks.

Does Equity Release in Hampshire Affect State Pension?

You can get involved with equity release in Hampshire if you have a state pension. In fact, even if you have a large amount of money held in a state or private pension, your equity release application will not be affected.

Anyone claiming Pension Credit due to a low income should be careful when it comes to releasing equity. The Guaranteed Credit portion of this government benefit may be impacted, so discuss this with a financial adviser before settling on an equity release provider in Hampshire.

Please call our 24-Hour Helpline: 0330 058 1579

Can Equity Release in Hampshire Be Repaid Early?

Most equity release consumers do not want to repay their loan early, but it is usually possible to do so.

If you are intending on repaying the loan ahead of time, the first thing to consider is whether equity release in Hampshire is the right scheme for you. One of its benefits is the fact that repayment is not obligatory, so it may be better for you to go with a traditional funding option.

However, if you are drawn to equity release for other reasons, you can repay your loan early by selecting a voluntary repayment lifetime mortgage or an interest only lifetime mortgage.

Alternatively, if you don’t want to make regular repayments but you may want to exit the scheme one day, you could find an equity release product that does not charge an early repayment fee.

Please call our 24-Hour Helpline: 0330 058 1579

Can I Still Sell My House in Hampshire?

It’s harder to sell your home after releasing equity, as you make a promise to stay in the home for the rest of your life, and you may be subject to early repayment fees for leaving equity release behind.

However, it is possible to sell your home and stay with your equity release provider. This only applies if the provider allows the ‘porting’ of your equity release plan.

In this scenario, you can move into a ‘suitable alternative property’ (as per ERC standards) and your equity loan will be adjusted according to the value of your new property.

Can Equity Release in Hampshire Be Taken Out for a Leasehold Property?

People who own leasehold properties in Hampshire can take out equity, but we cannot promise that you will find a lender to suit your circumstances.

Freehold properties are preferred as the home ownership is more straightforward. That being said, if the lease on a leasehold home meets a lender’s standards, they can certainly accept a customer with this type of property.

Please call our 24-Hour Helpline: 0330 058 1579

Can Equity Release in Hampshire Be Taken Out for Tenants In Common?

Yes, you can release equity as tenants in common, but the names of both tenants must be on the lifetime mortgage or home reversion.

It is always important to speak to an equity release adviser before submitting an application, especially if your situation is unique – such as being tenants in common. You will need to work out what happens when one tenant dies, and include this in your equity release in Hampshire application.

Can You Rent Out Your Home With Equity Release in Hampshire?

No, you cannot rent out your home once you have released equity from it. This would impact the value of your property, and providers want to avoid this.

Using an Equity Loan Calculator

Equity loan calculators are great tools that can tell you how much money you could access by releasing money from your Hampshire property.

The Equity Release Warehouse calculator is completely free to use, and you do not have to be an existing customer of ours to benefit from it.

Select your age, property type and estimated property value to get an estimate of how much tax-free cash you could release.

Please call our 24-Hour Helpline: 0330 058 1579

How Does Equity Release in Hampshire Work When You Die?

Equity release in Hampshire is very well-organised in terms of what happens when the last homeowner passes away. By this point, the homeowner’s family should be well-informed on what to do, i.e., updating the equity release provider of the situation.

When the last homeowner in a couple (or a single homeowner) passes away, the equity release lender will start to make arrangements to sell the property.

Using the money that is raised from the sale, the provider will pay themselves back in line with how much money the homeowner borrowed. If a no negative equity guarantee has been offered, the family will never have to top up the payment, as a set amount will be taken.

What are the Alternatives to Using Equity Release in Hampshire?

The truth is that there is no perfect alternative to equity release in Hampshire. No other scheme allows you to lend tax-free cash without repayment and stay in your home for the rest of your life as the homeowner.

Yet, there are other alternatives that might provide you with similar benefits to equity release.

To be able to stay in the same home for retirement, you could either get a traditional mortgage, use a traditional loan scheme to cover monthly outgoings, or make the most of your pension.

If you want to loan money without repaying it, one option is to borrow funds from a loved one. This especially works if you need a small amount of money.

To fund home improvements and make your home suitable for retirement, you could downsize. Not only would the outgoings be more affordable, but it could also be cheaper to renovate a smaller home.

What’s more, you could move into a property that is already perfect for retirement, and this would save on renovation costs.

How Do I Get Started With Releasing Equity in Hampshire?

Once you have done your own research and decided equity release in Hampshire is something that is of interest to you, the next step is to speak to an adviser, and you can do this easily by contacting us.

Alternatively, you could reach out to a charity such as StepChange or an independent financial adviser.

Make sure the adviser is an equity release specialist, an Equity Release Council (ERC) member, and is regulated by the Financial Conduct Authority (FCA). All advisors we may refer you to are members of the Equity Release Council, as are the lenders. This ensures any equity release product you are sold comes with a no-negative equity guarantee.

The adviser can be self-employed or part of a wider firm. As long as the previous conditions are met, it doesn’t matter which adviser you see.

When you have a meeting with the adviser, they will most likely ask you a wide range of questions that are relevant to equity release in Hampshire, and this may involve discussing your income, credit rating, property value, age, family situation, and other personal details.

Not everyone is comfortable in these conversations, but we assure you that these questions serve to support you as you go on your equity release journey in Hampshire, and not to shame you. The adviser needs to understand your circumstances in order to recommend the best plan for you.

Always ask for a personalised illustration at the consultation. The best advisers will offer this anyway, but if there is no sign of one, request one as it can help you to see how equity release works and what the entire process will look like from start to finish.

Please call our 24-Hour Helpline: 0330 058 1579

Contacting Equity Release Warehouse

It couldn’t be easier to contact us. We are available to answer your questions from 8 am-8 pm from Monday to Sunday. You control how the consultation goes, so if you would rather us explain it all from start to finish, we are happy to do this.

Conversely, if you would rather ask your burning questions first, we will be a listening ear until you require our assistance.

We can advise you on a wide range of things from choosing the right plan for you to finding a solicitor, so don’t hesitate to ask us about any stage of the equity release process. We are always happy to help.

It is essential to utilise the services of a solicitor when applying for equity release. You are allowed to appoint a solicitor that’s local to you, and if you’ve taken out a Will or put in place a Lasting Power of Attorney, then it’s likely you will have a pre-existing relationship with a solicitor in your local area already.

All advisors we work with are regulated by the Financial Conduct Authority. This means you are covered under the Financial Services Compensation Scheme, and you lodge a complaint with the Financial Ombudsman Service (FOS) if you are unhappy about the advice you receive in relation to equity release.

All lawyers are regulated by the Solicitors Regulation Authority and are members of the Law Society of England and Wales. If you are unhappy about the legal advice you receive in relation to equity release, you can lodge a complaint with the Legal Ombudsman.

Get help for equity release across Hampshire in Aldershot, Alresford, Alton, Andover, Awbridge, Basingstoke, Bishops Waltham, Bordon, Brockenhurst, Chandler’s Ford, Dibden Purlieu, Eastleigh, Emsworth, Fareham, Farnborough, Fleet, Fordingbridge, Gosport, Hampshire, Hartley Wintney, Havant, Hayling Island, Hedge End, Lee-on-the-Solent, Liphook, Liss, Lymington, Lyndhurst, New Arlesford, New Milton, North Warnborough, Odiham, Petersfield, Portsmouth, Ringwood, Romsey, Rowland’s Castle, Southampton, Southsea, Stockbridge, Stubbington, Swanwick, Tadley, Tidworth, Totton, Waterlooville, Whitchurch, Winchester, and Yateley.

Please call our 24-Hour Helpline: 0330 058 1579


[1] Our Standards

We are here to help you

To Provide Friendly, Efficient Advice For The Life Of Your Mortgage.

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Request Free Brochure

Looking to release some cash that is tied up in your property?

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Contact Us

You can contact us by calling 0330 058 1579 or using our contact form

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How much can you release

Use our Equity Release Calculator to find out how much cash you can release