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Equity Release Oxfordshire - Lifetime Mortgage Near Me

Lifetime Mortgage & General Equity Release Advice in Oxfordshire
Reviewed by Tom Philips

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Equity Release Oxfordshire & Near Oxfordshire

On our website, you will find plenty of information about why homeowners should consider taking out equity from their high-value properties.

However, if you are specifically interested in why equity release is a good idea for Oxfordshire homeowners in the current market, you’re in the right place.

In 2022, the average property price in Oxfordshire was £464,361 (1). When you consider that the minimum value for equity release is £70,000, it becomes clear that homeowners in Oxfordshire could release a huge amount of money from their homes.

The more valuable your Oxfordshire home, the more money you could unlock from your property and put towards funding your retirement.

It doesn’t matter if you’ve been retired for many years and your pension is very small, as equity release funds do not have to be repaid until you pass away or go into long-term care, so it’s a great way to get your hands on money without stressing about debt.

What’s more, as the cost of living increases, it becomes all the more important for people to find ways to stabilise their financial situation. The sooner you take out equity from your home, the sooner you can enjoy your retirement without having to worry about not being able to pay the bills.

Given that the cost of living is already higher in the South than the North, more and more pensioners in Oxfordshire are realising that their pension is not enough to fund their lifestyle, so equity release can be a lifesaver in terms of avoiding poverty.

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What Could You Achieve With Equity Release Oxfordshire?

Equity release Oxfordshire offers a different thing to each homeowner. Some people are interested in receiving a small boost to their monthly income (income top-ups) to enable them to live comfortably, whereas others want to make large payments to transform their life after employment.

The equity release plan that you choose will largely determine what your experience of equity release is, which is why it is so important that you spend time finding the right one.

The decision is ultimately yours to make, but if you aren’t sure what you could spend your equity release loan on, here are some ideas based on what our equity release customers have done in the past.

1. You could go on luxury holidays with your partner

It is no secret that most people spend their adult lives putting their children’s needs first, whether that be driving their children to activities or going on family-friendly holidays. This can result in couples feeling drained by the time they retire, as they have spent many years caring for other people instead of themselves.

By purchasing dream holidays with your Oxfordshire equity release loan, you could take some time for yourself and your partner and experience what it’s like to put yourself first for once.

This could be a great opportunity to reconnect with your partner as you adjust to a new lifestyle that is less centred around children.

Alternatively, you could treat your whole family to a luxury holiday, allowing you to spend valuable time with your children and grandchildren when they would usually be busy working or studying.

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2. You could transform your home

With equity release, you are making a commitment to stay in your current property for the rest of your life. For this reason, it is essential that your property meets your needs and fills you with joy.

Many customers decide to put some of their equity loan towards home improvements. They may do this to make their home more disabled-friendly, which could include installing stair lifts or expanding rooms.

Others choose to alter the layout of their home and change the function of each room to make it more suitable for a retired couple. For example, they may extend the rooms they spend the most time in (such as the living room) and convert a guest room into a storage room.

3. You could help a loved one

With the cost of living rising, it is becoming more common for equity release consumers in Oxfordshire to use their equity loan to help out a loved one with their finances.

Some ideas for gifting money are: helping family members with house deposits, paying for a grandchild’s higher education, funding a child’s wedding, or paying the bills for your child each month.

The advantage of gifting money right now is that it is not liable for inheritance tax, so your family will get more money out of it.

Additionally, if you wait until you pass away for your family to inherit your money, they may have already had to deal with many financial challenges, whereas gifting money right now would prevent this from occurring.

4. You could pay off existing debts

Some people do not understand why you would get into debt with equity release in order to pay off your existing debts. However, once you understand the concept of equity release, this will make more sense.

With a traditional debt, you are pressured to repay the money by a certain deadline, and there are serious consequences if you cannot afford to do this. However, an equity release loan does not have to be repaid, so although you are still in debt, there is no deadline you have to meet.

By paying off existing debts with your equity loan in Oxfordshire, you can live a relaxed retirement as you can spend your money on whatever you want without worrying about making repayments.

However, if you are applying for equity release merely as a way of better coping with the rising cost of living, then it’s probably a better idea to first explore the alternatives to equity release, such as better managing your budget.

Below, we list organisations in Oxfordshire that can help you achieve this goal:

1. Citizens Advice Didcot

Address: Community Centre, 2 King Alfred Dr, Didcot OX11 7NU

Telephone: 0808 278 7907


2. Citizens Advice North Oxon & South Northants

Address: NOT IN, Castle Quay, 26 Cornhill, Banbury OX16 5NG

Telephone: 0808 278 7906


3. Citizens Advice Abingdon

Address: Abbey House, Abbey Cl, Abingdon OX14 3JD

Telephone: 0808 278 7907

4. Oxford Credit Union

Address: Bungalow, Pinkwell Ln, Hayes, Oxford UB3 1PE

Telephone: 01865 777757

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Busting Myths About Equity Release in Oxfordshire

Equity release in Oxfordshire is viewed as a controversial scheme by some people, as it is not as well-known as the traditional route of lending money, which involves repayments.

We want to bust some of the myths that are out there about equity release in Oxfordshire, as we want to ensure our readers are not blinded by negative reports of the scheme.

Myth 1: Equity Release in Oxfordshire is unsafe

As with any scheme, there are scams that you have to be wary of, so we cannot say that equity release in Oxfordshire is never unsafe. However, if you go about it the right way, it is a very secure scheme.

You should always select a lender that is a member of the Equity Release Council and affiliated with the Financial Conduct Authority (2).

You should also do your research before settling on a lender and a plan, as this will prevent you from having to pay an early repayment fee if you end up being unhappy with equity release.

If you are still concerned about the safety of equity release, our equity release specialists will be able to put your mind at rest by explaining how you are protected when you release equity with a reputable lender.

Please call our 24-Hour Helpline: 0330 058 1579

Myth 2: Equity Release in Oxfordshire is only for people with a steady monthly income

If you do happen to have a steady monthly income, either from work, your pension or something else, you are in a fortunate position as you can use your equity loan in Oxfordshire to boost what is already a solid income.

However, many consumers of equity release in Oxfordshire are considered low-income, and they rely on equity release funds to help them make ends meet. This is particularly true in recent years as many people’s pensions are not covering the high cost of living.

Myth 3: Equity Release in Oxfordshire is not possible if you are claiming benefits

If you are claiming means-tested state benefits, you will need to check your entitlement to equity release in Oxfordshire as it may not be possible to do both. However, do not rule it out, as some clients manage to do both – it all depends on the amount of income you are receiving.

What’s more, you may end up getting a large amount of money from equity release, so even if you end up losing your entitlement to benefits, you would still be in a better financial position.

Please call our 24-Hour Helpline: 0330 058 1579

Myth 4: You have to pay tax on equity release funds

We are pleased to say that you do not have to pay any tax on your equity release funds. This includes both income tax and capital gains tax. You can find out more about this in our article on equity release and tax.

In terms of inheritance tax, it is possible that your family will have to pay this on the funds they inherit. However, this is incredibly unlikely as the value of your estate decreases significantly after you take out equity from your home, so it usually will not reach the threshold for inheritance tax, which is £325 000. 

This means your family will most likely avoid the 40% inheritance tax that most families have to pay, meaning they will be entitled to more of your money.

Myth 5: You cannot release equity if you are in your 70s or above

There is a minimum age limit for equity release in Oxfordshire (55 years old), so many people assume there must also be an upper limit. However, most lenders and plans do not enforce a maximum age limit.

In fact, the older you are, the more beneficial equity release in Oxfordshire may be for you. You are more likely to be considered for the enhanced lifetime mortgage, which may result in you getting a larger loan and lower interest rates.

You will also get into less debt as the interest is rolled up with equity release in Oxfordshire, so the shorter the length of the scheme, the less interest you will owe back overall, and the less compound interest will be charged on the loan.

However, it is always important to check with the equity release lender for their age requirements. This is because some providers do not offer loans to customers above a certain age, such as 85 years old. 

Please call our 24-Hour Helpline: 0330 058 1579

Myth 6: You no longer own your home after releasing equity in Oxfordshire

Most equity release consumers take out lifetime mortgages, and on this type of equity release, you remain the owner of your home for the rest of your life.

It is true that you lose this ownership with a home reversion plan, so this is something to keep in mind. This happens because you sell your home to an equity release provider in exchange for the loan. This does not mean you have to vacate the home – you are expected to stay there for the rest of your life.

Myth 7: Equity release is too confusing for the average person to understand

We know that equity release in Oxfordshire may seem very complicated when you aren’t used to it. However, when you speak to an adviser, you will quickly realise that the scheme is straightforward.

Our blog post on equity release jargon will give you a headstart in understanding the scheme before you book an appointment with an adviser. Most of the confusion stems from the unfamiliar jargon, so once you’ve got a handle on it, you’ll be an expert in no time.

Please call our 24-Hour Helpline: 0330 058 1579

Speak to an Equity Release Adviser

Please contact us to learn more about equity release in Oxfordshire. We are available from 8am-8pm every day of the week. You can reach us on our phone line (0330 058 1579) or by filling out this callback form.

If you have landed on this page despite not being an Oxfordshire resident, don’t worry. We work in many towns and cities across the UK and even abroad, so we can most likely guide you even if you don’t live in Oxfordshire.

The fundamentals of the equity release scheme are the same everywhere, so all of the information on our website is applicable to you regardless of where you live.

However, if you get in touch with us, we will be able to explain equity release with reference to your location, including the value of properties and the availability of lenders in your area.

We can also discuss the alternatives to equity release for anyone who would benefit from a more traditional way of earning income. Some examples are: remortgaging, credit cards, downsizing, borrowing from loved ones, traditional loans, returning to work, and savings.

Access help and advice today across Oxfordshire in Abingdon, Banbury, Bicester, Bloxham, Burford, Carterton, Charlbury, Chinnor, Chipping Norton, Deddington, Didcot, Eynsham, Faringdon, Henley-on-Thames, Ipsden, Kidlington, Long Hanborough, Oxford, Thame, Wallingford, Wantage, Watlington, Whitney, Witney and Woodstock.

Please call our 24-Hour Helpline: 0330 058 1579


[1] House prices in Oxfordshire

[2] THE EQUITY RELEASE COUNCIL,safeguard%20the%20interests%20of%20homeowners.

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