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.

Whether you're looking to pay off an existing mortgage, make some home improvements, gift money to a family member, equity release with a lifetime mortgage could be an option.

More about how equity release works

Is equity release right for you?

To be eligible to release equity from your home with one of our lifetime mortgages:

  • You must be aged 55 or over.
  • You must own (or be buying) your own home, with little or no mortgage left to pay.
  • Your home must be worth £100,000 or more.

Our equity release specialists are available to answer any questions you have. Why not give us a call today. Or, if you'd rather, you can give us your number and we'll give you a call back.

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.

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

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

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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.

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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

Experienced equity release and lifetime mortgage specialists, since 2015 we've lent £4.4bn to over 89,000 customers.

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5-star products

Moneyfacts awarded our Lifetime Mortgages five stars in 2019.

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Responsible lender

As a member of the Equity Release Council, we uphold their standards and safeguards.

Later Life Lender of the Year 2020

Later life lending specialists

Awarded Later Life Lender of the Year in The Mortgage Awards 2020

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