Now sometimes referred to as ‘retirement lending’, equity release often takes the form of a lifetime mortgage, which you do not need to repay unless you wish to.

Many people have significant equity but most or a large part of it is locked up in either their home or rental properties, a large portion of which you could access tax-free.

Lenders now guarantee you can remain in your home for the rest of your life, or until you have to go into care, and that the property cannot fall into negative equity.

Releasing this tax-free money can be used to:

• Pay off existing mortgages

• Improve your lifestyle

• Fund home improvements

• Help children on the property ladder

• Help pay for grandchildren’s school fees

• Gift money to loved ones within your lifetime

• Help reduce your inheritance tax liability

• Allow you to retire

Whatever your reason in the right circumstances this is an excellent option.