27 Aug 2024
UK mortgage holders consider equity release to support care needs in later life
According to recent findings by LV= where 4,000 UK adults were surveyed, mortgage holders said that were likely to consider equity release to free up some money to take care of expenditures in later life.
The quarterly survey found that 11% would consider equity release to release funds to support their health or care needs when they are older. Whilst 8% of those surveyed said they would use the money as a way to top up their pension, and 7% said they would use it to financially help family or friends. Another 8% said they would use the money on holidays and lifestyle improvements in their later years.
One in three UK mortgage holders reported that they would consider equity release as an alternative to selling or downsizing.
Interestingly, one in five people said they did not plan on buying their own home, for those who rent this figure was 50%, and a third of people who lived alone said they hadn’t planned on buying.
Equity release is a way of releasing tax-free funds from your home to use for whatever reason you choose be it carrying out home improvements, helping to support family, or to book a fancy holiday. It is designed to allow you to stay living in your home until you either pass away or are unable to carry on living there.
As with any type of loan, there are risks and responsibilities involved all of which should be considered carefully. At Mortgage Required we understand this and will help you decide whether it is the best option for you, and will take the process at your pace. Give our friendly team a call: 01628 507477 or visit: https://mortgagerequired.com/later-life-lending for more information.
Recent posts
Nationwide is the first lender to allow mortgage deeds to be signed electronically and without the need for a witness.
Best UK Mortgage Rates this Week
3 days ago
Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.
Call us for more information: 01628 507477 or email: team@mortgagerequired.com.
‘My First Mortgage’ from major high-street lender Santander is specifically for those wanting to buy their first property. It allows first-time buyers to purchase 98% of the property’s value. However, certain criteria must be met to be eligible.
Maidenhead, Berkshire – 26th January 2026 – Dedicated independent mortgage experts, Mortgage Required, are delighted to have acquired fellow experienced brokerage, Y-Not Finance.
The acquisition connects two well-respected brokerages, both with a wealth of experience and shared values, to continue providing the best advice on all aspects of the mortgage market.
As part of the UK government’s plans to change the leasehold system to help families struggling with unaffordable ground rent costs.
The Prime Minister announced this morning (27 January) that ground rents will be capped at £250 per year, reverting to a peppercorn rate after 40 years.
Additional borrowing, also known as a further advance, is when you borrow more money on your existing mortgage for a specific reason agreed with your lender.
Here are five of the most common reasons for additional borrowing.
UK Housing Market Round-Up: 2025
30 Dec 2025
Property search site Zoopla has estimated that the UK housing market will end 2025 with approximately 1.15 million completed sales – 4.5% more than the previous year.
Take a look at the 2025 summary of the UK housing market.
Buying in the New Year
29 Dec 2025
If buying your first property, or moving home, is on your to-do list this year, the new year can be a great time to take this big step. In this short blog, we look at what you need to consider as you plan and prepare for your home-buying journey.
More information
Trusted by
