Equity Release - Hertfordshire

28/01/2026

Is Equity Release Right for You? The Truth Behind the Benefits, Risks and Misconceptions

Equity Release can be a valuable financial tool for later‑life planning — but it’s also one of the most misunderstood. If you’re exploring ways to access some of the value tied up in your home, this guide will walk you through the benefits, risks, common misconceptions, and who Equity Release is — and isn’t — right for. Along the way, we’ll look at real‑life examples to make things easier to visualise.

Understanding Equity Release in Simple Terms.

Equity Release allows homeowners aged 55 and over to unlock some of the money tied up in their home, without having to move out. Think of it as turning part of your property’s value into tax‑free cash that you can use now — while still living in the place you love.

Benefits of Equity Release.

1. You remain the homeowner
You stay in your home for as long as you wish, provided it remains your main residence.
2. No monthly repayments required
Lifetime mortgages, the most common type of Equity Release, don’t require monthly payments (unless you choose to make them). Interest rolls up and is repaid when the plan ends.
3. Tax‑free funds, used your way
People use Equity Release for home improvements, helping family, clearing debt, supplementing retirement income, or simply improving quality of life.
4. Protection against negative equity
Plans approved by the Equity Release Council come with a no‑negative‑equity guarantee — ensuring you’ll never owe more than the value of your home.

Risks to Be Aware Of

1. Reduced inheritance
Because the loan plus interest is repaid from your estate, it may reduce what you leave behind.
2. Interest roll‑up can build over time
Unless you make voluntary repayments, the amount owed increases as interest accumulates.
3. Impact on means‑tested benefits
Releasing funds may affect eligibility for certain government benefits.
4. Early repayment charges
Some plans may include charges if you decide to repay the loan early.
A professional adviser will always discuss how these factors may apply to your own circumstances.

Common Misconceptions

“I’ll lose ownership of my home.”
Incorrect. With a lifetime mortgage, you remain the legal owner.
“My family will be left in debt.”
Not with an Equity Release Council‑approved plan — the no‑negative‑equity guarantee protects your loved ones.
“Equity Release is only for people struggling financially.”
Many people use it strategically: gifting to family, funding retirement experiences, or improving their home.
“I can’t move house if I take Equity Release.”
Many plans allow you to move, provided the new property meets the lender’s criteria.

Who Equity Release Is Suitable for

Equity Release may be appropriate if you are 55 or over
Own a home worth a minimum amount (usually around £70,000)
Want to enhance your retirement lifestyle
Prefer to stay in your home rather than downsize
Are comfortable knowing your estate may be reduced

Who It May NOT Be Suitable For

It might not be the best option if you want to maximise the inheritance you leave behind
Rely on certain means‑tested benefits
Plan to move frequently
Could downsize comfortably as an alternative

Real‑Life Scenarios

Supporting family
A homeowner in their early 60s used Equity Release to help their child with a house deposit, allowing them to see the benefit of their support now—not years later.

Home improvements
Another couple released funds to modernise their home, improving comfort without committing to new monthly repayments.

Boosting retirement lifestyle
A widowed homeowner accessed a modest amount to supplement their pension, giving them freedom to enjoy holidays and social activities without financial worry.

Need Advice on Equity Release? I’m Here to Help

If you’re considering Equity Release — or simply want to understand your options more clearly — please feel free to contact me. I’m always happy to offer friendly, professional guidance on any aspect of Equity Release, whether you’re exploring it for the first time or weighing up your next step.

No pressure, no jargon — just honest, helpful advice tailored to your situation.

Mark Glithero - Cerer - Your Equity Release provider
- 07774 611910 -

26/02/2024

Can I sell my house if I've taken equity release?

Today we're sharing 5 answers to frequently asked questions regarding equity release and moving home.

Learn more, here.
https://www.bowerhomefinance.co.uk/moving-house/is-it-possible-to-sell-a-home-if-i-have-equity-release/?utm_source=facebook&utm_medium=social

All Bower Home Finance equity release advice is independent and whole of market, and may involve a home reversion plan or lifetime mortgage. A typical fee of £1,495 for advice is payable on completion. Equity release will reduce your estate's value and may affect your entitlement to means-tested benefits. Equity release may result in limited or no property equity-remaining and will reduce your financial options in the future.

11/02/2024

07/02/2024

We are thankful and thrilled to have won Best Financial Adviser for +20 advisers at the 2024 Mortgage Solutions Equity Release Awards. Our Director Mark Draffan was presented with the award in London last week.

We'd like to say thank you to everyone who voted for Bower Home Finance, our peers, the sponsors, and the hosts Mortgage Solutions for a wonderful evening, and our congratulations to all the other winners.

29/01/2024

Taking out equity release is a big decision.

In this article, we explore six different topics that we hope will answer a few questions you may have.

Explore below 👇
https://www.bowerhomefinance.co.uk/retirement-planning/a-101-guide-to-later-life-planning-with-equity-release/?utm_source=facebook&utm_medium=social

All Bower Home Finance equity release advice is independent and whole of market, and may involve a home reversion plan or lifetime mortgage. A typical fee of £1,495 for advice is payable on completion. Equity release will reduce your estate's value and may affect your entitlement to means-tested benefits. Equity release may result in limited or no property equity-remaining and will reduce your financial options in the future.

09/06/2023

Clearing an existing mortgage was the top reason cited by customers for taking out equity release, making it the fifth consecutive year it has taken the top slot. Nearly half (49%) of customers said they were looking to use equity release to repay their existing mortgage, according to data from one of the big lenders in Equity Release, Canada Life.

Around a third (32%), said they would use equity release for home improvements& a fifth of customers (20%) said they would use it for day-to-day living.A lesser 16% said they would use the money to consolidate existing debt.

Canada Life said the figures suggest that the cost-of-living crisis meant equity release was being used to improve peoples financial situations.

As the ongoing cost-of-living crisis unfolds, many customers are taking stock of their finances, including the wealth tied up in their homes. The variety of motivations for releasing equity highlight the flexibility and accessibility of the options available, allowing homeowners to enjoy their retirements in a way that best suits them and their families.

However, equity release is a lifelong financial decision, so its vital people seek the help of an Equity Release specialist adviser and discuss their decision with their loved ones before taking out any product.

If you need that advice, please give me a call on 07774611910.

31/01/2023

Older homeowners borrowed £6.2billion against the value of their properties through equity release last year, up 29 per cent from 2021.

The figure means the market has more than doubled in size since 2017 when £3.06 billion was released, data from industry body the Equity Release Council reveals.

In total 93,421 customers chose to release wealth from their properties last year, up 23 per cent from the year before. The number of new equity release plans taken out rose by a fifth in 2022 to 50,000.

Equity Release Council-approved plans also guarantee borrowers the right to remain in their property for life, and have a no negative equity guarantee meaning that if the amount left after the property is sold is not enough to repay the outstanding loan, the estate will not be liable to pay any more.

In a climate where retirement incomes have to stretch further for longer, property wealth is as important to many people's financial wellbeing as their pension. If you need help, please call me on 07774 611910

13/01/2023

More than 750,000 UK homeowners are at risk of defaulting on their mortgage payments in the next two years, the Financial Conduct Authority has warned.

In a letter sent to the Treasury Select Committee on 14 December, the City watchdog said 200,000 mortgage-holders had fallen behind on their home loans by June 2022 and estimated a further 570,000 borrowers are at risk of being unable to meet their mortgage payments between now and the end of 2024, amid rising costs.
If this impacts you do n't bury your head in the sand & wait for your house to be repossessed! If you are over age 55, I have a solution for you. Please give me a call on 07774611910 if you require my free advice or assistance.

03/01/2023

Experts at the Retirement Living Standards have estimated that you’d need £10,900 a year to live a minimum lifestyle, or £20,800 a year to live a moderate lifestyle, and £33,600 to live a comfortable lifestyle in retirement. Let's face it, we all want the 'comfortable lifestyle' when we retire. So what can you do?

A Lifetime Mortgage can provide an answer. Many 65 year olds will have built up significant equity in their main residence. They are the generation who have enjoyed decades of rapid growth in property values. Retirement might be the time to tap into that equity using a Lifetime Mortgage with a drawdown facility. This allows you to set up a pre-agreed facility from which you draw small amounts (typically a minimum of £2,000) at regular intervals, or ad-hoc if you prefer. You won't pay any interest on the facility until you draw the funds down, so by taking only what you need when you need it you will keep interest to a minimum. You can allow the interest to roll up so you have no mortgage payments to make, or you can choose to pay some or all of the interest as you go along. Again this can be by regular payments or ad-hoc if you prefer.

If you would like to know more please do get in touch - 07774 611910

12/12/2022

It’s a £55 billion annual market helping thousands of customers to improve their quality of life and achieve financial aims which might have seemed beyond their reach in retirement. It enables parents and grandparents to support families with buying homes while ensuring their own homes are retirement ready.

It plays a role in wealth planning and delivers a way for thousands of people to unlock the value of the biggest asset most people own. It gives older homeowners flexibility with their finances at a time when they need it.

And yet while the later life lending market is firmly established as a fast-growing part of the financial services market there is still a surprising lack of awareness from potential customers.

Modern lifetime mortgages come with a raft of inbuilt protections such as the no negative equity guarantee as well as security of tenure, which means that you can live in your own home for the rest of your days, if you choose to do so. Finally, while ongoing repayment is encouraged and discussed in-depth as part of the advice process, equity release borrowers do not need to pass affordability criteria so those on modest budgets, who often find themselves excluded from RIOs or other later life lending products, can find suitable options to meet their individual needs and wants.

If you require my expert "no obligation" advice, please call me on 07774 611910.

Merry Christmas to all my clients.

07/12/2022

Let’s clear that one up straight away. Equity Release is simply a way to release the money – or the 'equity' – that’s built up in your home. It’s as simple as that.
You can never lose your home and you can spend the money on absolutely anything you want, such as:
• Paying for home improvements
• Helping a member of your family financially
• Making your retirement more comfortable
It’s true, there are different types of equity release plans, but these are there to help different people with different needs. The most popular is called a Lifetime Mortgage.
Myth No. 02
Equity release isn’t safe
As with any financial plan, such as a pension or a mortgage, people have concerns and questions. And that’s only natural, as all these plans deal with your money.
But every reputable equity release company, like Bower, will be members of the Equity Release Council. This is a UK-based, independent body that is committed to delivering consumer safeguards and guarantees.
The Standards Board at the Equity Release Council work to ensure that equity release products are safe and reliable. Here’s an example of the rules they implement for your safety:
• For lifetime mortgages the interest rate must be fixed (or, if variable, the rate must be capped for the life of the loan)
• You have the right to remain in your property for life or until you need to move into long-term care
• You have the right to move to another property
• Your equity release plan must have a ‘no negative equity guarantee’
• You must be provided with a fair, simple and complete presentation and explanation of your equity release plan
• The benefits and limitations of the plan must be clearly set out, together with your obligations under the terms of the contract
• You will be given information about:
o All the costs that you will have to bear in setting up the plan The tax implications
o What will happen if you wish to move to another property
o How changes in house values may affect your plan.
Bower provides independent, impartial whole of market advice – and award-winning customer service experience. Our initial advice is provided to you at no cost and without obligation. Only when you proceed and your plan completes would you need to pay a (typical) advice and administration fee of £1,495.
We know there’s lots to consider here, so to find out more about any of the products and the services we’ve mentioned, call me on 07774611910.
Merry Christmas to all our clients.

28/09/2022

As an industry, we must always strive to deliver the best advice possible. And if that means turning down a possible sale - then so be it. Equity release, although growing, is still a fringe area of the broader mortgage market and it will only ever be a good fit for a smaller number of clients than the mainstream residential market.

Ultimately, the lifetime mortgage is a specialist product - but one that has a huge and growing client base. There is no need to force it. I sincerely believe that equity release can be the lifeline that thousands of older homeowners need, but we need to ensure that it is helping the right people at the right time.

It’s unfeasible to expect that every customer will leave their initial meeting as clued up as their adviser, but this needs to be the target. We must be confident in our products and the wider offering and rely on spreading knowledge and understanding as our primary sales tool.

Overall, I am certain that most advisers in the equity release industry do an exemplary job - but every one of us needs to be learning and improving all the time. The next crop of retirees will be very different to what many of us think of as ‘old’. The teenagers of the punk era will be drawing their pensions very soon, remember. So we, as advisers and experts, need to be fine tuning our skills every single day. But it is clear to me that everyone who is committed to this industry is serious about customer satisfaction and empowering customers through knowledge and choice and in fact customer satisfaction rates have, historically, been reported to be very high.