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Equity Release Mortgages

Tap Into Your Property Value Without Selling

If you own a property that’s fully or partially paid off, you may be eligible to unlock its built-up equity.

This financing option allows property owners to tap into the value of their real estate and use the funds for a wide range of personal or business needs whether it’s renovating your home, funding a new venture, consolidating debt, or covering major expenses.

With flexible terms and competitive rates, accessing equity can be a smart way to leverage your investment while maintaining ownership of your property.

Need funds for personal or investment needs? Unlock the equity built in your property while still living in it.

Key Features

  • No need to sell your property
  • Use funds for renovation & buying a property
  • Transparent repayment structure
Meet An Expert

FAQs

How does an equity release mortgage work?
<p><span style="font-weight: 400;">Equity release allows you to borrow money against the value of your home while continuing to live in it. There are two main types:</span></p> <ul> <li style="font-weight: 400;" aria-level="1"><b>Lifetime Mortgage</b><span style="font-weight: 400;">: You borrow a lump sum or smaller amounts over time and interest is added to the loan. Repayment usually occurs when you pass away or move into care.</span></li> <li style="font-weight: 400;" aria-level="1"><b>Home Reversion Plan</b>: You sell a percentage of your home to a provider in exchange for a lump sum or regular payments. You retain the right to live in the home until you pass away or move into care.</li> </ul>
Who is eligible for an equity release mortgage?
<p><span style="font-weight: 400;">Generally, the applicant must:</span></p> <ul> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Be at least 55 years old (the age requirement may vary by country or provider).</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Own a property that is worth a certain minimum amount (often £70,000 or more in the UK).</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Live in the property as their primary residence.</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Have no significant outstanding mortgage (or enough equity to cover the release amount).</span></li> </ul>
Do I have to make repayments during the life of the loan?
<p><span style="font-weight: 400;">In most cases, no. With a Lifetime Mortgage, interest is rolled up and added to the loan, meaning you don’t need to make monthly repayments. The loan (plus accumulated interest) is repaid when the homeowner passes away or moves into long-term care. However, if you take out a Home Reversion Plan, there are no repayments required either, as you have effectively sold a share of your home to the provider.</span></p>
Will I owe more than the value of my home with an equity release mortgage?
<p><span style="font-weight: 400;">No, most equity release schemes are designed with a no negative equity guarantee, meaning you can never owe more than the value of your home when it is sold, even if the property’s value decreases over time. However, the total amount you owe (loan plus interest) may exceed the original loan amount due to compounded interest.</span></p>
Can I move house if I have an equity release mortgage?
<p><span style="font-weight: 400;">Yes, you can move house, but you will need to transfer the equity release mortgage to your new property. The new property must meet the lender&#8217;s criteria for equity release, and you may need to repay a portion of the loan if the new home is of a lower value. If you move to a home that isn&#8217;t suitable for equity release, you may have to pay off the loan in full.</span></p>
How does an equity release mortgage affect inheritance?
<p><span style="font-weight: 400;">Equity release mortgages reduce the value of your estate, as the loan (plus interest) is repaid when the home is sold after your death or when you move into long-term care. The amount left after repaying the loan is what will be passed on to your heirs. It&#8217;s important to discuss with a financial advisor to understand how it will impact your beneficiaries.</span></p>
Can I still leave an inheritance to my family?
<p><span style="font-weight: 400;">Yes, but the inheritance may be reduced depending on how much equity you release and the interest that accumulates over time. If you are concerned about leaving an inheritance, it’s important to carefully plan the amount of equity you want to release and discuss options with an advisor.</span></p>
What happens if I want to pay off my equity release loan early?
<p><span style="font-weight: 400;">Paying off the loan early is possible but may involve early repayment charges (ERCs), depending on the terms of your contract. These charges are typically higher in the initial years of the loan and decrease over time. It’s important to review your contract or discuss early repayment with your lender before making any decisions.</span></p>
Are there risks associated with equity release mortgages?
<ul> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Yes, there are risks, including:</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">The loan (plus interest) reducing the amount of inheritance you can leave behind.</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Interest accumulation over time can substantially increase the debt.</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Potential for a reduced standard of living if the property’s value falls or if you outlive your expectations.</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Costs may be higher than anticipated due to arrangement fees and ongoing interest.</span></li> </ul>

Related Services

01. Refinance Mortgages

Refinancing allows property owners to replace their current mortgage with a new one often to secure a lower interest rate, adjust the loan term, or switch to a more suitable mortgage product.

It’s a practical way to reduce monthly payments, save on interest over time, or improve overall loan terms to better match your financial goals.

02. Islamic Home Finance

Islamic home finance is offered by Islamic banks or the Islamic windows of conventional banks, providing an alternative to traditional mortgages. These financing options are structured in a way that avoids charging interest, aligning with Islamic principles that prohibit Riba (usury). The most common structures include Murabaha (cost-plus financing) and Ijara (leasing), both designed to ensure that the financial transactions comply with Sharia law while allowing individuals to purchase houses.

03. Credit Card Services

As an ancillary service, we also arrange for our clients tailored credit card solutions from leading banks to meet their individual and business needs. Our team streamlines the application process, ensures competitive offers, and provides expert guidance to help you choose the right card—whether it’s for rewards, travel, cashback, or corporate use.

With strong banking partnerships and a client-first approach, we make access to financial flexibility simple and efficient.

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Galaxy Prime is dedicated to help you navigate the mortgage process with confidence and ease. Our team of experts provides personalized and reliable solutions tailored to your financial needs.

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