🏡 Lifetime & Equity Release Mortgages in Woking

Thinking about unlocking tax-free cash from your Woking home? Whether you want to top up retirement income, renovate, or help family onto the ladder, we’ll explain the routes available and what to weigh up. When you’re ready for personalised advice, we’ll connect you with an FCA-regulated equity release adviser.

✔ How We Help

• 📌 Set out lifetime mortgage vs. home reversion in plain English
• 💡 Explain lump sum and drawdown facilities and how interest works
• ⚖ Discuss effects on inheritance and any means-tested benefits
• 🗂 Gather property details so an adviser can assess suitability

💰 Your Options

• 🏠 Lifetime mortgage: Borrow against your home with interest that rolls up or can be serviced. Repaid when the last borrower dies or enters long-term care.
• 🏘 Home reversion: Sell a share of your property for a lump sum while retaining lifetime occupancy.

⚠ Points to Consider

• 👨‍👩‍👧 Inheritance impact: Whether to ring-fence a portion of equity
• 💰 Cost over time: Compounding interest can increase the balance
• 📊 Benefit interactions: Cash released may affect means-tested support
• 📝 Plan features: Partial repayments, ERCs, and portability vary

🎂 Typical Eligibility

• ✔ Applicants usually aged 55+
• 🏢 Property that meets lender criteria (value, construction, condition)
• 📈 Maximum release linked to age/health and property value

📍 Local Notes

In Woking — from apartments near the station to houses in Horsell and Knaphill — valuation and EPC can influence available plans and the amount released. Lenders may review lease length and service charges on flats.

❓ Lifetime & Equity Release FAQs

Can I pay some interest each month?

✔ Many plans allow optional or fixed monthly payments to control balance growth.

Can I change plan later?

✔ Refinancing or switching can be possible, subject to criteria and ERCs.

Will equity release affect my tax?

✔ Funds are tax-free, but may affect benefits. Personal tax circumstances vary — advice is important.

Can I protect a share for my heirs?

✔ Some plans include inheritance protection to reserve a percentage of equity.

What if I downsize?

✔ Downsizing protection may allow repayment without ERCs after a set period.

📌 Next Steps

Share your plans in Woking and we’ll outline your options, then connect you with an FCA-regulated adviser for a tailored recommendation.