- You will receive a tax free cash lump sum and some providers will allow you to drawdown money at a later date so you don't take it all at once if you don't need it now.
- Most schemes have no monthly repayments as the interest owed rolls up.
- You can stay in your home for as long as you choose or move home if the scheme fits.
- You will never be in negative equity so your estate will never owe any money above that of the plan.
Equity release will reduce the value of your estate and can affect the eligibility for means tested benefits.