Using equity release to fund a garden renovation or a dream holiday can be a smart move if done wisely. Here’s a practical guide on how it works, the pros and cons, and what to keep in mind. Get in touch with us to create a detailed plan of what you can get and how!
Equity release allows homeowners aged 55+ to unlock the value tied up in their home without having to sell or move out. The most common type is a lifetime mortgage, where you borrow against your home’s value, and the loan is repaid (with interest) when you pass away or move into long-term care.
Have you been thinking about a garden renovation with summer coming up?
You may be thinking about turning an underused space into an outdoor retreat. Maybe you want to improve accessibility or safety or boost your home’s appeal and potential value? Common Projects include landscaping and decking, outdoor kitchens or pergolas. Even installing garden offices or summer houses is an option? Call us a call and we can see how much you can access from your home!
What about taking a dream holiday this summer?
Have you been thinking of ticking off your bucket list while you’re fit and able? Or do you want to enjoy quality time with family—perhaps even treat them too? A lifetime mortgage can fund once-in-a-lifetime experiences without dipping into savings. Popular Uses include cruises or long-haul travel, multi-generational family trips or even extended stays abroad.
How to Do It – Step-by-Step
Get Independent Financial Advice
- Speak to a financial advisor who specialises in equity release.
- We’ll assess your eligibility, options, and whether it's right for your goals.
Choose a Flexible Plan
- Look for features like:
- Drawdown facility (take money in stages, not all at once)
- Repayment options (some plans allow partial interest repayments)
Estimate Costs & Borrow Responsibly
- Only borrow what you need. Interest rolls up, so smaller loans cost less over time.
- Factor in all projects or travel costs, and get multiple quotes if needed.
Use the Funds
- Once approved, the funds are paid to you as a lump sum or in tranches—ready for your garden upgrade or booking that holiday.
Here’s some important things to keep in mind:
There are no monthly repayments required (unless you choose to). You can stay in your home as long as you want. It’s tax-free cash to improve your lifestyle. However, it will impact your inheritance. Interest compounds over time, and it may affect your entitlement to means-tested benefits.
Equity release can be a powerful tool to enhance your lifestyle in later life—whether that means sipping tea in your new rose garden or sipping wine in Tuscany. The key is to use it strategically and responsibly, with expert guidance along the way.
This is a lifetime mortgage. To understand the features and risks, please ask for a personalised illustration. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice.
SPEAK TO AN ADVISER