Award-Winning Bad Credit Specialist · FCA No. 301173
Equity Release & Lifetime Mortgages Explained
Darryl Dhoffer
CeMAP · CeRER · FCA 301173 · ⭐ 53 Reviews
"I specialise in exactly this. Free assessment — no credit search, no obligation. I respond within 2 hours."
If you are 55 or over and own your home, equity release can let you access some of the value tied up in your property as tax-free cash, without having to move or make monthly repayments. Darryl explains how it works, the risks, and whether it could be right for you.
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What Is Equity Release and How Does It Work?
Quick answer — What is the difference between equity release and a lifetime mortgage? Equity release is the umbrella term for several products that let you access cash from your home's value. A lifetime mortgage is the most common type of equity release product, where you take out a loan secured against your home that does not need to be repaid until you die or move into long-term care.
Equity release is a way for homeowners typically aged 55 and over to access cash from the value of their home while continuing to live in it. The most common form is a lifetime mortgage, where you borrow against your home's value and the loan, plus accumulated interest, is normally repaid when you die or move into long-term care, usually from the sale of the property.
Equity release is a significant financial decision that reduces the value of your estate and can affect your eligibility for means-tested benefits, so it is not something to enter into lightly. Darryl will give you an honest assessment of whether equity release is genuinely the right option for your circumstances, or whether alternatives such as downsizing or a standard later-life mortgage might serve you better.
Under 55, or just want to borrow more against your home the normal way rather than a lifetime mortgage? See I have equity but bad credit — what are my options?
Darryl Dhoffer — The Mortgage Geezer
20+ years in financial services. Award-winning specialist. Featured in the Daily Express, FT Adviser, The Intermediary and Daily Mirror. I have helped hundreds of people across the UK who were told no by their bank — and I work with 65+ lenders including specialist adverse credit lenders you will not find on comparison sites.
When you contact me, you speak to me directly. No call centres. No being passed around. I personally review every case and respond within 2 hours.
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Frequently Asked Questions
What is the difference between equity release and a lifetime mortgage? ›
Equity release is the umbrella term for several products that let you access cash from your home's value. A lifetime mortgage is the most common type of equity release product, where you take out a loan secured against your home that does not need to be repaid until you die or move into long-term care.
How much equity can I release from my home? ›
The amount you can release depends primarily on your age and the value of your property, with older applicants typically able to release a higher percentage. Darryl will calculate a realistic figure for your specific circumstances based on current lender criteria.
Do I have to make monthly repayments on a lifetime mortgage? ›
No, not with a traditional lifetime mortgage — interest rolls up and is added to the loan over time. However, some newer products allow optional monthly interest payments, which can reduce how quickly the total amount owed grows. Darryl will explain which structure suits your situation.
Will equity release affect my benefits or inheritance? ›
Yes, potentially both. Releasing equity increases your savings and assets, which can affect entitlement to means-tested benefits such as Pension Credit, and it will reduce the value of your estate, meaning less may be passed on to your beneficiaries. This is a key part of the honest conversation Darryl has with every client considering equity release.
Is equity release safe? ›
UK equity release products regulated by the FCA and provided by members of the Equity Release Council come with safeguards including a no-negative-equity guarantee, meaning you will never owe more than your home is worth. Darryl only works with products that carry these protections.
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FCA No. 301173
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Lender criteria, rates and deposit requirements quoted on this page are indicative and subject to change without notice. Individual circumstances vary. This page provides general information only and does not constitute regulated financial advice. The Mortgage Geezer is a trading style of Access Financial Services Ltd who are authorised and regulated by the Financial Conduct Authority. The Financial Services Register number is 301173. Registered in England No. 04427489. Registered office address Access Financial Services Ltd, Unit 1 Furtho Court, Towcester Road, Old Stratford, Milton Keynes, MK19 6AN. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP YOUR REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER LOAN SECURED AGAINST IT.
The Mortgage Geezer · Darryl Dhoffer, CeMAP qualified since 2015 · FCA No. 301173 (Access Financial Services Ltd) · UK-wide · No upfront fees: £750 to £995 payable once your mortgage is offered · 53 Google reviews rated 5.0 · Best Broker in the Universe 2023 ·
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