Equity Release Edinburgh

At Bower Home Finance, our equity release specialists provide whole-of-market advice throughout Scotland. With over 18 years of experience, we have built a strong reputation within the financial services industry. We’re here to help you make the most of your equity release, locally in Edinburgh and across the UK. 

Making the right decision when considering equity release is crucial. That’s why we offer tailored equity release advice, ensuring you receive trusted guidance from an experienced specialist. We support you through the entire process, from your initial enquiry to completion, so you feel informed and confident at every stage. 

Book a no obligation appointment today to discuss your options and see how we can help. 

Releasing equity from your home in Edinburgh 

Equity release is often used by customers for a range of reasons, from consolidating debt, to helping their family financially, and even home improvements to make their home a bit more comfortable in later life. Our specialist equity release advisers in and around Edinburgh are here to help you release money from your home to help you move forward in retirement. 

Your local adviser in Edinburgh will guide you through the entire process, providing support and clarity at each step. From initial advice to the application and completion, ensuring you understand how equity is released from your property. 

How much equity can I release from my home in Edinburgh? 

The amount of equity stored in your home is equal to the value of your property, minus any outstanding mortgage or secured loans. 

The amount you can release from your home, however, depends on a few factors and the plans available on the market at the time. Factors including your age and health will be taken into account, as this might make you eligible for an enhanced lifetime mortgage which allows you to release more than someone who is healthier and younger.  

The value of your home will also determine how much equity you are able to release from your home in Edinburgh as equity release providers will only allow you to release up to a certain percentage of your home.  

To find out how much equity you could release from your home, try our free online equity release calculator.

What types of equity release plans are available in Edinburgh? 

There are two main types of equity release plans available in Edinburgh: lifetime mortgages and home reversion plans. The most popular type of equity release product is the lifetime mortgage. These products offer later life lending solutions for homeowners aged 55 and over who might otherwise struggle to meet the traditional lending criteria for standard mortgages and personal loans.  

Home reversion plans 

Home reversion plans allow you to sell part, or all, of your home to a provider at a discounted price in exchange for a tax-free lump sum or regular income. The provider will then reclaim the portion sold at market value through the sale of your home when you pass away or move into long-term care. With the guarantees set out by the equity release council, you’ll be able to remain rent free in your property for life. 

Lifetime mortgages 

Lifetime mortgages act as a loan secured against your home, so you can maintain ownership of your home whilst releasing some of the equity available. The funds from your lifetime mortgage are available as a tax-free lump sum, or with some plans may come in a drawdown facility that can be drawn upon at a later date.  

The interest rate is typically fixed for the lifetime of the mortgage, ensuring that the cost of borrowing remains consistent throughout the agreement. Your lifetime mortgage will often be repaid through the sale of your home when you pass away or move into long-term care, with the loan being repaid at that time. Thanks to the no negative equity guarantee from the equity release council, you or your estate will not have to repay more than the value of your property, and any remaining funds from the sale of your home are passed to your estate as directed by your will. 

Eligibility for Equity Release Edinburgh 

Each equity release product comes with it’s own set of eligibility criteria, however the main criteria includes: 

• You must be a homeowner in the UK  
• The property must be your main residence  
• You must be aged 55+ (including the youngest applicant if you are considering a joint application) 
• Your home must be valued at £70,000+  

Read more about the eligibility for equity release.  

What are the alternatives to equity release 

Before deciding on equity release, it’s wise to explore all your options to ensure you’re making the right choice for your circumstances. Some of the alternatives can include downsizing to a smaller property, taking out a personal loan, or finding alternative ways to supplement your retirement income such as getting a lodger or taking up a part time job.  

Downsizing to a smaller property can free up cash without taking out a loan, while using savings or investments may provide the funds you need without affecting the value of your estate.  

Other borrowing options, such as personal loans or credit cards, might be suitable for smaller amounts, though they may not offer the same benefits as a tax-free lump sum from equity release. 

You might also consider using your pension or other retirement savings to supplement your income. Each option has its own pros and cons, so it’s important to seek professional advice to compare the alternatives and choose the best solution for your retirement and financial goals.

Read more about the alternatives to equity release.  

The property market in Edinburgh  

Known for its historic architecture, vibrant culture, and scenic green spaces, Edinburgh offers stunning views and excellent transport links across Scotland and the rest of the UK. As of early 2024, the city reported an overall average property price of £337,080 above the UK average of £282,000 in January 2024. 

At Bower Home Finance, we’ll work closely with you, and your family, to ensure you understand the options available to you and search the whole of the market for the best plan to suit your circumstances.  

Equity release in Leith  

Located to the north of Edinburgh’s city centre, Leith is a vibrant waterfront district known for its rich maritime history, cultural diversity, and thriving food scene. If you’re looking for equity release in Leith or the wider Edinburgh area, our local adviser, Jan, is here to help you take the next steps in your equity release journey.  

Get started today by finding out how much equity you could unlock from your property with our free online equity release calculator. 

Equity release in Blackford 

With its peaceful residential streets, green open spaces, and close proximity to Edinburgh’s city centre, Blackford is a sought-after area for homeowners. If you’re considering releasing equity from your home in or around Blackford, our qualified equity release adviser is here to guide you through your options and answer any questions you may have. 

Get in touch today to learn more and see how equity release could work for you. 

Equity release in Craigentinny 

Located to the east of Edinburgh’s city centre, Craigentinny is a well-established residential area known for its green spaces and strong community feel. If you’re thinking about releasing equity from your home in or around Craigentinny, our equity release specialists are here to help. With in-depth knowledge of the local area, we offer personalised, face-to-face appointments and are ready to answer any questions you may have. 

Contact us today to learn more about your options and how equity release could work for you. 

Speak to your local equity release adviser in Edinburgh 

At Bower Home Finance, we’re here to support you every step of the way. As whole-of-market advisers, we’re completely independent, so we can find the equity release plan that truly suits your needs. 

We’ll help you explore all the options available in Edinburgh, from lifetime mortgages and home reversion plans to alternative solutions that may be better suited to your circumstances. 

Get started today by finding out how much equity you could release from your home or request a callback from one of our friendly advisers. 

Learn more about your local Edinburgh equity release adviser, Jan McLaughlan 

Based in Southwest Fife, Jan McLaughlan is a knowledgeable and approachable equity release specialist. She began her career in financial services nearly four years ago, following a 25-year background in administration across the Legal, Property, and Corporate Energy sectors. 

Having spent much of her career in Edinburgh, Jan has a strong understanding of the property landscape in Edinburgh, Fife, and the surrounding areas. In recent years, she has also extended her expertise to cover the West of Scotland. 

Jan is committed to finding the right solution for each of her clients. As a whole-of-market adviser, she works independently to ensure you receive the best possible outcome tailored to your individual needs.