If you’re exploring your later-life financial options and live in the North West, expert help is closer than you think. If you’re considering equity release in Manchester, accessing trusted, local advice can help you make the next step in your journey with a friendly face to answer your questions.
At Bower Home Finance, we offer personalised guidance and advice across the United Kingdom, including Manchester, with a strong focus on our clients and their individual needs. Our Manchester-based equity release specialists can help you understand how releasing equity from your home could support your lifestyle, family, or retirement plans, whilst ensuring you’re fully informed about the benefits, risks, and available products. We provide access to a wide range of equity release products to ensure our clients receive tailored solutions that best fit their circumstances.
Introduction to Equity Release in Manchester
Equity release in Manchester offers homeowners aged 55 and over a flexible way to unlock the wealth tied up in their property, without the need to move out or sell their home. By choosing from a range of equity release plans, such as lifetime mortgages or home reversion schemes, you can access a tax-free lump sum or set up a regular income stream to suit your needs.
Whether you’re looking to fund home improvements, pay off existing mortgages, or help family members onto the property ladder, releasing equity can provide valuable financial support in later life. It’s important to note that if you are planning to gift money, the recipient may be liable to inheritance tax so it is important to seek financial advice.
Manchester’s equity release specialists are on hand to guide you through the different types of equity release, ensuring you find a suitable product tailored to your personal circumstances and long-term goals.
Getting started with equity release in Manchester
Whether you’re just starting out in your equity release journey, or ready to proceed and secure the funds you are looking for, our local equity release advisers in Manchester are here to help. You can discuss your options and receive a no obligation consultation to explore what’s best for your needs.
Equity release allows homeowners ages 55+ to access the wealth tied up in their property, providing a tax-free lump sum or regular income in later life. There are two main types of equity release available in Manchester, lifetime mortgages and home reversion plans.
Manchester Lifetime Mortgages
Lifetime mortgages come in the form of a loan secured against your home, and it will only need to be repaid when you pass away or move into long term care, often through the sale of your home. The funds from your lifetime mortgage are often available as a tax-free lump sum, or available in a drawdown facility to access at a later date. With a drawdown facility, you have the flexibility to release smaller sums over time rather than taking a single lump sum, which can be a cost-effective way to manage interest costs, as interest is only charged on the amount you actually withdraw.
There are no obligations to make payments towards your lifetime mortgage, however some plans will allow for payments towards the interest to prevent it from accruing over time. If you wish to make payments towards your lifetime mortgage, it’s important to discuss this with your equity release adviser.
Home Reversion Plans in Manchester
Home reversion plans allow homeowners to sell part or all of their home at a discounted rate to a plan provider and in return, you will receive a tax-free lump sum, or the funds will be available as regular payments for more flexibility. You aren’t required to pay rent to the provider, so you can remain in your home rent-free until you pass away or move into long term care.
When it’s time to repay the provider, your home will be sold and the lender will then reclaim the percentage originally sold at market value, and what remains will be passed to your estate and distributed as stated by your will.
The equity release process
Once you have completed our free online equity release calculator, or requested a callback, a member of the team will be in touch to ask a few questions and make an appointment with your local equity release adviser in Manchester.
At Bower Home Finance, we now offer face-to-face appointments in the comfort of your own home, telephone appointments, or video call appointments, so you can really get to know your adviser during your appointments.
Your adviser will then visit or call you to discuss how much equity you are looking to release from your home, how you’re planning to use it, and learn more about your current circumstances in detail. It is important your equity release adviser learns about your objectives and needs in details so they can recommend the best plan to suit your lifestyle and financial situation.
Releasing equity can be used for various purposes, including paying off existing mortgages or debt, home improvements, and helping family members onto the property ladder.
We will then work behind the scenes and match you to the plan we think is the most suitable for your personal circumstances. These are often tailored to individual circumstances, ensuring the right solution for each client.
Your adviser will then present their research through a personalised illustration to show how an equity release plan would work for your specific situation and, if you choose to proceed, get started with the application and necessary paperwork.
Releasing equity from your home in Manchester
Homeowners across Greater Manchester are increasingly turning to equity release as a way to access the wealth built up in their properties, with the value of your home and a few other factors determining how much can be accessed, without having to sell or move out.
Whether it’s through a lifetime mortgage or a home reversion plan, equity release allows you to unlock tax-free funds from your home, giving you access to money for various needs such as home improvements, holidays, or helping family. The money released can be used flexibly. The cash is released either as a lump sum or in smaller drawdowns, providing options to suit your circumstances. It’s a long-term financial option that can provide greater freedom and flexibility in later life.
This approach can be especially useful for those in or approaching retirement who want to boost their income, clear other debts and existing mortgages, make home improvements, or help family financially. From the heart of Manchester to surrounding areas like Bolton, Oldham, and Trafford, our team of equity release specialists is here to offer clear, personalised advice based on your individual circumstances. With expert support, you can explore whether equity release is the right path for your future.
The property market in Greater Manchester
Popular with both residents and visitors, Manchester offers a vibrant mix of culture, history, and modern attractions. From world-class music and sporting events to thriving food scenes and iconic industrial heritage, there’s always something to explore. With excellent transport links, a growing economy, and green spaces like Heaton Park and Fletcher Moss Gardens, it’s easy to see why so many people choose to call Manchester home.
As one of the UK’s major cities, Manchester’s property market remains strong, with the average house price in 2024 reaching around £273,789, making it a more affordable alternative to London while still offering all the benefits of a dynamic, well-connected city.
Bolton equity release advice
Known for its rich industrial heritage, access to beautiful countryside, and strong community feel, Bolton is a popular choice for homeowners looking to enjoy the best of Greater Manchester living. Whether you’re planning for retirement or looking to support family financially, our equity release specialists in Bolton are here to guide you through your options. Offering whole of market, independent advice, we take the time to understand your unique circumstances and help you find the equity release solution that’s right for you.
Equity release advice in Stockport
Once a traditional mill town, Stockport has grown into a thriving part of Greater Manchester, known for its mix of historic architecture, green spaces, and vibrant local communities. Our specialist equity release advisers in Stockport are here to help you explore how equity release could support your financial goals in later life. Whether you’re looking to boost your retirement income or help loved ones, we’re here to guide you every step of the way. Get started today by speaking with a member of our friendly team.
Rochdale equity release advice
With a proud industrial past and located in the South Pennines, Rochdale is a town that blends heritage with a strong sense of community. As more homeowners in the area look to make the most of their property wealth, equity release has become an increasingly popular option. If you’re considering releasing equity from your home in Rochdale, our qualified equity release advisers are here to help. Equity release can offer valuable financial support in later life, whether it’s for home improvements, helping family, or boosting retirement income, tailored to your individual needs and circumstances.
Award-winning whole of market equity release advice
At Bower Home Finance, we’re proud to be an award-winning equity release advice company offering whole of market, independent advice about later life lending tailored to your individual needs.
As members of the Equity Release Council, we follow strict industry standards that are designed to protect customers, such as ensuring you have the right to remain in your home for life and that you’ll never owe more than your home’s value.
Being independent means, we’re not tied to any one equity release provider, or a panel of lenders, so we can search the entire market to find the most suitable product for you. This gives you greater choice, transparency, and peace of mind knowing you’re receiving trusted, unbiased advice from a company committed to putting your best interests first.
Get started with your equity release journey in Manchester today by requesting a callback from your local equity release adviser. Alternatively, find out how much equity you could release from your Manchester home with our free online equity release calculator.
At Bower Home Finance, we will understand your unique circumstances and advise you to ensure you are receiving the best plan to meet your objectives. There are plans that allow you to make voluntary repayments and move home, subject to lender criteria. However, early repayment charges may apply in certain circumstances.
Bower Home Finance provides independent, impartial whole of market equity release advice with an award-winning customer service experience. Initial advice is provided at no cost to you and without obligation. Only if you choose to proceed and your plan completes, would a typical advice and administration fee of £1,695 be payable.
Equity release requires paying off any existing mortgage. Any money released, plus accrued interest to be repaid upon death, or moving into long-term care. Equity release will reduce the value of your estate and your entitlement to means-tested benefits now or in the future, and impact long-term care funding. If you are considering equity release, we strongly recommend that you read our Equity Release page carefully and talk to one of our specialists before deciding if you wish to proceed.
To find out more about any of the products and the service we provide, please call us on freephone 0800 411 8668, request a call back, email us, or use our live chat on our website.
Please be aware that equity release may involve a home reversion plan or lifetime mortgage which is secured against your property. All features and risks are thoroughly explained in your free personalised illustration.
