Equity release is a way to unlock money tied up in your home with a loan
- When you sell the property, the lender takes back the amount you owe from the sale and the loan is paid off
- Home equity loans are only available to homeowners over the age of 55, and the amount you can borrow depends on your age
- This type of loan can be expensive, and the amount you get in cash can be a lot less than the amount of interest you have to pay back.
