How your home can give you tax free cash to enjoy your retirement

For many homeowners over the age of 55, their mortgage is either fully paid up or only has a small outstanding sum. With the rising cost of living, many householders are opting to utilise the equity from their property to help fund their retirement.

This method of releasing tax free cash from your home is called a lifetime mortgage (or equity release). In previous years equity release received  a bad name; but on the back of strict legislation and governance by the Financial Conduct Authority this has now been quashed.

The modern lifetime mortgage is only available through bona fide mortgage brokers and lenders, and there are strict guidelines as to how you can be advised on this option should you be considering it.

Local mortgage specialists Homeline Mortgages are experts in this field and within their team have specialist advisers with extensive knowledge of the current mortgage market and are therefore well equipped to provide you with accurate and up to date advice.

Oliver Bishton and Kosta Shabrov are two lead members of the Homeline Mortgages team who regularly advise clients on lifetime mortgages, and believe it is a great option to access cash to fund the things you may not otherwise be able to afford.


Oliver commented, “A lifetime mortgage is a loan secured against your home, and you can use any cash released to spend as you wish. This might be to help your children or grandchildren get on the property ladder; to fund home improvements, or simply to give you nice holidays or a new car and live your retirement without having to worry about money.”

To apply for a lifetime mortgage, you must be over the age of 55 and own a property in the UK. Lifetime mortgages are based on your individual circumstances, such as joint ownership of the property, and whether you wish to leave an inheritance in the future.

Kosta added, “A lifetime mortgage is not for everyone, but it may be right for you. Our role is to talk you through all the options and to ensure that you feel fully informed. Some lenders offer an inheritance protection guarantee which allows you to preserve a portion of your home’s value to leave to your family in the future; plus, most carry a ‘no negative equity guarantee’ which means you will never owe more than your property is worth. It really is down to personal preference, such as whether you wish to give your family a financial helping hand now, not later; or if you would significantly benefit from using cash tied up in property to help you fund and improve your retirement lifestyle.”

If you are interested in finding out more about a lifetime mortgage, Oliver and Kosta offer a free initial consultation, with any fees only payable once a mortgage arrangement is put in place, and then at an agreed standard rate.

To book an appointment call 01202 937444 or visit

A fee may be charged should you proceed with a Mortgage or Protection application.  Please ask your adviser for further details. Your home may be repossessed if you do not keep up repayments.

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