All the ways to release equity from your home
Seven options, side by side. How fast, how old you need to be, whether you pay monthly, what it costs and who it suits. Then a page on each.
The comparison
Scroll sideways on a phone. Speeds are from the first appointment to money in the bank, assuming nobody sits on anything.
| Option | How fast | Minimum age | Monthly payments? | Typical cost | Best for |
|---|---|---|---|---|---|
| Lifetime mortgage | 4 to 8 weeks | 55 | No (optional) | Rate fixed for life, roughly 5.5% to 7%; interest rolls up | Over-55s who want cash with nothing to pay monthly |
| Further advance | 1 to 3 weeks | None | Yes | Your lender's standard rates, often the cheapest | Anyone who can afford repayments and is happy with their lender |
| Remortgage | 4 to 8 weeks | None | Yes | Best rates on the market; fees £0 to £1,500 | Anyone with income, especially if a fixed deal is ending anyway |
| Secured loan | 2 to 4 weeks | None | Yes | Higher rates than a mortgage; broker and lender fees | Keeping a cheap fixed rate, or a credit history a mortgage lender would not like |
| Retirement interest-only | 4 to 8 weeks | Usually 55 | Interest only | Ordinary mortgage rates; debt never grows | Retired people with a reliable income who want to protect the inheritance |
| Bridging loan | 5 to 14 days | None | No (rolled up) | 0.5% to 1% a month plus 2% fees; very expensive | A short gap with a certain way to repay |
| Home reversion | 8 to 12 weeks | 60 or 65 | No | You sell a share for 30% to 60% of its value | People who want a guaranteed inheritance and no interest at all |
| Downsize | 3 to 6 months | None | No | Moving costs, typically £15,000 to £25,000 | Anyone whose home is now too big anyway |
Each one in a paragraph
Lifetime mortgage
The main form of equity release. A loan against your home with no monthly payments needed; interest rolls up and it is repaid when you die or move into long-term care. Tax-free cash, you keep ownership, and you can never owe more than the home is worth.
How it works →Remortgage or further advance
Borrow more on an ordinary mortgage, from your current lender (fastest) or a new one. Cheapest option if you can afford the monthly payments and pass the affordability checks. Lenders lend to 70, 75 or later.
How it works →Secured loan (second charge)
A separate loan secured on your home behind your existing mortgage. Quicker than a remortgage and leaves a good fixed rate untouched, but dearer, and you pay it back monthly.
How it works →Retirement interest-only mortgage
Halfway house: you pay the interest every month so the debt never grows, and the loan is repaid when you die or go into care. Needs proof you can afford the payments, for life.
How it works →Bridging loan
The fastest money there is, and the most expensive. Only sensible for a short gap with a clear way to repay: a sale going through, a remortgage in progress, an inheritance due.
How it works →Home reversion plan
Sell part or all of your home to a provider for a lump sum well below market value, and live there rent-free for life. Certainty about what the family inherits, at a high price. Rare now.
How it works →Sell up or downsize
Release the lot by moving to a cheaper home. Slowest, most disruptive, but no interest and no debt. Our sister site covers it in depth.
How it works →Which is fastest?
In order: bridging (days), a further advance from your own lender (one to three weeks), a secured loan (two to four), then a lifetime mortgage, remortgage or retirement interest-only mortgage (four to eight), then home reversion (eight to twelve) and downsizing (months). Speed is rarely the only thing that matters, though. Bridging is fast because it is expensive and short; a further advance is fast because your lender already knows you. How fast can you release equity? goes through what actually takes the time.
Which is cheapest?
Anything with monthly payments: a further advance, a remortgage or a retirement interest-only mortgage, in that order. They are cheaper because you are paying the interest as you go rather than letting it roll up. If you cannot, or would rather not, pay monthly, a lifetime mortgage is the mainstream answer for the over-55s, and its cost is mostly a matter of how long it runs. What equity release costs has the worked examples.
Which keeps the most for the family?
Downsizing (no debt at all), then anything with monthly payments (the debt does not grow), then a lifetime mortgage with some interest paid, then a lifetime mortgage left to roll up, then home reversion. Lifetime mortgages can include inheritance protection, which ring-fences a share of the home whatever happens.
Which needs no income?
Lifetime mortgages, home reversion and bridging do not depend on your income. Everything else is affordability-tested, which is the catch for many retired people: the money is in the house, but the pension will not support the payments a lender wants to see.
Not sure? The two-minute questionnaire narrows it down, and the All the Options PDF puts this whole page on one printable sheet.
A note on the numbers. Rates, loan-to-value limits, fees and timescales are typical figures at the time of writing (2026) and vary between lenders and with your age, health and property. This is information, not advice. Equity release must be arranged through an FCA-authorised adviser, who will give you a personalised illustration before you commit to anything.
Ready to talk to someone who can actually do it?
We introduce you to a qualified, FCA-authorised equity release adviser who will look at every option, tell you how much you could release and how fast, and never charge you for the first conversation. No obligation.