We have outlined in our other blogs the benefits of equity release and why it can be the right decision for some people. However, everyone’s financial situations are different and we need to be upfront in saying that we don’t recommend it for every client we meet.

There are other options you might want to consider before choosing to release cash from the value of your largest asset.

Here are some of them:

Sell assets

If you don’t need a large amount of cash perhaps you could consider selling some of your other assets. This would prevent you from needing to commit to a long-term loan.


By the time many people reach retirement they find that their dependents have moved out and the house has more space than they need. In this situation moving to a smaller, cheaper house may be your best option if you need extra cash. However, you will need to take into account costs such as agents’ fees, moving costs and Stamp Duty Land Tax.


If you have a current mortgage it might be worth chatting to your lender to see what options are available to you. You may be able to apply for a Retirement Interest Only mortgage (RIO) instead of equity release. An RIO has no fixed term and can run for the rest of your life as long as you keep up with the interest payments.

Ask family or friends for help

Could you ask your family or friends for a loan? Perhaps your beneficiaries could help you out? A lifetime mortgage could reduce the inheritance your loved ones receive so this could be a good alternative to equity release.

Grants from your local authority

If you are choosing to release cash because you need to make adaptations to your home for disability reasons you may be entitled to grants from your local authority. Check with your council and there are also charities which offer grants.

State benefits

Have you checked you are receiving all of the benefits you are entitled to? This could help top up your income and avoid the need for equity release.

Rent out a room

As mentioned above, if your dependents have moved out of your home you may find you have a spare bedroom or two. Would you consider renting one of these out to earn a bit of extra income? If you think you still want to get equity release it is possible to do while also having tenants.

Continue working or go back to work

Could you change your job to perhaps earn more money, or go back to work if you’re retired? This may help with any cash-flow problems you are experiencing.

Draw money from a private pension

You will want to speak to a pensions adviser for this but is releasing money from a private pension an option? You could take it out as a lump sum or as monthly payments.

You can rest assured that Access Equity Release’s advisers will always take these alternatives into consideration and will help you find the best financial outcome for your situation.

:: Use our Equity Release Calculator to work out how much cash you could release.

It is important to take expert advice on equity release before deciding whether it is right for you.

Contact us to find out more from one of our highly trained advisors in Kent, Nottinghamshire, London and the rest of the UK.

– Equity release is not always the right choice for everyone, to understand the features and risks please ask for a personalised illustration.

– We provide initial advice for free and without obligation; only if you choose to proceed and your case completes would a fee be payable.

Access Equity Release is a trading name of Your Mortgage Decisions Ltd which is authorised and regulated by the Financial Conduct Authority FRN 459763