Trusted equity release specialists in Lancashire, UK

Are you looking for the best and most flexible equity release plans on the market? Then talk to the experts at Access Equity Release. Working for clients throughout Blackpool, Blackburn, Preston, or the wider parts of Lancashire, our equity release advisers have access to the whole of the equity release market, so we can search across hundreds of equity release mortgages to find the right plan to suit you.

If you are thinking about Lifetime Mortgages and equity release then you are looking to release money from an asset that has taken a whole lifetime to achieve. This always deserves the highest level of attention and care.

We are equity release experts who have won industry awards in our sector. As proud members of the Equity Release Council, we uphold their strict code of conduct. This includes only suggesting plans that have a no negative equity guarantee, meaning you will never owe more than the value of your home.

Equity release enables homeowners to raise money from their homes. There are different methods of equity release and generally, they are available to people over the age of 55. Schemes include Lifetime Mortgages and Home Reversion Schemes but the most popular type is a Lifetime Mortgage.

With a Lifetime Mortgage, you take out a loan secured on your property and receive that amount as a tax-free lump sum. You do not usually need to make monthly repayments unless you wish to do so. Instead, the interest ‘rolls up’ and the loan plus interest is repaid after your death or when you move into long-term care when the property is sold.

Equity release offers great benefits to many homeowners and we all want to enjoy our retirements but it requires a lot of discussions. We ensure that you have all the right knowledge and understand that it takes time to make the decision, so you will never be pushed into making one. Our advisors encourage the family to be involved and can come and meet with you at your property and will spend as much time as you need, answering any questions you may have about the process.

Our equity release brokers are FCA-regulated. Please call now on 0333 000 2097.

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Why releasing equity from your Lancashire home?

Equity release has become increasingly popular for homeowners in Lancashire, so they can fund their dreams during their retirement years. With growing house prices, people have more equity than ever tied up in bricks and mortar.

Crossing 3000 square kilometres in the North West, Lancashire has long been a popular county, known for its beautiful landscape and pretty towns. From Blackpool Tower to the rugged hills, there is something for everyone. According to surveys, some of the happiest places in the country to live are in Lancashire and include Fylde, Pendle, Wyre, and Ribble Valley.

In 2020, Rightmove stated that the average property price was over £191,000. The majority of property sales involved terraced homes that sold for an average of just over £120,000. Semi-detached homes sold for an average of £245,000 and terraced homes for an average of £179,000 and detached houses fetched £319,000. In 2020, prices had grown by 9 per cent on 2019 and 12 per cent on 2018.

Use our equity release calculator to find out how much equity you could release.

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Blackpool Lifetime Mortgages: We can advise on all later life mortgage lenders

There are various types of Lifetime Mortgage. As their name suggests, these financial products are designed to run for the rest of your life until you pass away or move into long-term care. This is the point at which any capital borrowed and interest accrued will need to be repaid.

Since they were first introduced, many different types of Lifetime Mortgages have become available and some include a range of additional features, which can be designed to meet your requirements. For example, some Lifetime Mortgages can ringfence some of your inheritance.

Instead of receiving the money in a lump sum, Drawdown Lifetime Mortgages allow you to access the money in an initial lump sum then take money from your home as and when you like, so that you can ‘draw’ on the money. With these types of plans, you only pay interest on the money you have taken so these plans can often work out to be more cost-effective as the interest grows at a slower pace.

Some plans also allow you to pay some, or all, of the monthly interest and this could reduce the overall cost of the loan. For more explanations, see our short explainer videos.

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    Retirement mortgages and over 55 home loans in Lancashire: Why opt for equity release

    As equity release and retirement mortgages in Lancashire grow in popularity, many more people are asking why they should consider equity release.

    • Pay off mortgage: Some people choose to pay off an existing mortgage or debts, freeing themselves from the burden of monthly repayments and boosting their retirement income. Read our blog: Can I release equity to pay off debt?
    • Property improvements: Many homeowners choose to unlock their property cash to make improvements to their home, which will not only improve their quality of life but will boost their property’s value.
    • More disposable cash: Some people choose to use the money to just boost their disposable income, so they can enjoy a more comfortable retirement.
    • Gifting family: Others choose to pass on money as a gift to their children or grandchildren. Money is often used for house deposits, to help with student debt, or to pay for events such as weddings.
    • Funding holidays and large purchases: Finally many people use the cash to fund holidays or large purchases, such as cruises, safaris, or a new car.