How much will I receive?
You will not receive the full market value of your home and it may vary according to the lender. The amount will also vary according to your age and health. The older you are, the greater the amount you will receive.
You will have the right to live in the property for the rest of your life or until you move into long-term care. If you pass away or move into long-term care relatively soon, it can be an expensive way to release equity.