Age Partnership Ltd

The value of your home minus any outstanding mortgage can be described as your 'equity'. Equity release is the process whereby this is turned into cash, which you can then spend on whatever you like. Because the equity is yours in the first place, there is no tax to pay on the funds you receive, and there are no regular repayments to make. With a lifetime mortgage, which is the most popular form of equity release, you continue to own 100% of your home throughout.