Criteria for equity release

  • If you want to take out Equity Release on your home then you have to meet a few conditions:

  • - To qualify for equity release you must be between the ages of 55-59

  • - The home in which you wish to release equity must be your main residence and must be lived in for 6 months a year or more.

  • - It must be owned by you

  • - You must have a minimum value of £70,000 on your property.

Regulations in the Equity Release Industry

Equity Release is a highly regulated industry and one such regulator is called SHIP. SHIP is an organisation that regulates the Equity Release market and it is supported by the leading market providers. Its main role is to safeguard the interests of homeowners and to promote safe equity release schemes.



The Ship Code of Practice Includes

  • - No negative equity; You will never owe more than the value of your property after undertaking a SHIP regulated policy.

  • - You use the solicitor of your choice for your legal work.

  • - Your provider will be regulated by the Financial Services Authority and any complaints can be referred to the Financial Ombudsman Service



Benefits you would receive from dealing with a SHIP member.

  • - The right to live in your property for the rest of your life.

  • - The ability to move house without incurring any financial charges.