Equity Release Frequently Asked Questions

Generally speaking, you will qualify for Equity Release if you are over 55 years of age and own your property with a value of at least £50,000. For more details, please visit our Criteria section.

Any outstanding mortgage or secured loan must be repaid upon completion of the Equity Release plan. People often choose to take out Equity Release plans as a way to pay off their mortgage.

Yes, a number of Equity Release plans allow you to release equity from your property over a period of time, including Drawdown Lifetime Mortgages and Partial Home Reversion plans. For more information about the particular Equity Release plans we offer and their various features, please visit Our Plans.

This can vary between the different Equity Release plans. For more information on the various features of the plans available, please call the team free on 0800 169 723 and ask for a Personal Illustration. They will be happy to discuss your particular situation in detail and will assess which Equity Release plan, if any, may be suited to you.

SYH Charterhouse ensure that you only receive safe, secure Equity Release. We are authorised and regulated by the Financial Service Authority (FSA), and as such we are subject to a code of conduct that governs our dealings with consumers. SYH Charterhouse also offer plans that adhere to the Safe Home Income Plan (SHIP) code of conduct.

This is dependent on a number of factors, including your age, the value of your property and the amount owed on any current mortgage or other secured debt. For more information about how Equity Release might work with your particular circumstances, please contact us for a Personal Illustration.

Equity Release is generally designed for people who wish to stay in their home for the rest of their lives. If however, you find that your current property is becoming unmanageable, the opportunity to downsize to a property of lesser value is available through some of the Equity Release plans we advise on, depending upon the provider’s terms and conditions.

Equity Release plans are designed to be repaid on your death, or alternatively on your transfer to long-term care. Despite this, some plans do enable you to pay off the amount borrowed before this time, however depending on the particular provider’s criteria, an early repayment charge may be incurred for doing so.

All of our Equity Release plans provide a guaranteed lifetime tenancy – meaning you are able to stay in your home until the death or relocation to long-term care of the last surviving partner.

This can vary depending on the particular Equity Release plan, however it will usually take between 4-8 weeks from application to completion.

It is possible that your estate may be reduced and your means tested benefits affected. To understand the full features and risks of Equity Release plans we offer, please contact the team for a Personal Illustration.

We charge a flat fee of £950 for our Equity Release advice, which is only payable on completion of the Equity Release plan. You will be responsible for your own legal fees and associated costs.