Equity Release

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Equity release or a Lifetime Mortgage is a way of supporting yourself later in life by unlocking tax-free cash from the value of your home, without having to move out.
The loan and interest is repaid at the end of the mortgage term using the proceeds of your house’s sale when you die or move into long-term care.

Key benefits

  • The money you receive from a lifetime mortgage loan is tax-free.
  • If you select a lifetime mortgage with a drawdown facility, you’ll be able to release extra cash to top up your retirement income on a regular basis.
  • There are no monthly interest repayments unless you choose a lifetime mortgage which allows you to make payments to keep the debt under control.
  • A no negative equity guarantee means you will never owe more than the value of your home.
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Things to think about

  • Your loved ones will receive less inheritance.
  • You will need to pay early repayment charges should you decide to exit the scheme early.
  • The products have fixed interest rates which means interest will continue to accrue on the amount you borrow.
  • Any equity release loan may impact your tax position and eligibility for means-tested benefits like pension credit.
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How we helped Mrs M

Mrs M’s daughter contacted us initially to enquire about releasing some money for her mother. Mrs M had run up a large amount of debts on credit and store cards. She had no way of repaying them and was extremely worried about the spiralling debt. Her boiler had broken down and being unable to afford to pay for it to be fixed, she’d had no heating for 3 years. Upon moving back home temporarily, Mrs M’s daughter realised how stressed and embarrassed her mother was. Mrs M was too proud to take an IVA or make herself bankrupt and said that having spent the money she felt she must repay the debt.

We managed to release £60,000 on Mrs M’s £200,000 property on a life-time fixed rate of 2.88%. This enabled her to repay the debts, fit a new boiler and kitchen. They were both delighted.

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Why choose The Finance Roome?

We talk you through the entire process and with thousands of mortgage deals at our fingertips we can find the right solution for you, whether you’re looking to release funds to pay off debts, top up your retirement pot or help a loved one buy their first home. We’re on the end of the phone when you need us and always have your best interests at heart.

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Don’t just take our word for it.

Our biggest critics are always our clients. Unbiased and unrelenting, they are the easiest way to find out what a business is really like to work with. Find out what ours are saying about us!

Sophia Hawkins-Brown
Sophia Hawkins-Brown
2022-11-10
Cannot recommend these guys enough. After meeting the lovely Sam, I talked her through the nightmare I had had securing mortgages through other brokers. Sam recommended I spoke to Ricky, who was quick, efficient and super friendly. I recieved a call from Chloe who was also lovely 12 hours later securing my mortgage at an affordable rate and for the amount I desired. The Finance Roome are amazing. Offering an efficient, friendly and successful service. Thank you all. Made my day and took all my stress away. I would give 10 stars if I could.
Sophie F
Sophie F
2022-10-26
Can't speak highly enough of the Finance Roome team, we've been with them since we purchased our first house and we've just exchanged on our next property today - and I genuinely don't think we'd have made it before the interest rate hike without them! They are so friendly when you ring, always happy to discuss any little query or concern, and always respond quickly to any communications. You really feel like a valued customer dealing with this team, I've been on the phone to them in floods of tears during this house move and they're so reassuring and kind. Shout out to Adam, Jess H, and Jess D, who I have mainly dealt with - but I can honestly say that every single person I've spoken to has been fab. Without them chasing our mortgage lender to expedite our funds request after some messing from the bottom of our chain, we'd have lost our deal and seen it triple. That's life changing. Thank you Finance Roome!
kate d
kate d
2022-10-24
The finance room have walked is through everything for both mortgages we've had so far. The service has been faultless, diligent and and easy to contact. Responds very quickly to our emails. Gave honest advice and supported us throughout, even when we ended up remortgaging through our previous provider meaning they did not get a commission.
Victor Wilson
Victor Wilson
2022-10-22
I have nothing but positive words for this company. Chloe and Harriet mainly dealt with my case and their customer service is brilliant. Aside from that, their approach towards everything is proactive, efficient and professional. I cannot fault anything from my experience and when I purchase another property I will be straight to these guys. Thank you everyone!!
Emily Poole
Emily Poole
2022-10-21
As always, The Finance Team have been amazing and helped me with my new mortgage. They are extremely knowledgeable, professional and lovely to deal with. Thank you so much!
Ross Firth
Ross Firth
2022-10-18
From the first moment we messaged Courtney we knew we were in the right hands. The finance roome helped us with the purchase of our first house, from sorting our mortgage to helping with our life insurance and home insurance. Right from the start everyone was friendly helpful and more than happy to take the time to answer any questions we had and even though we had ended up waiting 8 months for the house to finally all go through, they still persisted to chase up our solicitors weekly and check everything was still in order. We couldn’t recommend them enough!
Charlotte Slater
Charlotte Slater
2022-10-10
Adam and everyone at the Finance Roome have been wonderful. Words cannot express our thanks for his expert advice, getting us a great mortgage in the nick of time. He quite rightly hurried us to get all our paperwork in order and as such we got a mortgage just days before the massive interest rate hikes. In addition to securing us a great mortgage, Adam was always on hand to provide support and reassurance when our Solicitors were causing us many headaches. Thanks again so much to Adam and the team. We have recommended them to everyone we know who are currently going through the house buying process.
Joanne Carnie
Joanne Carnie
2022-10-08
I have just completed my Re-Mortgage with the Finance Roome and am writing this review as I cannot rate this company highly enough. This is not the first time I have used the Mortgage Roome, they arranged my mortgage for my house purchase 5 years ago and were simply outstanding then so I had no hesitation in calling them for my Re-mortgage. Once again, the level of service I have received and the advice has been second to none and I am so grateful to all of the staff (Ellen, Adam Hayter and Jess Hambling) who have provided the advice and assistance along the way. All of the staff I have spoken to have shown that they are extremely knowledgeable, professional and they really listen and understand your needs when providing advice. It is not often you get outstanding service these days so they are totally deserving of a 5 star review. Thank you so much.
Emily Golden
Emily Golden
2022-09-30
The Finance Roome helped me secure a good mortgage deal and followed it through to completion. I will be using them again next time!
Paulina Woźniak
Paulina Woźniak
2022-09-20
We had really great experience with The Finance Roome Ltd. Our Broker - Adam and his Admins were very helpful. We have had our offer within 2 weeks since we’ve applied. They’ve supported us till very end (completion). Thank you from me and James for your time! Great job everyone!

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Equity Release is a Lifetime Mortgage. To understand the features and risks please ask for a personalised illustration.

It’s important to check this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice. A Lifetime Mortgage will reduce the value of your estate, will not be suitable for everyone and may affect your entitlement to state benefits.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE Our fees and charges vary depending on the Services we provide to you. We typically charge an admin fee of up to 1% of the mortgage at the time of applying for the full mortgage application, however we will try where possible to wave our client fee (subject to the size of the mortgage). We will also be paid commission from the lender. The precise amount will depend on the complexity of the work involved and will be discussed and agreed prior to submitting the mortgage application. The Finance Roome Limited is authorised and regulated by the Financial Conduct Authority, ref 745454. Registered Office address is Hangar SE50@ Skypark, Gloucestershire Airport, Cheltenham, GL51 6SR. Registered in England and Wales. Company No. 05901651.

We normally charge a fee for Equity Release advice; however this will be dependent upon your circumstances. Our typical fee is £750