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Clearing up common myths about equity release

Clearing up common myths about equity release

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Age Partnership+ in partnership with Radio Times

Published: June 3, 2026 at 3:48 PM

AN ADVERTORIAL BROUGHT TO YOU BY AGE PARTNERSHIP+

We understand that considering equity release can be a big decision, and if you’ve recently been doing your research, you’ll know there’s a lot of information out there.

Equity release is an option for homeowners aged 55+ to access tax‑free cash from the value of their home. But many people still hold inaccurate beliefs about how it works.

To help you make an informed choice about whether it’s right for you, we are here to clear up some common myths and provide the facts.

Myth #1: “I’ll lose my home with equity release.”

Fact: With a lifetime mortgage, the most popular type of equity release, you continue to own 100% of your home. The loan, plus any accrued interest, is repaid when you pass away or move into long-term care.

Myth #2: “Only the wealthy will benefit.”

Fact: Equity release is available to homeowners aged 55+ regardless of their wealth. It's about accessing the equity you’ve built in your home, and for many, it can be a helpful way to supplement retirement income or fund other important life events.

Calculate how much you may be able to release >>

Myth #3: “The interest will build up so fast, I’ll never be able to pay it back.”

Fact: Any unpaid interest is added to the loan each year, which means the amount owed can increase over time. However, there are plans that may allow you to make voluntary payments, subject to certain limits to reduce the roll-up of interest. Early repayment charges may apply above a set value.

Myth #4: “There will be no inheritance for my loved ones.”

Fact: Equity release will impact the inheritance you leave behind, but with careful planning, it can still allow you to pass on an inheritance to your loved ones. This will reduce the amount you can release and it’s important to discuss this with an adviser, so you understand how equity release affects your estate.

Find out more with your free equity release guide >>

Things to consider

You need to be aware that equity release may involve a lifetime mortgage, secured against your property, or a home reversion plan. Age Partnership+ advise on lifetime mortgages only. It will reduce the value of your estate and impact funding long-term care.

Equity release requires repaying any existing mortgage. Money released, plus accrued interest, would need to be repaid upon death or moving into long-term care.

Advice is required to proceed with equity release and there may be other options which better suit your circumstances. Only if your case completes would an advice fee of £1,995 be payable. Other lender and solicitor fees may apply.

Use our online calculator >>

The Radio Times equity release service is provided by Age Partnership Limited. Radio Times is a trading name of Immediate Media Company London Limited which is an Introducer Appointed Representative of Age Partnership Limited, 2200 Century Way, Thorpe Park, Leeds LS15 8ZB. Company registered in England and Wales No. 5265969. VAT registration number 162 9355 92. Age Partnership Limited is authorised and regulated by the Financial Conduct Authority. FCA registered number 425432 and is trading as Age Partnership Plus.