Step 1: Get expert advice

To take out a lifetime mortgage, you first need to receive advice from a qualified equity release adviser who’ll look at your options and tell you if it’s right for you.

If you’re yet to find an equity release adviser, we recommend searching the Equity Release Council's database of registered equity release adviser members. All Equity Release Council members have agreed to abide by Equity Release Council rules, guidance and standards, and have signed up to the Council's Statement of Principles.

An adviser can give advice about more2life’s range of lifetime mortgages. If they don’t think equity release is right for you, they'll tell you.

Step 2: Talk to your loved ones

It's important to talk to your family about your plans. They'll be able to offer their support and ask any questions they might have. They’re also welcome to join you during your advice sessions with your adviser if you wish.

It’s also important to note that your lifetime mortgage is typically settled by your estate. So informing your family of your plans can avoid any additional and unnecessary upset or stress upon redemption.

Step 3: Complete the application

If you're still happy to proceed, your adviser will complete your equity release application on your behalf and then we'll arrange an independent valuation of your home.

Step 4: Receive an offer

Once we’ve received the valuation, we will have our team of underwriters review it and they may need to add special conditions that will have to be satisfied, we will send your solicitor an offer which confirms how much you can borrow, your solicitor will then share with you your offer. You’ll go through all this with your adviser and your solicitor will then go through the terms and implications of the plan.

Then all that’s left for you to do is sign the legal sections.


Step 5: Receive your money

Once everything's sorted, you'll get your money sent to your bank account through your solicitor.
We understand that equity release is a big decision, so we're here to support you every step of the way. However, we recommend you contact your broker to find out more.

How long will it take to get my money?

The good news is that the equity release process is usually quite quick and straightforward, however we cannot guarantee this as some cases may be more complex.

From start to finish, the process usually takes around 8 to 12 weeks. This includes the time it takes to:

  • Speak to an equity release adviser
  • Complete your application
  • Get your home valued
  • Receive an offer
  • Get independent legal advice
  • Sign the paperwork
  • Receive your tax-free cash
Of course, there are factors that can affect the time it takes to process your application. This could include the complexity of your case and the availability of your solicitor.

I have more questions

If you have any questions about the equity release process, please don't hesitate to contact a qualified, FCA-regulated equity release adviser.

Alongside the benefits of equity release, we also want you to be aware of what’s important to consider before making a decision.

1. A lifetime mortgage is a loan secured against your home and subject to compound interest, meaning the amount you owe can grow quickly
2. Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits
3. Equity release may leave you with limited or no property equity remaining
4. Equity release will reduce your financial options in the future
5. A lifetime mortgage is a long-term financial product and is not designed to be fully repaid until the death or entry into long-term care of the last remaining borrower, otherwise early repayment charges may apply