Weighing Up Your Options
Is Equity Release Right for You?
Equity release is not right for everyone, and finding out honestly whether it suits your circumstances is exactly what we are here for. Our Chorley-based advisers work without pressure or targets as part of our full equity release advice service — so you can explore your options and make a decision you are genuinely comfortable with.
Proud Member of the Equity Release Council
As members, every lifetime mortgage plan we recommend includes the No Negative Equity Guarantee and the Right to Remain in your home for life. Both protections are built into every ERC-approved plan as part of the Council's Code of Conduct.
What Can Equity Release Be Used For?
It’s about freedom. Access the wealth tied up in your home without moving to fund your retirement goals.
For many people it is a way to improve day-to-day finances in later life; whether that means supplementing your retirement income, clearing an existing mortgage, or covering rising household costs.
Others use it to fund one-off expenses like home improvements, a new car, or long-overdue travel plans. It can also be a way to help loved ones while you are still here to see the difference, such as gifting a deposit to children or grandchildren who are looking to get on the property ladder. We advise on first time buyer mortgages as well as equity release, and can help with both sides of that arrangement if needed.
However you choose to use the money, equity release is a flexible financial tool that should always be considered with your long-term plans in mind.
Home Improvements
Boosting Income
Travel & Leisure
Gifting to Family
Equity Release Eligibility Criteria
The basic criteria you need to meet to qualify for most equity release plans. We work with homeowners across Preston, Southport, Manchester and throughout the North West who meet these requirements:
Homeowner
You must own a property in the UK that is your main residence.
Age 55+
You must be at least 55 years old. For joint applications the youngest applicant must be 55.
Value £70k+
Your property typically needs to be worth at least £70,000.
Every case is assessed individually. Even if you are not sure you meet all requirements it is worth speaking to an adviser.
Are There Alternatives to Equity Release?
Equity release is not the only option available to homeowners in later life. Some people choose to downsize to a smaller property, which can release capital without taking on any debt — if you are considering this, our home mover mortgage advice covers the mortgage side of moving. Others may find that a remortgage is a more suitable route. We always consider the full range of alternatives before making a recommendation. Our guide to alternatives to equity release covers the options in detail.
Downsizing
Some people choose to downsize to a smaller or more affordable property, which can release capital without taking on any debt.
Savings & Assets
Depending on your goals, using existing savings investments or even local authority grants might also be worth exploring.
Family Support
Others may be able to get financial support from family, whether as a gift or a private arrangement.
Impact of Equity Release on Inheritance
Effect on Your Estate
The loan is repaid from the sale of your home, usually after you pass away. This reduces what is left for your loved ones. However, plans with Inheritance Protection let you ring-fence a portion of value to guarantee a legacy.
Talking to Family
It is a big decision, so we actively encourage family involvement. Sharing your plans openly helps avoid misunderstandings. You are warmly welcome to bring relatives to appointments.
Why Independent Equity Release Advice Matters
Equity release can be a valuable financial tool, but it is not right for everyone. The best way to find out if it suits your needs is to speak with a qualified adviser who takes the time to listen and understand your individual goals.
Still weighing it up? Our guides to whether equity release is a good idea and alternatives to equity release may help you think it through before speaking to us. When you are ready, get in touch for a no-obligation conversation.
Why Choose Aspect Mortgages?
Independent and FCA regulated. We work for you, not for the lender
Proud member of the Equity Release Council, giving you the No Negative Equity Guarantee and the right to remain in your home for life
Whole of market access. We search all leading equity release lenders to find the right plan for you
Family run since 2004 with over 100 years of combined team experience
No pressure, no rush. Complex decisions explained clearly, at a pace that suits you
Family involvement welcome. We actively encourage family members to be part of the conversation
Rated 5 stars across 460+ Google reviews. One of the most reviewed brokers in the North West
Fixed, transparent fee. One flat fee, no surprises
What Our Clients Say
We're rated 5 stars across hundreds of Google reviews - here's what some of our clients have said about working with us.
Find out what equity release could do for you.
We can meet at our Chorley office, at your home, or by video call, whichever suits you best. Call us on 01257 812345 or drop us a message and we'll get back to you.
Areas We Cover
Remote advice offered nationwide.
There will be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate that it will be £495 for a residential/buy to let mortgage or £1495 for an equity release/retirement mortgage.
Aspect Mortgages Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (https://register.fca.org.uk/s/) under FCA reference 305352. The FCA do not regulate Business Buy to Let Mortgages.
As independent advisers we have access to the whole market, except for deals that you can only obtain by going direct to a lender. Registered in England and Wales No: 051013801. 16 St Thomas' Road, Chorley, PR7 1HR.
A Lifetime Mortgage may reduce the value of your estate and could affect your entitlement to benefits. To understand the features and risks please ask us for a personalised illustration.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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