As Keith says, it can be helpful to look at a number of different product options. In our view it’s a complex area so it can be advisable to seek advice from a qualified financial advisor who can make a specific product recommendation based on your individual circumstances. You can search for one on either VouchedFor or Unbiased.
If you do decide you want to find out more, it’s crucial to ensure that any advisor or product provider that you go with is a member of the Equity Release Council (ERC) who stipulate a number of product standards which help safeguard borrowers. You can search for an equity release provider that belongs to the ERC here.
I hope this information is helpful and apologies we cannot provide advice ourselves.
It can be good but do lots of research. I almost did one. No payments now but they sell the property etc when I die but the amount to pay back too high. Speak to and compare different lenders. Try a mortgage broker or two for options. Is a loan better? It will depend how you want to use it too. I think there is government advice booklet- search online or .Gov.uk