Beginners' guide to pensions and retirement

Equity release schemes.

For home owners, equity release could allow you to unlock some of the value in your home.

Since you’re borrowing against equity tied up in your home, the lump sum or income you receive is tax-free. The loan will also reduce your inheritance tax (IHT) liability, as the value of your estate will be less.

It’s recommended that you talk to a financial adviser if you want more information on these types of products. If you are receiving state benefits, and these are mean tested, these could be impacted so make sure you check this out.

Before signing up to an equity release scheme you should also discuss your options with your family and solicitor.