Are you eligible for an equity loan ?

Equity Loan Schemes and lenders have different criteria, but in general terms:

You need to own your own home, which needs to:

You and your partner need to be aged over 60, although some companies will consider applications if you are over 55. If leasehold, your property will need to have at least 80 years of the lease remaining.The cash you receive can be used to extend the lease. No tenants should be living with you who have rights under the Rent Act. With an equity release loan scheme there is no need to prove any income or provide information about your credit history.