How does equity release work when you die?

When you die, with equity release depending on what plan you have this is what happens:

  1. Lifetime Mortgage: The loan and interest are paid off from the sale of the property. Any remaining money goes to your beneficiaries.
  2. Home Reversion Plan: The provider gets their share from the property sale. Whatever’s left goes to your beneficiaries.

Your beneficiaries receive any leftover equity after debts and the provider’s share are settled. It’s important to discuss this with them and get advice from a financial advisor specialising in equity release.

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