Lifetime Mortgages / Equity Release
If you're a homeowner aged 60 or over, equity release lets you unlock some of the tax-free cash tied up in your home, without having to sell it or move out. At HWM, our advisors guide you through every step, at your own pace.
What Is a Lifetime Mortgage?
It's also known as Equity Release, and it works differently to a standard mortgage: there are no monthly repayments required. Instead, the loan, plus interest, is repaid when your home is eventually sold, usually when you move into long-term care or pass away.
Every plan we recommend comes with this guarantee, so you'll never owe more than your home is worth.
Am I Eligible?
A Lifetime Mortgage could be right for you if:
- You're aged 60 or over (if you're releasing equity with a partner, the younger person must meet the minimum age)
- You own your own home in the Republic of Ireland
- Your home is mortgage free, or has a small remaining balance that can be cleared using some of the funds you release
Because there are no requirements to make regular repayments, you don't need a regular income to qualify. Minimum loan size is €30,000, maximum €500,000.
What About My Property?
Your home needs to be your main residence, the place you actually live day to day. Investment properties and holiday homes don't qualify. We'll also check that your property:
- Is of standard construction and in good repair
- Is located in the Republic of Ireland
- Meets minimum valuation requirements
- Isn't used for commercial purposes
How We Help You
Our advisors guide you through every step, at your own pace:
A Friendly Chat
We talk through your circumstances, answer your questions, and there's never any obligation.
A Full Financial Review
We get a clear picture of your needs and confirm whether a Lifetime Mortgage is the right fit for you.
Application and Valuation
We submit your application alongside an independent valuation of your property.
Loan Offer and Legal Advice
You'll receive a loan offer, and your solicitor will guide you through the legal side, just as with any standard mortgage.
Funds Released
Once everything's signed off, the money is released to you.
We work with Spry Finance to bring you Ireland's Lifetime Mortgage and Equity Release plans.How Much Money Can You Release?
Our equity release calculator gives an instant, indicative result based on your age, location and property value.
In the case of joint borrowers, both must be aged at least 60. The age of the younger borrower is used to determine the maximum loan value.
Your property must be worth at least €300,000 if in Dublin, or €225,000 if elsewhere.
Ready to Find Out How Much You Could Release?
Book a free, no-obligation consultation with one of our advisors and find out if a Lifetime Mortgage is right for you.
Prefer to talk it through first? Call Brian on 087 348 5193