Compare equity release schemes
To help you compare the different equity release market we have produced a comparison chart that shows the key elements of all the different schemes. Bower is an independent specialist and offers advice from the whole of the equity release market. Therefore we can explain all the available equity release schemes and empower you so that you understand all your different options and then you are able to make an informed choice about the best way to proceed.
We offer you access to all the Safe Home Income Plans (SHIP) equity release plans and research the market to find you the a plan that meets all your requirements. Whether that’s the highest amount possible or the plan with the lowest fees and interest rate, we can advise you on the best plan.
Feature |
Lifetime mortgage |
Home Reversion |
Drawdown Plan |
Interest Only |
|---|---|---|---|---|
| Recieve a tax-free cash lump sum | Yes | Yes | Yes | Yes |
| Drawdown the cash in smaller amounts as and when you need it | No | Yes | Yes | No |
| Stay in your home for life | Yes | Yes | Yes | Yes |
| You own your home | Yes | No | Yes | Yes |
| Safe Home Income Plans (SHIP) protection | Yes | Yes | Yes | Yes |
| No monthly repayments to make | Yes | Yes | Yes | No |
| Option to make interest monthly payments | No | No | No | Yes |
| Move and take the plan with you (subject to lender criteria) | Yes | Yes | Yes | Yes |
| Secure a pot of money for the future | No | Yes | Yes | No |
| ‘No negative equity’ guarantee | Yes | Yes | Yes | Yes |
| The value of your estate is reduced | Yes | Yes | Yes | Yes |
| You sell a share of your home | No | Yes | No | No |
| Regulated by the FSA | Yes | Yes | Yes | Yes |
| Fixed rate of interest | Yes | No | Yes | Yes |
| Advised on by Bower Retirement Services | Yes | Yes | Yes | Yes |
| Protect a percentage of your property / Guarantee an inheritance | Yes | Yes | Yes | Yes |
| Option to repay | Yes | No | Yes | Yes |
| Entitlement to some state benefits may be affected | Yes | Yes | Yes | Yes |
| Specialist independent advice should be sought | Yes | Yes | Yes | Yes |
| £10,000 minimum inital advance | Yes | Yes | Yes | Yes |
Compare all leading equity release providers
