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If you have been living in/owned a property for the last 10+ years, it is very likely that you have built up a lot of equity. The equity in your home is the difference between your property value and the amount remaining on your mortgage.
For example, if you have paid off 50% of your mortgage on a property valued at £200,000, the total equity inside of the property is £100,000. With the power of equity release, you could take some of this money back out of your home to create a lump sum of cash.
This lump sum can be spent on whatever you want. After all, it is just the money that you have previously put into the property. As a mortgage broker in Middlesbrough, we have seen people use this money to pay off unsecured debt, fund home improvements, go on holiday or purchase a new car.
Equity release is a complex subject and you should get mortgage advice in Middlesbrough before taking equity from your home.
Rather than remortgaging to release equity, if you are 55+ and have a property value above £70,000, you may be able to release equity through a lifetime mortgage.
With a lifetime mortgage, you will receive repayments without needing to move out of the property. On the other hand, you can take out a lifetime mortgage and move into long-term care or let the loan amount build up with interest.
Each person’s situation is unique, therefore, you may end up using the equity in a completely different way from someone else.
As mentioned above, you should find out more about equity release and how it works prior to remortgaging or taking out a lifetime mortgage. The main things that can affect your application are age, property value and how much equity you have inside of your property.
We would strongly recommend that you get in touch with one of our expert equity release advisors in Middlesbrough. They will be more than happy to help and take a look at your situation.
Within the process, your dedicated Later Life mortgage advisor in Middlesbrough will be there to provide you with the suitable help and support you need.
To understand the features and risks, ask for a personalised illustration. Equity Release may come in the form of a lifetime mortgage or home reversion plan. A lifetime mortgage may impact the value of your estate and it could affect your entitlement to current and future means tested benefits. The loan plus accrued interest will repayable upon death or moving into long term care.
A home reversion plan involves selling all or part of your home to a plan provider in exchange for a tax-free lump sum.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £1295.
You should always think carefully before securing a loan against your property.
A lifetime mortgage will reduce the value of your estate and may affect your entitlement to means tested benefits.
Clearing existing mortgage with a lifetime mortgage may result in higher cost of borrowing.
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As first-time buyers, we had very little knowledge of the mortgage process. We changed properties along the way, and our circumstances made the mortgage process more complex than we initially expected. Dinah and Jo were absolutely brilliant throughout. We would definitely recommend UK Moneyman to anyone looking to set up a mortgage.
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Leo and Lizzi were exceptionally helpful. Leo gave us great advise, not just on products available, but on things like bidding on properties, whether we were likely to be approved for more complicated properties etc. Lizzi was very communicative and thorough in processing our application, and after our first sale fell through we didn't hesitate to use UK Moneyman again. Thanks so much to Leo and Lizzi!
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Megan Whitlock
The team working with my profile were amazing, I was in constant communication with them, if I emailed and rang someone responded quickly and they were able to secure my mortgage within 6 weeks from my initial meeting which saved me a lot of messing around and stress. Great service thank you
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Natalie Rose
We’ve had Elaine Tiernan as our mortgage advisor and she has helped us out so much in the process of being approved with our first mortgage. From working around our working hours to arrange phone calls and online teams meetings to being prompt to respond to our enquiries. Elaine has been nothing but helpful, professional and supportive in our journey this far and we are very grateful to have had her as our mortgage advisor. Thank you to Paula aswell for always checking up on us and ensuring the process was as smooth as possible. Natalie and Liam
13 Oct 2026
Speak with a qualified later life mortgage expert about what it is you would like to achieve in later life.
During this appointment, your later life mortgage advisor will discuss your goals and inheritance plans.
Equity release and lifetime mortgages are the last options we will look at for you, as an alternative may be better suited for you.
From retirement mortgages to possible charity involvement, we will look at the most suitable options for you before you release any equity from your home.
Due to the significance of later life mortgages, we actively encourage customers to involve family or trusted parties to be a part of discussions.
We will make sure to go over all your options, plans and any further information you need to know in detail, so that you are aware of what you are agreeing to.
If equity release is not right for you, your later life mortgage advisor in Middlesbrough will refer you on to the appropriate services for your plans.
That said, if equity release is right for you, your advisor will make a tailored lifetime mortgage recommendation, factoring in any inheritance plans you have.
Follow our remortgage journey on our book online form to speak with a remortgage to release equity mortgage advisor in Middlesbrough.
They will work with you and see how much you may be able to take out of your property. They will also compare your remortgage options as you will need to take out a new mortgage after releasing equity. The advisors will make sure that you are on a deal that is suited to your personal and financial situation.
We are able to search through 1000s of deals when finding you a remortgage deal. As mentioned above, we will try and find you a deal most suited to your individual circumstances.
With our experience and knowledge in the sector, we are able to help in almost every mortgage situation. Equity release is a complex subject and we will try our hardest to get things right the first time!
Getting equity release mortgage advice in Middlesbrough is made simple with Middlesbroughmoneyman! We have been working in the industry for over 20 years now and have managed to help many customers looking to release equity from their property.
Our team are available 7 days a week; early in the morning until late at night. Book an appointment that suits your personal and working life online today.
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Middlesbroughmoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Middlesbroughmoneyman 2009–2026
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Middlesbroughmoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Middlesbroughmoneyman 2009–2026
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