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Can you move property

with an Equity Release deal

This depends on which style of plan you've signed up for.

Most lifetime mortgages can be transferred as long as the new property is acceptable to the lender.

But if the new property is of a lower value than your present home the lender might require you to settle some of the mortgage.

Home reversion schemes are not usually allowed to be transferred but it does depend on the property.

If you were looking to move home and your lender agreed you must expect to pay further legal and other associated Equity Release costs because new paperwork and due diligence will have to be done.

Finally, most schemes will allow you to move without restriction but first you will have to cancel the equity release deal in full which potentially could cost a large amount of money. Occasionally this might mean you would not have enough equity to buy another property.

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