Mortgages and Equity Release
For most people, their home is their single biggest financial asset. A mortgage is often the largest financial commitment they will ever make.
Making your property work as hard as the rest of your financial plan
Decisions about how you borrow against your property, or how you release equity from it, can have a significant impact on your retirement, your estate, and your long-term financial security.
You might be thinking about remortgaging to restructure your finances after a major life change. A divorce settlement may mean taking on a mortgage as a sole applicant for the first time. You could be weighing whether equity release is the right way to supplement your income in later life, support a family member onto the property ladder, or fund home improvements.
Whatever has prompted the conversation, Bower Home Finance is here to help you explore your options clearly, understand the implications fully, and make a decision that fits your wider financial picture. With over twenty years of specialist experience, we have helped clients navigate every kind of property finance situation.
Part of the Bower Group: One Team, One Complete Plan
Mortgage and equity release advice at Bower is provided by Bower Home Finance, our specialist team within the Bower Group. Bower Home Finance and Bower Wealth work closely together, which means your mortgage or equity release decision is never made in isolation from the rest of your financial life.
Your retirement income, your investments, your protection, and your property are all connected. By bringing them together under one roof, we give you advice that is genuinely joined up. You do not need to explain your situation to multiple firms or worry about whether the left hand knows what the right hand is doing.
One relationship. All the expertise you need.
Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Some buy to let mortgages are not regulated by the Financial Conduct Authority.
Why Choose Bower
Tailored Support
Bespoke advice shaped around your specific goals, your circumstances, and how your property fits into your wider financial plan.
Trusted Expertise
Over 20 years of specialist knowledge as part of Bower Group, supporting clients at every stage of their property and financial journey.
Whole of Market Access
We search across the full market to find the right mortgage or equity release product for your needs, not just the products of a single lender.
Joined-Up Advice
Your Bower Home Finance adviser works alongside the wider Bower Wealth team, so your property decisions are always considered in the context of your complete financial picture.
Your Property and the Moments That Change Everything
Property decisions rarely happen in a vacuum. Most of the time, they are prompted by something bigger: a life event that has changed your circumstances, your priorities, or your plans. We have supported clients through all of the following:
Remortgaging as a sole applicant following a divorce or separation
Taking over or restructuring a mortgage after being bereaved
Releasing equity to help a child or grandchild buy their first home
Using equity release to supplement retirement income after leaving work
Funding home adaptations to support independent living in later life
Restructuring borrowing to improve cashflow ahead of retirement
Buying a first home or moving up the property ladder
Each of these situations involves different products, different risks, and different implications for your estate and your future. We take the time to understand your full picture before making any recommendation.
Mortgages
A mortgage is a loan secured against your property. The right mortgage for you depends on your income, your existing commitments, your plans for the property, and how the mortgage fits with your longer-term financial goals.
We help clients with a range of mortgage needs, including:
Restructuring Borrowing
Reviewing your existing mortgage and any other loans secured on your home to explore whether a different structure could better support your cashflow, reduce your monthly outgoings, or align better with your retirement plans.
Releasing Funds
Accessing a lump sum for home improvements, major purchases, or to support a family member, while keeping your repayments manageable and protecting the longer-term value of your estate.
Remortgaging After a Life Change
If your circumstances have changed through divorce, bereavement, or a change in employment, we can help you understand your options as a new or sole applicant and find the most suitable product available to you.
Later-Life Mortgages
Specialist mortgage products designed for borrowers in later life, including retirement interest-only mortgages, which allow you to borrow against your home while making interest payments that keep the loan balance stable.
Equity Release
If you are aged 55 or over and own your home, equity release may allow you to access money tied up in your property without needing to sell or move. It is a significant long-term financial decision and one that requires careful, specialist advice.
Equity release can provide a cash lump sum, a series of regular payments, or a combination of both. The loan, together with any interest that has rolled up, is typically repaid from the sale of your home when you move into long-term care or pass away. This will reduce the value of your estate and may affect your entitlement to means-tested state benefits.
Lifetime Mortgages
A lifetime mortgage is a loan secured against your home. You remain the owner of your property throughout. Interest is charged on the amount you borrow and, if you choose not to make regular payments, rolls up over time. The loan and accrued interest are repaid when your home is sold.
Home Reversion Plans
With a home reversion plan, you sell all or part of your home to a provider in exchange for a lump sum, a regular income, or both. You retain the right to live in your home for the rest of your life, but you no longer own all of it. When the property is eventually sold, the provider receives its share of the proceeds.
Each type of equity release product carries different features, risks, and implications for your estate, your family, and your future flexibility. Your adviser will explain how each option works, what protections are in place, and which approach is most appropriate for your circumstances.
How Equity Release Can Support Your Goals
Equity release is used by clients for many different reasons. Common uses include:
- Clearing an existing mortgage and removing monthly repayment obligations
- Boosting income in retirement to maintain a comfortable lifestyle
- Funding home improvements or adaptations
- Helping children or grandchildren with a property deposit
- Supplementing retirement income where pension provision is limited
- Funding care costs or planned expenditure in later life
- Repaying other debts to simplify finances
We help you consider whether releasing equity is genuinely the right choice for your circumstances, and how it sits alongside the rest of your financial plan. We will always explore alternatives with you, including downsizing, using savings, or traditional borrowing, before making any recommendation.
Important Things to Consider
Equity release and later-life borrowing are some of the most consequential financial decisions you can make. We help you work through the key questions before coming to any conclusion:
How will this affect the value of your estate and what you can leave to your family?
How will interest accumulate over time, and what might you owe in the future?
Are there early repayment charges if you decide to repay or move home?
How might this affect your entitlement to means-tested state benefits?
Are there other options that might be more suitable for your situation?
We believe in clear, transparent conversations. Your adviser will walk you through realistic examples and different scenarios so you can see exactly how a product might work over time and make the decision that is right for you.
How Your Property Fits the Bigger Picture
A mortgage or equity release decision does not exist in isolation. It affects your retirement income, your estate, your tax position, and your protection needs. Because Bower Home Finance sits within the Bower Group alongside Bower Wealth, your adviser can consider your property plans in the context of your complete financial life. Whether you need investment advice, retirement planning, or insurance review alongside your mortgage, everything is coordinated by the same team. One conversation. One plan.
The Mortgage and Equity Release Process
Initial Consultation
A free, no-obligation conversation where we discuss your aims, your property, your existing mortgage if you have one, and what you are hoping to achieve. We explain clearly how mortgages and equity release work and what they might mean for your specific situation.
Understanding Your Full Picture
We take a holistic view of your circumstances: your income, other financial commitments, family responsibilities, retirement plans, and how your property fits within the wider Bower financial plan if you are already a client.
Creating Your Plan
Your adviser reviews the information you have provided and researches the market on your behalf. They compare products, assess how much you may be able to borrow or release, and consider the long-term implications. They then present a clear, considered plan and walk you through it step by step, with time for questions.
Progressing Your Application
Once you are satisfied with the plan and ready to proceed, your adviser manages the application process on your behalf, liaising with the lender and any other relevant parties. They keep you informed throughout, from valuation to the release of funds.
Frequently Asked Questions About Mortgages and Equity Release
Yes, in many cases you can, though it will depend on your income, your credit history, and the amount you need to borrow. We can help you understand what is available to you as a sole applicant and guide you through the process at what is often a difficult time.
Equity release is generally available to homeowners aged 55 or over. Eligibility depends on the value of your property, any existing mortgage, and the specific product you are considering. Your adviser will assess your situation and explain what may be available to you.
Yes. Because the loan and any rolled-up interest are repaid from the sale of your home, the amount available to your estate will be reduced. Your adviser will model this clearly so you can see the likely impact before making any decision.
Many equity release products are portable, meaning you may be able to transfer them to a new property if you move. This depends on the product and the lender. Your adviser will explain the conditions that apply and what would happen in different scenarios.
The two are closely linked. Your mortgage repayments, the equity in your home, and the age at which your mortgage is repaid all have an impact on your retirement income and your financial flexibility in later life. Because Bower Home Finance works alongside Bower Wealth, we consider both together as part of a single coordinated plan.
Costs can include an advice fee, a product arrangement fee, a valuation fee, and legal fees. Your adviser will set out all costs clearly before you commit to anything, so there are no surprises.
Important to know
Equity release requires paying off any existing mortgage. Any money released, plus accrued interest, is repaid upon death or moving into long-term care. Equity release will reduce the value of your estate and your entitlement to means-tested benefits now or in the future, and may impact long-term care funding.
Equity release may involve a home reversion plan or a lifetime mortgage, which is secured against your property. All features and risks are thoroughly explained in your free personalised illustration.
Before undertaking any work on your behalf, we will always inform you in writing of the cost. You will then be free to decide whether you wish to instruct us. Our fee structure will be dependent on the complexity of your situation and the work you wish us to undertake. Initial meetings are offered at our expense and without obligation. Please ask for a copy of our Client Agreement which contains details of our typical fees.
Investment involves risk. The value of investments and the income from them can go down as well as up and you may not get back the amount originally invested. Past performance is not a guide to the future. The value of current tax benefits is subject to change.