Equity release

At Norwich Union, we've helped thousands of people to make the most of their retirement through equity release - and we can help you too:

• You could get a cash lump sum to help you fund the retirement you deserve
• You can continue to live in your home until you die or go into long-term care
• Equity release is a big decision, so we'll help you decide whether it's right for you and if we think it's not, we'll tell you
• Taking a lump sum, plus the costs, will reduce the value you have in your home, possibly to nothing, and therefore the value of any inheritance you leave. Your entitlement to tax and welfare benefits may also be affected.
• This is a lifetime mortgage or a home reversion plan. To understand the features and risks ask for a personalised illustration.

A happier retirement with equity release

As a homeowner, you have an asset that's worth quite a lot of money. You could unlock some of the capital that's tied up in your home and, without having to move, you can use the cash to get the most from your retirement. Minimum age and property values apply.

Compare the equity release plans that we offer

At Norwich Union, we make it easier for you to turn your retirement dreams into reality. We offer two different types of product for releasing the capital from your home, without you having to move:

Lifetime mortgage

Lifetime mortgage is a loan secured against the value of your home. You receive a cash lump sum and no repayments need to be made until the plan ends. The loan, and the interest that builds up, is repaid when the property is sold.

Because the interest builds up through the life of the mortgage and is charged on the total amount borrowed plus the interest already added, the amount you owe quickly increases and will reduce the value you have in your property, possibly to nothing.

However, our "no negative equity" guarantee means that you'll never have to pay back more than the market value of your home at the time when the plan ends.

This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.

Find out more about our lifetime mortageg

Home reversion plan

Home reversion plan enables you to sell all or part of your property to our appointed home reversion provider Grainger plc in return for a lump sum. Grainger plc will take legal ownership of the property and, when the plan ends, they will retain their share and pay any balance remaining to you or your estate.

Because you keep the right to remain in your property rent-free for the rest of your life or until you go into long-term care, the lump sum that you receive will be less than the full market value of the share of the property you sell.

This is a home reversion plan. To understand the features and risks, ask for a personalised illustration.

Find out more about our home reversion plan

What are the features?

• You receive a cash lump sum to spend on whatever you want.
• You can continue to live in your home until you die or go into long-term care.
• You can still move if you want to, as long as your new property meets the conditions.
• We'll listen to what you want from your retirement and discuss the options with you.

Is equity release right for you?

With our choice of equity release plans, we aim to offer you a solution that fits your personal circumstances. Our decision tree can help you decide whether equity release is right for you.

We recognise that equity release isn't for everyone, so we'll take the time to listen to your concerns and help you decide whether it's right for you. If we think it's not, we'll tell you.

Call us on 0800 404 6220* to book an appointment. Any advice given will relate only to the products sold or marketed by Norwich Union.

Choose a name you can trust

If you think equity release might be right for you, you're not alone. Norwich Union has 10 years' experience of equity release and has already helped thousands of people like you release over £2.8 billion worth of equity from their homes. So you can rest assured that our experienced advisers will guide you every step of the way.

Other useful information

• Compare the equity release plans that we offer
• Find the answers to some frequently asked questions
• Find out how to apply for equity release
• See whether equity release is right for your parents

Ready to talk to an adviser?

At Norwich Union, we have a team of expert advisers who can answer your questions and help you decide which plan is best suited to your own personal circumstances.

Call us on 0800 404 6220* to book an appointment and one of our advisers will visit you at home for an informal meeting at a time that suits you - with no obligation to proceed. Any advice given will relate only to the products sold or marketed by Norwich Union.

* Lines are open Monday to Friday 8am - 7pm, Saturday 9am - 1pm and Sunday 10am - 4pm. Calls may be recorded and/or monitored.

Norwich Union Equity Release Limited. Registered in England No 3286484. Registered office 2 Rougier Street York YO90 1UU. Authorised and regulated by the Financial Services Authority.

WC07049 09/2008