Hi Nancy. Generally the minimum age for Home Reversion plans is 65, whereas with ordinary Equity Release plans it is 60. The younger you are, the less you can borrow on a Lifetime Mortgage, or the the lower the purchase price for a Home Reversion. You may be able to release over £100,000 by way of a Lifetime Mortgage at age 62, which would leave you with over £70,000 after clearing your current mortgage. Please seek advice though

Great video. Question if you take out a home reversion plan can they at a later date evict you?

I would like to ask Matthew how old do you have to be to apply for Home Reversion plan. I am 62 years old, and have a property worth £420.000. I still have a mortgage 0f £31.000 and would like to release as much as I can from this property. I am not interested in leaving any inheritance as I do not have any children. Is it the case that I can release £60% of the value of the house?. I would appreciate your comments. Thanking you in advance. Nancy Perez

Hi John I'm really sorry; Due to regulation in the UK I can't offer specific advice here. Equity Release isn't to be taken on lightly, and you are very young to do so at 59. You options will be limited because of this, and without knowing the value of your home I can't tell you how much you may be able to borrow. I suggest you seek advice from an Equity Release specialist near you. try VouchedFor dot co dot uk to find an adviser. Sorry I can't help you more, but my hands are tied. Pete