Releasing equity in your home
If your home is worth more than the borrowing secured against it, you may be able to release some of that equity for home improvements or other plans. Our friendly specialists help homeowners across the UK understand the routes, costs and risks before deciding.
What does releasing equity mean?
Equity is the difference between your property’s value and the borrowing secured against it. Releasing equity usually means borrowing more against your home through a remortgage, a further advance from your existing lender, or a second charge mortgage. Having equity does not guarantee you can borrow—lenders also assess your income, outgoings, credit history and the property itself.
Remortgaging to release equity
A remortgage replaces your current mortgage with a new, larger one, releasing the difference as funds. This may suit you if your current deal is ending or has no early repayment charge. Compare the full cost of leaving your existing deal, product fees and the total interest over the new term—not just the headline rate.
Further advances and second charges
A further advance is extra borrowing from your existing lender, while a second charge mortgage is a separate secured loan from another lender. Both keep your current mortgage in place, which can help if leaving it would be expensive, but they add repayment commitments and may cost more overall.
What could the funds be used for?
Home improvements, helping family members and other planned expenses may be acceptable, depending on the lender. If your aim is to repay existing debts, read our debt consolidation guidance first—securing previously unsecured debts against your home puts your property at risk and can increase the total you repay.
Is this the same as later-life equity release?
No. Releasing equity through a standard mortgage means regular repayments assessed on affordability. Lifetime mortgages and home reversion plans—often called equity release—are different later-life products with their own advice requirements. This guide covers standard mortgage borrowing and second charges only.
How we can help
We review your current mortgage, property value, income, outgoings and plans, then explain suitable options, fees, risks and total repayment costs before you decide. An initial consultation is no obligation, and no lender approval is guaranteed.
Common questions
How much equity can I release from my home?
It depends on your property’s value, outstanding mortgage balance, lender loan-to-value limits and your affordability. An adviser can help assess the possibilities; there is no guaranteed amount.
Will releasing equity increase my monthly payments?
Usually yes—additional borrowing increases your repayment commitment or extends how long you repay. Even if a new deal lowers the monthly amount, a longer term may increase the total interest paid.
Can I release equity with an adverse credit history?
Missed payments, defaults, CCJs or arrears affect which lenders and rates are open to you rather than ruling you out entirely. Specialist lenders may consider your circumstances, though rates may be higher and approval cannot be guaranteed.
Is releasing equity a good idea?
It depends on your plans, the costs and the alternatives. Borrowing against your home puts it at risk if you do not keep up repayments, so compare the total cost of every option—including unsecured borrowing—before deciding.
Free independent guidance: MoneyHelper. If repayments are becoming difficult, StepChange Debt Charity offers free debt support.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Securing previously unsecured debts against your home puts your property at risk. A longer repayment term may increase the total amount you repay.
Mortgage availability and suitability depend on your individual circumstances. An initial consultation is no obligation; any applicable charges should be explained before you proceed.
Related guidance: raising funds, remortgages, second charge mortgages and our guide to remortgaging versus a personal loan.
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