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Equity release calculatorYour figure from your age and property value.

Loan to value by age, 55 to 80Every single year, from the July 2026 schedule.

Lump sum or drawdownTake it all now, or take it as you need it.

Getting more than the maximumWhen an enhanced or ill-health plan applies.

How we check our figuresThe standard every page here is held to, and every correction we have made.

Before you decide

What decides whether it is possibleYour age, your property, and what is never assessed.

What it actually costsThe lowest rate we can verify, and what moves it.

The property features that raise a questionKnotweed, annexes, short leases and the rest.

Japanese knotweedWhat a valuer assesses, and why the seven-metre rule went.

Spray foam insulationWhere you stand, and the inspection protocol that exists.

Today’s figures

[6.20%]lowest rate we can verify, fixed for life

43.5%most you could release at 70

Open the calculator Sources: [lender rate sheets], LTV schedule July 2026, supplied by the adviser. Checked 5 September 2026.

Rates Eligibility Guides Updates

Glossary

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Everything is on one page, so your browser’s own find works across the lot.

Words people are handed

Lifetime mortgage in the glossaryThe product most people mean by equity release.

No-negative-equity guarantee in the glossaryWhy no debt can pass to your family.

Loan-to-value in the glossaryThe percentage that decides how much you could release.

Drawdown in the glossaryTaking it in stages instead of all at once.

Early repayment charge in the glossaryWhat it can cost to repay a plan early.

Compound interest in the glossaryInterest charged on interest, and why it matters here.

Home reversion plan in the glossaryThe other kind: selling a share rather than borrowing.

Key Facts Illustration in the glossaryThe document an adviser must give you.

The whole vocabulary

289 terms, explained in ordinary words

One page rather than 289 thin ones, so you can look up two words in the same sentence without going anywhere.

Open the glossary The Plain English Library →

Speak to an adviser

Plain English

Equity release, word by word

Equity release can involve unfamiliar financial, legal and property terms. This glossary explains how those words are commonly used in the UK. It is general information, not a recommendation or a substitute for the documents and advice you receive for your own circumstances.

289 terms, from the letter that arrives in the post to the wording in a solicitor’s file. Every one links straight to itself, so you can send somebody the exact term you meant.

Equity release may involve a lifetime mortgage, secured against your property, or a home reversion plan. It will reduce the value of your estate and impact funding long-term care.

How this page is kept

Written by: Equity Release Facts editorial
Last checked: 6 September 2026
Next review: 6 March 2027

A

Accrued interest #: Interest that has built up on a loan balance but has not been paid. On a roll-up lifetime mortgage it may be added to the debt under the product terms. Read the full guide: How rolled-up interest works, with the arithmetic → Accrued interest on its own page →
Ad hoc payment #: A one-off payment rather than a regular scheduled payment. Whether it can be made without an early repayment charge depends on the plan’s terms. Ad hoc payment on its own page →
Adaptation #: A change to a home that can make it safer or easier for a disabled person to use, such as a ramp, stairlift or level-access shower. It is distinct from a provider’s property assessment. Source: GOV.UK Adaptation on its own page →
Administrator #: A person authorised to deal with an estate where there is no executor able to act. Their legal authority and responsibilities are distinct from an attorney’s role. Administrator on its own page →
Advance #: Money paid out under a loan or facility. An initial advance and a later drawdown are not necessarily treated in the same way under a product. Advance on its own page →
Advice fee #: A charge an adviser may make for advice and arranging a plan. Ask how it is calculated, when it is due and whether it can be added to the borrowing. Source: MoneyHelper Read the full guide: Equity release fees, beyond the interest rate → Advice fee on its own page →
Advice meeting #: A conversation in which an adviser gathers information about a customer’s circumstances, objectives, alternatives and concerns. It is not simply a product demonstration; the personal recommendation process needs the right facts. Advice meeting on its own page →
Adviser #: A suitably qualified and authorised professional who considers your circumstances and makes a personal recommendation where advice is required. Check the firm and individual details on the FCA Register. Source: Equity Release Council and Financial Conduct Authority Read the full guide: What equity release is, in plain English → Adviser on its own page →
Age criterion #: A provider’s minimum or maximum age rule for an applicant. The relevant age can be the youngest applicant’s age, but the exact rule depends on the product. Read the full guide: Equity release eligibility → Age criterion on its own page →
Age of the youngest applicant #: On a joint application, providers often use the younger person’s age when assessing the maximum available loan-to-value. It is a product rule, not a promise of an amount. Age of the youngest applicant on its own page →
Agricultural tie #: A planning condition restricting who may occupy a property, often connected with agricultural work. It can affect saleability, title and provider treatment. Source: Provider criteria, dated example only Read the full guide: Equity release with an agricultural tie or land → Agricultural tie on its own page →
Annexe #: A separate or partly separate living area attached to or within a property. Its kitchen, access, utilities, use, title and occupiers may all matter to a valuer or provider. It does not produce one universal outcome. Source: Provider criteria, dated example only Read the full guide: Equity release on a property with an annexe → Annexe on its own page →
Annual equivalent rate (AER) #: A standard way of showing an interest rate over a year, including the effect of compounding. It can help compare rates, but it does not show every cost or feature of a plan. Source: Equity Release Council Read the full guide: How rolled-up interest works, with the arithmetic → Annual equivalent rate (AER) on its own page →
Annual percentage rate (APR) #: A standardised annual cost measure used for credit comparisons. On a UK mortgage the figure you are shown is usually the APRC, so ask which of the two it is and what charges and assumptions sit behind it. Read it with the personalised illustration and the full list of fees rather than using it alone. Source: Financial Conduct Authority Read the full guide: How rolled-up interest works, with the arithmetic → Annual percentage rate (APR) on its own page →
Annual percentage rate of charge (APRC) #: A percentage meant to show the annual cost of a mortgage over its lifetime, including the charges rather than the interest rate alone. The FCA describes it as incorporating all relevant charges that relate to the mortgage borrowing. It is a comparison measure: it is not a personalised quote, and it is not the amount that will be owed on any future date. Source: Financial Conduct Authority Read the full guide: Equity release fees, beyond the interest rate → Annual percentage rate of charge (APRC) on its own page →
Annual statement #: A regular statement showing information about a mortgage or plan, such as the outstanding balance and transactions. Check the actual statement and ask the provider about anything unclear. Annual statement on its own page →
Applicant #: A person applying for a product. Joint applicants usually need to be considered together because the home, loan and rights of occupation affect both people. Applicant on its own page →
Application #: The formal request for a provider to consider a plan. It can involve advice, identity and property checks, valuation, legal work and underwriting. Starting an application does not mean an offer will follow. Application on its own page →
Appointed representative (AR) #: A business that carries on regulated activity under the responsibility of a principal firm. Check the FCA Register to understand the firm’s status and permissions. Source: Financial Conduct Authority Appointed representative (AR) on its own page →
Arrangement fee #: A provider charge for setting up a mortgage or plan, if the product has one. It may be paid separately or added to borrowing, which can affect later interest. Source: MoneyHelper Read the full guide: Equity release fees, beyond the interest rate → Arrangement fee on its own page →
Arrears #: Money that is overdue under an agreement. The consequences depend on the type of payment and contract; seek support promptly if a required payment may be missed. Arrears on its own page →
Asbestos #: A material found in some older buildings that can require specialist assessment or management. Its presence, condition and any survey findings may be relevant to valuation and works. Asbestos on its own page →
Assessment #: A review of information for a stated purpose, such as advice, valuation, underwriting or care support. An online content page cannot complete a personal assessment. Assessment on its own page →
Attorney #: Someone legally appointed under a valid power of attorney to make certain decisions for another person. An attorney’s authority and the product process need checking with the adviser and solicitor. Source: Equity Release Council Attorney on its own page →
Authorised firm #: A firm with FCA permission to carry on specified regulated activities. Check that its permissions cover the service being offered; authorisation is not an endorsement or guarantee. Source: Financial Conduct Authority Read the full guide: How to check the person you are talking to → Authorised firm on its own page →
Available equity #: The part of a home’s value that remains after secured borrowing and relevant charges. It is not necessarily the amount that can be released. Read the full guide: What equity release is, in plain English → Available equity on its own page →

B

Beneficial interest #: The right to benefit from a property, for example by living in it or receiving a share of sale proceeds. It can differ from the legal ownership shown on the Land Registry. Source: GOV.UK Beneficial interest on its own page →
Beneficiary #: A person or organisation named in a will or otherwise entitled to receive part of an estate. Equity release can reduce what is left after the loan and costs are repaid. Read the full guide: Equity release and what you leave behind → Beneficiary on its own page →
Benefits, means-tested #: Benefits or reductions that can depend on income, savings or capital. Receiving released cash can affect entitlement, so obtain a benefits check before deciding. Source: MoneyHelper Read the full guide: Equity release and means-tested benefits → Benefits, means-tested on its own page →
Borrower #: The person or people who take a loan and grant security over a property. In a lifetime mortgage, the borrower normally remains the homeowner. Borrower on its own page →
Borrowing limit #: The maximum a provider might lend under its current product rules. It depends on more than a calculator input, including age, property, existing debt, product terms and underwriting. Borrowing limit on its own page →
Broker #: An intermediary who can advise on or arrange mortgage products. Ask what market they can consider, how they are paid and whether they are authorised for the service they provide. Broker on its own page →
Building control body #: The organisation responsible for assessing whether building work meets building-regulations requirements. It is distinct from the planning authority. Source: GOV.UK Building control body on its own page →
Building regulations #: Legal standards that may apply to building work. Evidence of compliance can matter to a valuer, solicitor or provider when property alterations are relevant. Building regulations on its own page →
Buildings insurance #: Insurance covering the structure of a property against defined risks. Mortgage conditions commonly require suitable cover to remain in place; check the particular contract. Buildings insurance on its own page →
Buildings survey #: A detailed report about a home’s condition, normally commissioned for the buyer’s own information. It is different from a lender’s valuation and may identify matters requiring further advice. Read the full guide: What lenders and valuers assess about a property → Buildings survey on its own page →

C

Capacity #: The ability to understand, retain and use relevant information to make a particular decision. If there is a concern about capacity, the legal position and the appropriate support need specialist advice. Capacity on its own page →
Capital #: The original amount borrowed, excluding interest and charges that may be added later. A capital repayment reduces the amount on which future interest may be charged. Capital on its own page →
Capital repayment #: A payment that reduces the original loan balance. Whether it is allowed, how much can be paid and whether a charge applies depend on the plan. Read the full guide: Early repayment charges on equity release → Capital repayment on its own page →
Capitalised interest #: Interest added to the loan balance rather than paid when it is charged. Future interest may then be calculated on the larger balance. Read the full guide: How rolled-up interest works, with the arithmetic → Capitalised interest on its own page →
Capped interest rate #: A rate that cannot rise above a stated limit under the product terms. Check what is capped, for how long and whether different withdrawals can have different terms. Read the full guide: How rolled-up interest works, with the arithmetic → Capped interest rate on its own page →
Care, long-term #: Ongoing care that may arise later in life. Product terms define what counts as a permanent move into long-term care, so read them closely and consider future care funding separately. Source: Equity Release Council and MoneyHelper Care, long-term on its own page →
Cashback #: A cash amount offered as a product feature on some plans. It is not free money in isolation: compare the rate, fees, conditions and total cost. Cashback on its own page →
Certificate of title #: A document or confirmation from a solicitor about legal title matters for a transaction. The exact form and purpose depend on the solicitor, lender and property. Certificate of title on its own page →
Charge #: A legal interest registered against a property to secure a debt. A lifetime mortgage normally creates a first legal charge or must rank as required by the provider. Charge on its own page →
Cladding #: Material fixed to the outside of a building. Safety evidence, building height, remediation and lender policy can be relevant, especially for flats. Source: RICS Cladding on its own page →
Clone firm #: A fraudster pretending to be a genuine authorised firm, often using a similar name or copied details. Verify a firm through independently obtained FCA Register contact details. Source: Financial Conduct Authority Clone firm on its own page →
Commercial use #: Use of all or part of a home for business purposes. The type, scale, visitors, insurance and title/planning position may affect provider criteria. Read the full guide: Equity release above or beside a business → Commercial use on its own page →
Competent person scheme #: A scheme allowing certain registered installers to self-certify particular types of building work. The relevant certificate can be useful property evidence. Source: GOV.UK Competent person scheme on its own page →
Complaint #: A formal expression of dissatisfaction about a firm, product or service. The usual first step is to complain to the business; if a reader remains unhappy, the Financial Ombudsman Service may be able to consider the case. Source: Financial Ombudsman Service Complaint on its own page →
Completion #: The stage when legal documents are finalised and money is released, subject to the offer’s conditions. It is not the same as receiving a casual calculator estimate. Completion on its own page →
Completion certificate #: A document issued after certain building work to confirm compliance with building-regulations requirements. It can be useful evidence for an altered property. Source: GOV.UK Completion certificate on its own page →
Completion statement #: A financial breakdown prepared for completion, showing money received, payments made and costs due. Check it with the solicitor if anything is unclear. Completion statement on its own page →
Compound interest #: Interest charged on the original borrowing and on interest already added to the account. If no payments are made, the amount owed can grow over time. Source: MoneyHelper Read the full guide: How rolled-up interest works, with the arithmetic → Compound interest on its own page →
Conditions of offer #: Requirements that must be met before or after completion, such as repaying existing secured debt, insuring the home or providing documents. They are specific to the offer. Conditions of offer on its own page →
Consent #: Clear agreement to a particular action, such as a property, legal or data-processing step. The form, scope and ability to withdraw it depend on the context. Consent on its own page →
Consumer Charter #: An Equity Release Council document setting out what its members should do for customers. It is a Council document rather than law, and it binds members, so it is not a guarantee that every provider or product in the market follows the same standards. Source: Equity Release Council Read the full guide: The no-negative-equity guarantee, and its conditions → Consumer Charter on its own page →
Consumer Duty #: FCA rules that require firms to act to deliver good outcomes for retail customers. It is not a product guarantee and does not replace reading the documents or taking advice. Source: Financial Conduct Authority Consumer Duty on its own page →
Consumer support #: The help a firm provides so a customer can understand, ask questions and take action. Support should take account of a customer’s communication needs and circumstances. Source: Financial Conduct Authority Consumer support on its own page →
Contract #: The binding legal documents that set out the rights, obligations, charges and conditions of a plan. The glossary is never a substitute for the contract. Contract on its own page →
Conveyancer #: A legal professional who deals with property transfers and related legal work. Equity release requires independent legal advice; the role and qualifications should be confirmed for the particular transaction. Source: MoneyHelper Read the full guide: Equity release fees, beyond the interest rate → Conveyancer on its own page →
Council Tax Reduction #: Help with council tax that can depend on circumstances and local rules. Released funds may affect eligibility, so seek a current benefits check rather than relying on a general rule. Source: MoneyHelper Read the full guide: Equity release and means-tested benefits → Council Tax Reduction on its own page →
Court of Protection #: A court that can make decisions or appoint a deputy for someone who lacks mental capacity to make relevant decisions. It is a legal process, not a step a website can decide is needed. Source: GOV.UK Court of Protection on its own page →
Credit check #: A check of credit-related information that a lender may use as part of its process. It does not on its own determine whether a later-life product is available. Credit check on its own page →
Criteria #: A provider’s rules for considering an application. Criteria may cover age, property, existing borrowing, health features, legal ownership and use of the home. They can change and are not a guarantee of acceptance. Criteria on its own page →

D

Data minimisation #: Collecting and keeping only personal data genuinely needed for a stated purpose. A reader should be able to see what a website collects, why and who receives it. Data minimisation on its own page →
Debt consolidation #: Using one borrowing arrangement to repay other debts. Securing formerly unsecured debt on a home can put the home at risk and may cost more over a long period; get debt advice and regulated advice first. Source: MoneyHelper Debt consolidation on its own page →
Deed #: A formal legal document, often used to create or record rights in land. A solicitor can explain which deeds matter to a particular property or plan. Deed on its own page →
Deed of consent #: A legal document somebody living in a property may be asked to sign, postponing any rights or interest they might otherwise claim in it. One lender requires one from any adult occupier over 17 at completion who is not party to the mortgage, along with independent legal advice for that person. Wording, purpose and whether one is needed at all depend on the property, the people and the provider. Source: Provider criteria, dated example only Deed of consent on its own page →
Deed of variation #: A legal document that changes or clarifies rights or obligations in an existing deed, lease or title arrangement. A solicitor must advise on its effect for the property. Deed of variation on its own page →
Default #: A failure to meet a contractual obligation. The consequences and remedies are defined by the contract and law; do not assume a lifetime mortgage works like an ordinary monthly repayment mortgage. Default on its own page →
Deprivation of capital #: Under Universal Credit rules, knowingly reducing money, savings or investments, or transferring them elsewhere, in order to get or increase benefit. GOV.UK is explicit that paying debts or buying reasonable goods and services is not deprivation. Whether it applies is a decision made on the facts of a claim, and not something a website can settle. Source: GOV.UK Read the full guide: Equity release and means-tested benefits → Deprivation of capital on its own page →
Deputy #: A person appointed by the Court of Protection to make decisions for someone who lacks capacity when there is no suitable attorney with the necessary authority. Source: GOV.UK Deputy on its own page →
Disabled Facilities Grant (DFG) #: A local-authority grant that can help fund eligible home adaptations. The official public route applies in England and Wales, with different arrangements elsewhere in the UK. Check current local guidance before assuming eligibility or funding. Source: GOV.UK Disabled Facilities Grant (DFG) on its own page →
Disbursements #: Payments a solicitor makes to third parties during legal work, such as Land Registry fees or searches. They may be separate from the solicitor’s own fee. Disbursements on its own page →
Donor #: The person who makes a lasting or enduring power of attorney. The attorney’s role is to act within the document’s authority and in the donor’s interests. Source: GOV.UK Donor on its own page →
Downsizing #: Moving to a less expensive or more suitable home to release money. It is one alternative that should be considered alongside later-life borrowing. Source: MoneyHelper Read the full guide: Equity release or downsizing → Downsizing on its own page →
Drawdown #: Taking money in stages from an agreed facility rather than receiving all of it at once. Rules, minimum withdrawals, availability and interest treatment differ by product. Source: MoneyHelper Read the full guide: Lifetime mortgages → Drawdown on its own page →
Drawdown facility #: The unused part of a drawdown plan that may be available for later withdrawals under the plan’s terms. It is not a savings account and is not necessarily guaranteed in every circumstance. Read the full guide: Lifetime mortgages → Drawdown facility on its own page →

E

Early repayment charge (ERC) #: A charge that may apply if a plan is repaid early or repayments exceed permitted limits. The calculation, exemptions and duration vary by plan. Source: Equity Release Council and MoneyHelper Read the full guide: Early repayment charges on equity release → Early repayment charge (ERC) on its own page →
Easement #: A legal right over another person’s land, for example a right of access. It can be relevant to a property’s title, use and saleability and needs legal review in context. Easement on its own page →
Eligibility #: Whether an applicant and property meet a provider’s rules at a point in time. Only the provider’s process can assess an application; a guide or calculator cannot confirm it. Eligibility on its own page →
Enduring power of attorney (EPA) #: An older type of power of attorney for property and financial affairs made before October 2007. Its use and registration need checking through the official process. Source: GOV.UK Enduring power of attorney (EPA) on its own page →
Enhanced lifetime mortgage #: A lifetime mortgage where certain health or lifestyle information may affect the product terms or maximum loan-to-value. It is subject to evidence and provider underwriting, not a public self-assessment. Read the full guide: Lifetime mortgages → Enhanced lifetime mortgage on its own page →
Enquiry #: A request for information or contact. It is not an application, personal recommendation, quote or mortgage offer. Enquiry on its own page →
Equity #: The difference between a property’s current value and money secured against it. It can rise or fall and is not the same as cash available to release. Source: MoneyHelper Read the full guide: What equity release is, in plain English → Equity on its own page →
Equity release #: A broad term usually covering a lifetime mortgage or a home reversion plan, both ways of accessing value tied up in a home while continuing to live there. The two operate differently. Source: Equity Release Council and MoneyHelper Read the full guide: What equity release is, in plain English → Equity release on its own page →
Equity Release Council Standards #: Product and conduct standards set by the Equity Release Council for its members. They can include important safeguards, but the product terms and member status still need checking. Source: Equity Release Council Read the full guide: The no-negative-equity guarantee, and its conditions → Equity Release Council Standards on its own page →
Estate #: Everything a person owns and owes when they die. The property sale proceeds, loan balance, interest, fees and other debts affect what may remain for beneficiaries. Read the full guide: Equity release and what you leave behind → Estate on its own page →
European Standardised Information Sheet (ESIS) #: A standard mortgage information document used in some contexts. Ask the adviser which personalised illustration and regulated documents apply to the plan you are considering. European Standardised Information Sheet (ESIS) on its own page →
EWS1 form #: A set way for a building owner to confirm to lenders and valuers that a residential building's external wall system has been assessed by a suitable expert. RICS states plainly that it is not a life safety certificate. It covers the whole building rather than one flat, and its absence does not prove that remedial work will be needed. Source: RICS EWS1 form on its own page →
Ex-local-authority property #: A property originally sold by a local authority. Construction, block type, tenure, resale market and provider criteria may matter more than the label alone. Source: Provider criteria, dated example only Read the full guide: Equity release on an ex-council house or flat → Ex-local-authority property on its own page →
Execution-only #: A transaction made without a personal recommendation from an adviser. Do not assume that route is available or suitable for equity release; take advice on the service and protections that apply. Execution-only on its own page →
Executor #: A person named in a will to deal with the estate after someone dies. Their duties and authority are legal matters; they should obtain appropriate legal support for a property with secured borrowing. Executor on its own page →
Existing mortgage #: Borrowing already secured on a property. A new plan may require it to be repaid at completion, but only the product process can confirm the order and amount. Existing mortgage on its own page →

F

Fact find #: The information-gathering stage in an advice process. It can cover finances, household, objectives, health, property, family wishes and alternatives so the adviser can assess suitability. Fact find on its own page →
Family loan #: Money lent by a family member rather than a financial provider. It can be an alternative worth discussing, but the repayment expectations, legal position and effect on family relationships should be clear. Family loan on its own page →
FCA #: The Financial Conduct Authority, the UK regulator for financial services firms and financial promotions. Use the FCA Register to check a firm’s status. Source: Financial Conduct Authority FCA on its own page →
FCA Register #: The FCA’s official register for checking a firm or individual’s regulatory status and contact details. It helps a reader verify who they are dealing with but is not a product endorsement. Source: Financial Conduct Authority Read the full guide: How to check the person you are talking to → FCA Register on its own page →
Fee #: A charge for advice, valuation, legal work, arrangement, completion or another service. Ask for the total known cost, when it is paid and whether it is added to borrowing. Source: MoneyHelper Read the full guide: Equity release fees, beyond the interest rate → Fee on its own page →
Financial Ombudsman Service (FOS) #: An independent service that may investigate complaints about financial businesses after the business has had an opportunity to respond. Its remit and process depend on the case. Source: Financial Ombudsman Service Financial Ombudsman Service (FOS) on its own page →
Financial promotion #: A communication that invites or induces someone to engage in financial activity and is subject to FCA rules. A web page, social post, calculator result or email may require review. Source: Financial Conduct Authority Financial promotion on its own page →
Financial resilience #: A person’s ability to cope with financial shocks or changes. It is one wider consideration in an advice conversation, not a score that a website should assign. Financial resilience on its own page →
Financial Services Compensation Scheme (FSCS) #: A compensation scheme that can protect eligible customers when an authorised financial firm fails. Its coverage, limits and applicability depend on the product and circumstances. Source: Financial Conduct Authority Financial Services Compensation Scheme (FSCS) on its own page →
Financial Services Register (FS Register) #: The FCA’s public record of firms and individuals, including historical regulatory information. It is different from Firm Checker, which helps when considering a new service. Source: Financial Conduct Authority Financial Services Register (FS Register) on its own page →
Fire Risk Appraisal of External Walls (FRAEW) #: A specialist appraisal of an external wall system, carried out in accordance with PAS 9980, which informs the fire risk assessment for a whole building. It has a different purpose from an EWS1 form, and neither document decides whether a provider will lend. Source: RICS Fire Risk Appraisal of External Walls (FRAEW) on its own page →
Firm Checker #: The FCA tool for checking a firm before using a financial product or service. Compare its official contact details with the details you were given. Source: Financial Conduct Authority Firm Checker on its own page →
First legal charge #: The security with priority over other charges on a property. Whether existing secured borrowing must be repaid before a new plan is completed depends on the provider and legal process. First legal charge on its own page →
Fixed early repayment charge #: An ERC calculated using a stated schedule or percentage rather than market measures. Check the actual offer because the name alone does not show the charge. Read the full guide: Early repayment charges on equity release → Fixed early repayment charge on its own page →
Fixed interest rate #: A rate set for the lifetime of a particular withdrawal or product according to its terms. “Fixed” does not mean the total debt stays fixed when interest is being added. Read the full guide: How rolled-up interest works, with the arithmetic → Fixed interest rate on its own page →
Flat roof #: A roof with a low slope. Its proportion of the overall roof, age, materials, condition and remaining life can matter to valuation or criteria. Flat roof on its own page →
Flood risk #: The likelihood and consequences of flooding at a property. It may influence insurance, valuation and provider assessment; use current property-specific evidence. Source: Provider criteria, dated example only Read the full guide: What lenders and valuers assess about a property → Flood risk on its own page →
Flying freehold #: A property arrangement where part of a building extends over or under land owned by someone else. Legal rights and lender treatment can be important, so obtain legal and provider-specific advice. Source: Provider criteria, dated example only Read the full guide: Equity release and a flying freehold → Flying freehold on its own page →
Freehold #: A form of property ownership that usually gives ownership of the building and land indefinitely, subject to legal rights and obligations. It does not automatically make a home acceptable to every lender. Read the full guide: Equity release and a flying freehold → Freehold on its own page →
Freehold flat #: A flat held freehold rather than on a lease. Title, rights, building responsibility and lender policy can make it more complex than the phrase alone suggests. Source: Provider criteria, dated example only Read the full guide: Equity release and a flying freehold → Freehold flat on its own page →
Further advance #: Additional borrowing on top of an existing mortgage or plan. A provider may require a new assessment, valuation, advice or evidence, so it is not an automatic right. Further advance on its own page →

G

Gift #: Money given to another person, often family. Before releasing money to gift, consider benefits, inheritance, tax and future care needs with the appropriate adviser. Source: MoneyHelper Gift on its own page →
Gilt yield #: The return on a UK government bond. Some product terms may refer to gilt yields when explaining an early repayment charge, but the actual contract formula controls. Gilt yield on its own page →
Gilt-linked early repayment charge #: An ERC whose calculation can be linked to government bond yields or another stated market measure. It can be harder to predict than a fixed schedule; read the formula in the offer. Source: Equity Release Council Read the full guide: Early repayment charges on equity release → Gilt-linked early repayment charge on its own page →
Grant of probate #: A legal document that can give named executors authority to deal with a deceased person’s estate where there is a will. Whether it is needed is a legal question. Source: GOV.UK Read the full guide: Equity release and what you leave behind → Grant of probate on its own page →
Ground rent #: A payment that may be due under a lease. Its amount, review clause and remaining lease term can be relevant to the property and must be disclosed accurately. Ground rent on its own page →
Guarantor #: A person who agrees to meet another person’s debt obligations if they do not. Do not assume guarantor arrangements are available for a later-life product. Guarantor on its own page →

H

Health and lifestyle assessment #: Questions and evidence that may be used to assess an enhanced product. The information is sensitive and should only be handled through an approved, secure, regulated process. Health and lifestyle assessment on its own page →
Health and welfare LPA #: A type of lasting power of attorney covering health and welfare decisions when the donor cannot make them. It is different from a property and financial affairs LPA. Source: GOV.UK Health and welfare LPA on its own page →
Home adaptation #: A change to the fabric or fixtures of a home intended to make daily living safer or easier, such as ramps, wider doors, stairlifts or a level-access shower. It is an independent housing/care issue before it is a finance question. Source: GOV.UK Home adaptation on its own page →
Home improvement #: Work that repairs, maintains or changes a home. The project’s planning, building-regulation, title, cost and future-property implications should be considered separately from any borrowing decision. Home improvement on its own page →
Home reversion plan #: A type of equity release in which all or part of a home is sold to a provider in return for money, while the homeowner normally has a right to remain under the plan’s terms. It is not a mortgage and ownership changes. Source: Equity Release Council and MoneyHelper Read the full guide: Home reversion → Home reversion plan on its own page →
Homeowner #: A person who owns a legal interest in a home. The exact ownership, occupiers and title restrictions can matter to a plan. Homeowner on its own page →
Identity check #: A check to establish who someone is, often using documents or electronic verification. A legitimate firm should explain why it needs information and how it will use it. Identity check on its own page →
Illustration #: A personalised document showing the proposed product, costs, assumptions, features and risks. Read it alongside the suitability letter and ask about anything unclear. Source: Equity Release Council and MoneyHelper Illustration on its own page →
Independent legal advice #: Advice from a solicitor acting for the customer, not the provider, on the legal effect of the plan. It is a key safeguard in the process. Source: Equity Release Council and MoneyHelper Independent legal advice on its own page →
Inheritance #: Assets that may pass to beneficiaries after someone dies. Interest, charges, repayment of borrowing and property value can reduce the estate available to leave. Source: MoneyHelper Read the full guide: Equity release and what you leave behind → Inheritance on its own page →
Inheritance protection #: A feature that may reserve a stated share of future property-sale proceeds for beneficiaries. It can affect product terms or the maximum release; read the offer and compare the trade-off. Read the full guide: Equity release and what you leave behind → Inheritance protection on its own page →
Inheritance Tax (IHT) #: A tax that can apply to an estate in some circumstances. Decisions about gifting or property should be discussed with an appropriately qualified tax or legal professional, not based on a general web page. Read the full guide: Equity release and what you leave behind → Inheritance Tax (IHT) on its own page →
Initial advance #: The first amount released when a plan completes. A later withdrawal from a drawdown facility may have different rate or feature terms. Initial advance on its own page →
Initial notice #: A notice used in some building-control processes when a registered building-control approver is appointed. It is a construction-compliance term, not a property-lending decision. Source: GOV.UK Initial notice on its own page →
Interest #: The cost charged for borrowing. On a roll-up lifetime mortgage, unpaid interest is added to the balance and may itself attract interest. Interest on its own page →
Interest-only maturity #: The date an interest-only mortgage’s capital repayment is due. A homeowner facing this point may need advice on the full range of options rather than assuming equity release is the answer. Interest-only maturity on its own page →
Interest-only mortgage #: A mortgage in which regular payments normally cover interest, while the original capital is due by another repayment method at the end of the term. It is different from a roll-up lifetime mortgage. Interest-only mortgage on its own page →
Interest-serviced lifetime mortgage #: A lifetime mortgage that permits or requires stated payments towards interest under its terms. Missing required payments can have consequences, so affordability and conditions matter. Source: MoneyHelper Read the full guide: Lifetime mortgages → Interest-serviced lifetime mortgage on its own page →
Intestacy #: The legal rules that apply to an estate where someone dies without a valid will. They determine who may administer the estate and who inherits. Source: GOV.UK Intestacy on its own page →
Introducer #: A person or business that passes a potential customer to an adviser or firm. The customer should be told the nature of the relationship and any relevant payment or commission. Introducer on its own page →
Introducer appointed representative (IAR) #: A business permitted to carry on limited regulated activity under a principal firm’s responsibility. Check the FCA Register and understand what service it can provide. Source: Financial Conduct Authority Introducer appointed representative (IAR) on its own page →

J

Japanese knotweed #: An invasive plant that can affect a property’s condition, saleability and a lender’s valuation approach. Its presence does not express a universal result; evidence, treatment and lender policy matter. Source: RICS and Provider criteria, dated example only Read the full guide: Equity release and Japanese knotweed → Japanese knotweed on its own page →
Joint applicants #: Two or more people applying together. Their ages, ownership, rights of occupation and circumstances can all be relevant to the product and legal advice. Joint applicants on its own page →
Joint tenants #: A way of jointly owning property where the surviving owner usually automatically receives the other owner’s share. This is different from tenants in common and needs legal advice in context. Joint tenants on its own page →
Jointly #: A way multiple attorneys may be appointed so that they must make decisions together. The LPA’s wording and replacement arrangements are important. Source: GOV.UK Jointly on its own page →
Jointly and severally #: A way multiple attorneys may be appointed so that they can make decisions together or independently, depending on the LPA. The appointment wording controls. Source: GOV.UK Jointly and severally on its own page →

K

Key Facts Illustration (KFI) #: A document from a provider that outlines essential information about a product. Current document names and formats can vary, so ask which personalised illustration applies. Source: Equity Release Council Read the full guide: Equity release fees, beyond the interest rate → Key Facts Illustration (KFI) on its own page →

L

Last survivor #: In a joint plan, the point at which the last remaining borrower dies or permanently moves into long-term care. Repayment triggers are defined in the product terms. Last survivor on its own page →
Lasting power of attorney (LPA) #: A legal document that can appoint one or more people to make decisions for another person if they lose capacity. The relevant type, scope and registration must be checked with a solicitor or the appropriate official service. Lasting power of attorney (LPA) on its own page →
Lease extension #: The legal process of increasing the remaining term of a lease. Rights, costs and timing are property-specific legal matters. Read the full guide: Equity release with a short lease → Lease extension on its own page →
Lease term #: The number of years left on a lease. Providers can set their own minimum remaining term requirements, and a short lease may affect valuation or options. Read the full guide: Equity release with a short lease → Lease term on its own page →
Leasehold #: A form of ownership where a person owns the right to occupy a property for a fixed lease term rather than owning the land outright. The lease length, ground rent, service charge and conditions can matter. Source: Provider criteria, dated example only Read the full guide: Equity release with a short lease → Leasehold on its own page →
Legal charge #: A registered security interest over property for a loan. It gives the lender rights set out in the mortgage and law if the debt needs to be repaid. Legal charge on its own page →
Legal owner #: The person or people who hold the legal estate in a property, often shown as registered proprietors. Legal ownership and beneficial interest are related but can be different. Source: GOV.UK Legal owner on its own page →
Lender #: A provider that makes a mortgage loan. Its criteria and product terms may differ from those of another lender and from an adviser’s general explanation. Lender on its own page →
Letter of administration #: A legal document that may give someone authority to deal with an estate where there is no will or no executor able to act. The correct process depends on the estate and jurisdiction. Letter of administration on its own page →
Level-access shower #: A shower designed to be accessed without stepping over a raised tray. It is one example of a home adaptation, not a financial-product feature. Source: GOV.UK Level-access shower on its own page →
Lifetime mortgage #: A loan secured against a home, usually repaid from the property sale after the last borrower dies or moves permanently into long-term care. Interest may roll up unless payments are made under the plan’s terms. Source: Equity Release Council and MoneyHelper Read the full guide: Lifetime mortgages → Lifetime mortgage on its own page →
Lifetime tenancy #: The right to remain in a home for life or another stated period under a home reversion arrangement. The exact right and conditions are set out in the plan documents. Lifetime tenancy on its own page →
Listed building #: A building with legal protection because of historic or architectural interest. Alterations and repairs may require consent and can affect the property assessment. Listed building on its own page →
Loan balance #: The amount currently owed under a loan, which may include the original borrowing, interest and charges as set out in the account. Loan balance on its own page →
Loan illustration #: A document showing how a proposed loan could work, its costs and assumptions. It is based on information available at the time and should not be confused with a final offer. Loan illustration on its own page →
Loan-to-value (LTV) #: A ratio comparing borrowing with property value. In later-life lending, the maximum available LTV can depend on age, health, property and product criteria. It is not an offer. Loan-to-value (LTV) on its own page →
Local authority grant #: Financial help that a local authority may offer for particular needs, such as eligible adaptations or repairs. Schemes, eligibility and funding vary locally, so check the current council guidance. Local authority grant on its own page →
Local authority search #: A property search that can reveal certain planning, building-control and local matters. It is part of legal due diligence, not a valuation guarantee. Local authority search on its own page →
Lodger #: A person who lives in a homeowner’s property under a lodging arrangement. A plan may have conditions about occupiers, so disclose the arrangement and check the terms. Lodger on its own page →
Lump sum #: Money taken in one withdrawal rather than in stages. Interest treatment and any impact on benefits can differ from a drawdown approach. Source: MoneyHelper Read the full guide: Lifetime mortgages → Lump sum on its own page →

M

Main residence #: The home a person normally lives in. Products commonly require the secured property to be the main residence, subject to their own rules. Main residence on its own page →
Maisonette #: A self-contained home within a larger building, often with its own entrance. Tenure, title, building responsibility and provider criteria can be relevant. Maisonette on its own page →
Mandatory payment lifetime mortgage #: A lifetime mortgage with required regular payments, distinct from an optional-payment design. The conditions, affordability assessment and consequences of missed payments must be understood. Source: Equity Release Council Read the full guide: Lifetime mortgages → Mandatory payment lifetime mortgage on its own page →
Means-tested benefit #: A benefit assessed using income, capital and circumstances. Do not assume that a released lump sum is ignored; obtain an individual benefits check. Source: MoneyHelper Read the full guide: Equity release and means-tested benefits → Means-tested benefit on its own page →
Medical underwriting #: The provider’s assessment of health information for an enhanced product. It is not medical advice and does not guarantee a particular rate or amount. Medical underwriting on its own page →
Mental capacity #: See “Capacity”. It concerns whether someone can make a specific decision at the relevant time, not a label a website can apply to a person. Mental capacity on its own page →
Monthly equivalent rate (MER) #: A monthly way of expressing interest. Compare it carefully with the AER and the personalised illustration, particularly where interest compounds. Source: Equity Release Council Monthly equivalent rate (MER) on its own page →
Mortgage #: A loan secured against property. A lifetime mortgage is one form of mortgage, but it has different repayment timing and features from many mainstream repayment mortgages. Mortgage on its own page →
Mortgage deed #: A legal document creating or recording the mortgage security over a property. A solicitor should explain it before completion. Mortgage deed on its own page →
Mortgage offer #: The provider’s formal written offer, setting out the amount, terms, conditions, rate and charges. It should be read with independent legal and regulated advice. Mortgage offer on its own page →
Mortgage redemption statement #: A statement showing the amount needed to repay a mortgage on a stated date. It may include capital, interest, fees and any applicable charge. Read the full guide: Early repayment charges on equity release → Mortgage redemption statement on its own page →
Mortgage term #: The period covered by mortgage terms. An interest-only mortgage can have a stated maturity date; a lifetime mortgage has different repayment triggers set out in its contract. Mortgage term on its own page →

N

Negative equity #: A situation where the amount owed on a secured loan is more than a property’s sale value. A no-negative-equity guarantee, where it applies, has particular terms and should be checked in the product documents. Read the full guide: The no-negative-equity guarantee, and its conditions → Negative equity on its own page →
No-negative-equity guarantee (NNEG) #: A safeguard found in many Council-standard lifetime mortgages that means repayment will not exceed the sale proceeds of the property, subject to the plan terms. It does not protect an inheritance amount or prevent the debt from growing. Source: Equity Release Council and MoneyHelper Read the full guide: The no-negative-equity guarantee, and its conditions → No-negative-equity guarantee (NNEG) on its own page →
Non-standard construction #: A building type or material outside what a provider regards as standard construction. It may need specialist valuation or a referral; the definition is provider-specific. Source: Provider criteria, dated example only Non-standard construction on its own page →
Notice of assignment #: A formal notice that rights or obligations have been transferred from one party to another. Its relevance and effect on a property transaction need legal explanation. Notice of assignment on its own page →
Notional capital #: Capital that a benefit decision treats somebody as still having, after a finding of deprivation of capital. Universal Credit is then worked out as though the money were still there. It is a decision made on a claim, not a calculation this site can do for you. Source: GOV.UK Read the full guide: Equity release and means-tested benefits → Notional capital on its own page →

O

Occupancy #: Who lives in a property and under what rights. Occupancy by a partner, tenant, lodger or family member can be legally significant and must be disclosed. Occupancy on its own page →
Occupancy waiver #: A legal document that may be used to record an occupier’s position in relation to a mortgage. Only a solicitor and the provider can explain whether it is required in a particular case. Occupancy waiver on its own page →
Occupational therapist #: A health and care professional who may assess how someone manages everyday activities and recommend adaptations or equipment. They do not decide the suitability of a financial product. Occupational therapist on its own page →
Offer #: A formal proposal from a provider after its process, valuation and checks. An online calculation, marketing example or initial discussion is not an offer. Offer on its own page →
Office of the Public Guardian (OPG) #: The public body that supports and supervises attorneys and deputies in England and Wales. It is relevant to lasting powers of attorney and capacity arrangements. Source: GOV.UK Office of the Public Guardian (OPG) on its own page →
Ordinary power of attorney #: A short-term power that can help someone make decisions while the person granting it still has capacity. It is different from a lasting power of attorney. Source: GOV.UK Ordinary power of attorney on its own page →
Overpayment #: A payment above any required regular amount. A plan may allow some payments without an ERC, subject to limits and conditions. Source: Equity Release Council Overpayment on its own page →
Ownership #: The legal and beneficial rights a person has in a property. Title, co-owners, trusts, lease terms and restrictions can all affect a transaction. Ownership on its own page →

P

Partial repayment #: Paying back part of the loan before the plan ends. Check the permitted amount, timing and early repayment charge rules in the product documents. Read the full guide: Early repayment charges on equity release → Partial repayment on its own page →
Pension Credit #: A means-tested benefit for some people over State Pension age. A change in savings or capital can affect entitlement, so obtain a current benefits check for the individual situation. Source: MoneyHelper Read the full guide: Equity release and means-tested benefits → Pension Credit on its own page →
Permanent move into long-term care #: An event that may trigger repayment under a lifetime mortgage after the last borrower moves into qualifying long-term care. The exact definition and process belong to the plan’s terms. Permanent move into long-term care on its own page →
Permission #: A regulatory authorisation allowing a firm to provide particular financial services. Check that the firm has permission for the exact service it is offering. Source: Financial Conduct Authority Permission on its own page →
Personal data #: Information relating to an identified or identifiable person, such as contact details. A site should only collect what it needs and explain its handling in a privacy notice. Personal data on its own page →
Personal recommendation #: Advice that says a particular product is suitable for a person’s circumstances. General website information must not present itself as a personal recommendation. Personal recommendation on its own page →
Personal representative #: The person legally responsible for administering a deceased person’s estate, such as an executor or administrator. Their authority should be checked before dealing with secured property. Personal representative on its own page →
Planning permission #: Permission that may be required for certain building work or changes of use. It is separate from building-regulation approval and may be relevant to alterations or annexes. Planning permission on its own page →
Portability #: The possibility of moving a plan to a new main residence. It depends on the new property, provider criteria and plan terms; it is not a guarantee that every move will work. Source: Equity Release Council Portability on its own page →
Porting #: Another name for moving a mortgage or plan to a new property. See “Portability”; whether it is possible depends on the plan and the new home. Porting on its own page →
Power of attorney #: A legal document appointing someone to make decisions on another person’s behalf. The type, scope and registration status matter. Take legal advice. Power of attorney on its own page →
PRC property #: A property built using prefabricated reinforced concrete construction. Certification, repair history, condition and provider policy can be important. PRC property on its own page →
Preferences and instructions #: Statements in a lasting power of attorney that guide or limit an attorney’s decisions. The registered document must be checked before relying on them. Source: GOV.UK Preferences and instructions on its own page →
Privacy notice #: A notice explaining what personal data a business collects, why it uses it, who it shares it with and the person’s relevant rights. It must match the actual data flow. Privacy notice on its own page →
Probate #: The legal process that may give an executor authority to deal with a deceased person’s estate. Whether it is needed and what steps apply depend on the estate and jurisdiction. Read the full guide: Equity release and what you leave behind → Probate on its own page →
Property and financial affairs LPA #: A lasting power of attorney that can cover money and property decisions. Its authority, registration and any restrictions need checking before it is relied on. Source: GOV.UK Property and financial affairs LPA on its own page →
Property valuation #: A professional assessment of a property’s value and saleability, often required by a provider. It can identify features needing further evidence or a criteria referral. Read the full guide: What lenders and valuers assess about a property → Property valuation on its own page →
Property value #: The value a valuer places on a property at a particular time for a particular purpose. It can differ from an estate-agent estimate, asking price or online estimate. Property value on its own page →
Provider #: The company offering the mortgage or home reversion plan. Its product terms, criteria, fees and customer service are distinct from the adviser’s service. Provider on its own page →
Pylon or overhead power line #: Electricity infrastructure close to a property. Distance, visibility, safety evidence, valuation and provider policy can matter, and lender thresholds are not universal. Source: Provider criteria, dated example only Read the full guide: Equity release near pylons and overhead cables → Pylon or overhead power line on its own page →

Q

Qualified equity release adviser #: An adviser with the relevant qualification and FCA authorisation to advise on equity release. Check the firm and person through the FCA Register. Source: Equity Release Council and Financial Conduct Authority Read the full guide: How to check the person you are talking to → Qualified equity release adviser on its own page →
Quote #: An informal indication of price or terms. It is not necessarily a regulated personalised illustration, a recommendation or an offer. Avoid treating web calculator results as quotes. Quote on its own page →

R

RAAC #: Reinforced autoclaved aerated concrete, a lightweight material used in some buildings. A qualified professional should assess any suspected presence; it is not something a website can diagnose. RAAC on its own page →
Redemption #: Repaying a mortgage or plan in full, usually from property sale proceeds or another source. The redemption figure may include capital, interest, fees and any applicable ERC. Read the full guide: Early repayment charges on equity release → Redemption on its own page →
Redemption date #: The date for which a redemption figure is calculated. Interest and charges can change over time, so a statement is usually date-specific. Read the full guide: Early repayment charges on equity release → Redemption date on its own page →
Referral #: A case that needs further consideration outside an automatic rule. A property or applicant referral is not approval or refusal. Referral on its own page →
Registered LPA #: A lasting power of attorney that has been registered through the official process. Whether and when an attorney can act still depends on the document’s type and terms. Source: GOV.UK Registered LPA on its own page →
Registered proprietor #: A person shown as a legal owner in the Land Registry title record. The record may not show every beneficial interest in the property. Source: GOV.UK Registered proprietor on its own page →
Regularisation #: A route for seeking building-regulations approval retrospectively for certain work completed without the necessary approval. It is a property/legal process, not a lender decision. Source: GOV.UK Regularisation on its own page →
Remortgage #: Replacing an existing mortgage with a new mortgage, often with a different lender or product. It is one option that may need discussing alongside other later-life choices. Remortgage on its own page →
Replacement attorney #: A person nominated in a lasting power of attorney to step in if an original attorney cannot act. The LPA states when and how this can happen. Source: GOV.UK Replacement attorney on its own page →
Reserve facility #: Another term for the unused amount available under some drawdown arrangements. It is subject to the plan’s conditions and is not a promise that every future withdrawal will be available. See “Drawdown facility”. Read the full guide: Lifetime mortgages → Reserve facility on its own page →
Restrictions and conditions #: Binding directions or limits included in an LPA. They can affect what an attorney may do, so the official registered document and a solicitor should be consulted. Source: GOV.UK Restrictions and conditions on its own page →
Restrictive covenant #: A title condition limiting how a property can be used or altered. Its meaning and enforceability need legal advice and may be relevant to a lender. Restrictive covenant on its own page →
Retirement interest-only (RIO) mortgage #: A later-life mortgage where the borrower normally pays monthly interest and the capital is repaid when the property is sold or another agreed event occurs. It is an alternative that usually requires affordability assessment. Source: MoneyHelper Read the full guide: Retirement interest-only mortgages, and the difference → Retirement interest-only (RIO) mortgage on its own page →
Reversion percentage #: The percentage of a home sold to a home reversion provider. It affects the share of eventual sale proceeds the provider will receive under the plan. Read the full guide: Home reversion → Reversion percentage on its own page →
Right of way #: A type of easement allowing someone to pass over land. Its route, maintenance obligations and title evidence can matter to a property assessment. Right of way on its own page →
Right to reside #: The contractual right to remain in a home, subject to the plan’s conditions. In a home reversion plan it is central because ownership has been transferred in whole or part. Right to reside on its own page →
Risk warning #: Clear, prominent information about an important downside or limitation. It must relate to the actual page and not be generic small print. Read the full guide: The risks of equity release, with the numbers → Risk warning on its own page →
Rolled-up interest #: Interest added to the mortgage balance instead of being paid as it falls due. Future interest may then be charged on the larger balance. Source: Equity Release Council and MoneyHelper Rolled-up interest on its own page →
Roof condition #: The state of a roof, including materials, age, defects and insulation. It can affect a valuation or the evidence a provider requests. Roof condition on its own page →

S

Sale and rent back #: A different arrangement where a home is sold and the former owner rents it back. It is not the same as equity release and must not be presented as a casual substitute. Sale and rent back on its own page →
Sale proceeds #: Money received when a property is sold, before or after relevant costs as specified. On a lifetime mortgage, the loan and interest are normally repaid from the proceeds according to the plan. Sale proceeds on its own page →
Saleability #: How readily a property may be sold in the market, taking account of its type, condition, location and legal factors. It is a valuation consideration, not an automated yes/no rule. Saleability on its own page →
Scam #: A dishonest attempt to obtain money or information. Be cautious about unexpected contact, check the firm independently and do not rely on contact details supplied by an unverified caller or message. Source: Financial Conduct Authority Scam on its own page →
Second kitchen #: Another kitchen or kitchen facilities within a property or annexe. Its location, use, separate access, utilities and occupancy can affect assessment; it is not automatically a refusal. Source: Provider criteria, dated example only Read the full guide: Equity release with two kitchens → Second kitchen on its own page →
Secured debt #: Borrowing backed by an asset, commonly a home. If the debt cannot be repaid, the security gives the lender rights defined by the agreement and law. Secured debt on its own page →
Security #: Property or another asset used to support a loan. A mortgage lender takes security over the home according to the legal documents. Security on its own page →
Service charge #: A payment under a lease or property arrangement for shared services or maintenance. It can affect a leasehold property’s costs and should be disclosed. Service charge on its own page →
Severance #: A legal change from joint tenancy to tenants in common. It can affect how a share passes on death and needs legal advice. Source: GOV.UK Severance on its own page →
Shared equity #: An arrangement where another party has a financial interest in a property. It is different from shared ownership and may need provider and legal review. Read the full guide: What equity release is, in plain English → Shared equity on its own page →
Shared ownership #: A tenure where a homeowner owns a share and usually pays rent on the rest. It often needs specialist consideration; do not assume standard lender treatment. Shared ownership on its own page →
Short lease #: A lease with relatively few years remaining. What counts as short is provider-specific; the remaining term and ability to extend can affect value and options. Source: Provider criteria, dated example only Read the full guide: Equity release with a short lease → Short lease on its own page →
Solar panels #: Panels generating electricity from sunlight. Ownership, finance agreements, roof condition, permissions and title documents may need checking. Solar panels on its own page →
Solicitor #: A qualified legal professional. In equity release, an independent solicitor explains the legal documents and acts for the customer. Source: Equity Release Council and MoneyHelper Read the full guide: Equity release fees, beyond the interest rate → Solicitor on its own page →
Solicitor's certificate #: A document in the Equity Release Council's standards process confirming that independent legal advice has been given. The Council publishes separate versions for standard lifetime mortgages and for mandatory payment lifetime mortgages. It is not a certificate of title, and it does not replace reading the offer or taking advice on the transaction itself. Source: Equity Release Council Solicitor's certificate on its own page →
Source #: The original document or organisation supporting a factual statement. For this site, sources must be named, linked, dated and rechecked when the claim can change. Source on its own page →
Spray foam insulation #: Insulation applied to a roof or other building area. Its condition, installation evidence, ventilation and impact on inspection or valuation may matter; treatment differs between providers. Source: RICS and Provider criteria, dated example only Read the full guide: Equity release and spray foam insulation → Spray foam insulation on its own page →
Stairlift #: A powered chair or platform that helps someone move between floors. It is an example of a home adaptation and may need property, safety or funding consideration separate from any borrowing. Source: GOV.UK Stairlift on its own page →
Standard construction #: A building type a provider treats as conventional for its lending policy. Each provider defines it, so it is not a universal label. Standard construction on its own page →
Structural movement #: Movement in a building that may have many possible causes. A qualified surveyor should assess any concern; a website cannot diagnose it or predict lending treatment. Structural movement on its own page →
Subsidence #: Downward movement of the ground supporting a building, which can cause structural damage. It may require specialist investigation, repair evidence and valuation review. Subsidence on its own page →
Suitability letter #: A personalised explanation of an adviser’s recommendation and why it is considered suitable for the customer’s circumstances. Read it with the illustration and ask questions before proceeding. Source: MoneyHelper Read the full guide: The equity release questions to take with you → Suitability letter on its own page →
Survey #: An inspection or report about a property’s condition. It is different from a valuation, though the two can overlap in information gathered. Read the full guide: What lenders and valuers assess about a property → Survey on its own page →
Survivorship #: The legal effect under joint tenancy where a deceased owner’s interest passes automatically to the surviving owner or owners. It differs from tenants in common. Source: GOV.UK Survivorship on its own page →

T

Telephone mast #: Communications infrastructure near or on a property. The legal agreement, location, visibility, valuation and provider policy can be relevant. Source: Provider criteria, dated example only Telephone mast on its own page →
Tenancy #: A legal right to occupy a property, usually under a tenancy agreement. A tenant, family occupier or other resident can affect a provider’s requirements. Tenancy on its own page →
Tenants in common #: A way of jointly owning property in which each owner has a defined share that can pass under their will. It differs from joint tenancy and should be discussed with a solicitor. Tenants in common on its own page →
Tenure #: The legal basis on which a property is occupied or owned, such as freehold or leasehold. It is one factor in property assessment. Tenure on its own page →
Title #: The official legal record of ownership and rights over land or property. A solicitor examines title issues relevant to a transaction. Title on its own page →
Title indemnity insurance #: Insurance that may protect against a defined legal-title risk. It does not repair the underlying title issue and its suitability needs legal advice. Title indemnity insurance on its own page →
Title plan #: The HM Land Registry plan showing where a registered property is and its general boundaries. Land Registry is clear that there is usually no record of exact boundaries, so a title plan is read with the register and any relevant deeds rather than relied on to settle a boundary. England and Wales. Source: GOV.UK Read the full guide: What lenders and valuers assess about a property → Title plan on its own page →
Title register #: The HM Land Registry record for a registered title. It can show the title number, who owns the property, what they paid where that is available, any rights of way, and whether a mortgage has been discharged. Read it with the title plan, and with legal advice where something on it matters to a decision. England and Wales. Source: GOV.UK Read the full guide: What lenders and valuers assess about a property → Title register on its own page →
Title restriction #: An entry that limits what can be registered or done with a property without a stated consent or evidence. It may need resolving before completion. Title restriction on its own page →
Transfer deed #: A legal document used to transfer ownership of property or a share in it. The effect on ownership, tax and a mortgage requires professional advice. Transfer deed on its own page →
Transfer of equity #: A change in property ownership, for example adding or removing an owner. It has legal, tax and mortgage implications and requires professional advice. Read the full guide: What equity release is, in plain English → Transfer of equity on its own page →
Trust #: A legal arrangement in which assets are held by trustees for beneficiaries. A trust interest in a property can affect who has authority to enter into a plan. Trust on its own page →
Trustee #: A person or organisation legally responsible for managing assets in a trust. Their powers and the trust deed may matter where property is held in trust. Trustee on its own page →
Two kitchens #: See “Second kitchen”. This alternative label should link to the same anchor and never create a separate thin definition or duplicate page. Two kitchens on its own page →

U

Unadopted road #: A private road not maintained by the local highway authority. Access, maintenance rights and costs may need title and valuation review. Unadopted road on its own page →
Unauthorised firm #: A firm that does not have the required FCA authorisation or registration for the service it is offering. A reader should check the firm and its contact details independently. Source: Financial Conduct Authority Read the full guide: How to check the person you are talking to → Unauthorised firm on its own page →
Underwriting #: A provider’s assessment of the applicant, property, evidence and risk before a decision. It can involve checks beyond a published criteria list. Underwriting on its own page →
Unencumbered property #: A home with no mortgage or other charge that must be repaid before new borrowing. The title can still contain other rights or restrictions. Unencumbered property on its own page →
Unsecured borrowing #: Borrowing that is not secured against a home, such as some personal loans or credit cards. It has different costs and risks from a mortgage and should be compared carefully with independent advice where needed. Unsecured borrowing on its own page →

V

Vacant possession #: A property being sold or transferred without occupants who have a right to remain. Occupancy rights must be checked; do not assume vacant possession is available. Vacant possession on its own page →
Valuation #: An assessment of a property’s value for a particular purpose. A provider may require its own valuation and may not use a homeowner’s preferred estimate. Read the full guide: What lenders and valuers assess about a property → Valuation on its own page →
Valuation fee #: A charge for a property valuation where the product or process requires one. Ask whether it is payable upfront, refundable or included in another charge. Read the full guide: Equity release fees, beyond the interest rate → Valuation fee on its own page →
Valuer #: A professional who assesses property value and may report on condition, marketability or special features. Their role is separate from the adviser’s role. Valuer on its own page →
Variable interest rate #: A rate that can change in line with the product’s stated mechanism. The product documentation explains how and when it can change; do not assume a lifetime mortgage is fixed or variable without checking. Read the full guide: How rolled-up interest works, with the arithmetic → Variable interest rate on its own page →
Voluntary payment #: A payment a customer chooses to make towards interest or capital when the plan allows it. The permitted amount, frequency and ERC treatment are set by the product terms. Voluntary payment on its own page →
Vulnerable customer #: A customer whose personal circumstances may make it harder to make an informed decision or to engage with a firm. Firms have duties to identify and support vulnerability appropriately. Source: Financial Conduct Authority Vulnerable customer on its own page →

W

Warning List #: An FCA list of firms and individuals it has warned about. Not appearing on the list does not prove a firm is genuine, so use Firm Checker and official contact details too. Source: Financial Conduct Authority Warning List on its own page →
Whole-of-market #: A description of the range of products or providers an adviser can consider. Ask what it means in practice, what exclusions exist and how the adviser is paid; it is not a statement that every product is suitable. Whole-of-market on its own page →
Will #: A legal document stating how a person wants their estate distributed after death. A will does not prevent secured borrowing from being repaid from relevant property proceeds. Read the full guide: Equity release and what you leave behind → Will on its own page →
Withdrawal #: Taking a sum from a drawdown facility. Minimum amounts, timing, rate and conditions can apply. Withdrawal on its own page →

How these definitions are written

These explain how the words are commonly used in the UK. They do not override a provider’s offer, your mortgage conditions, a solicitor’s advice or a regulator’s rules. Product features, age limits, charges and lender criteria differ between providers and change over time.

Where an entry is marked as coming from provider criteria, that is one provider’s published rule on one date. It is an example of how such a rule can be written, not evidence of what any lender would do in your case.

Sources behind this glossary

01 Equity Release Council · opened 6 September 2026 Consumer information and Standards (Equity Release Council)
02 RICS · opened 6 September 2026 Consumer guides (RICS)
03 MoneyHelper · not reopened Equity release guidance (MoneyHelper) We could not reopen this on 6 September 2026: the site refused our request. The link is published so you can go to it yourself, and no claim on this page rests on it alone.
04 Financial Conduct Authority · not reopened The Financial Services Register (Financial Conduct Authority) We could not reopen this on 6 September 2026: the Register is a JavaScript application and does not return a readable page to an automated check. It is a live public service and the link is correct.

What has changed on this page

6 September 2026 First publication. 279 entries, transcribed from the approved copy rather than rewritten, and sorted alphabetically within each letter.
6 September 2026 Sources reopened. The Equity Release Council and RICS pages opened and were confirmed. MoneyHelper refused the request and the FCA Register did not return a readable page to an automated check; both are marked as not reopened rather than given a date.

How this page is kept

Written by: Equity Release Facts editorial
Last checked: 6 September 2026
Next review: 6 March 2027

Checked 10 September 2026

[6.20%]lowest lump sum rate, fixed for life[lender rate sheets] [6.44%]lowest drawdown rate[lender rate sheets] 43.5%most you could release at 70LTV schedule, July 2026 54%most you could release at 80 or overLTV schedule, July 2026 55Legal & General's youngest applicantL&G lending criteria, 6 September 2026 £0to pay each month unless you choose tosubject to lender terms [6 to 8 weeks]typical time from application to money £70,000Legal & General's minimum for a houseL&G lending criteria, 6 September 2026

Questions people ask about this

Short answers to the things that come up most. None of it is advice, and every figure on this page carries its source.

How many terms are here?

Every term is on one page rather than on hundreds of thin ones, so your browser own find works across the lot and you can look up two words in the same sentence without going anywhere.

Where do the definitions come from?

They explain how the words are commonly used in the UK. They do not override a provider offer, your mortgage conditions, a solicitor advice or a regulator rules, and where an entry comes from provider criteria it is one provider published rule on one date.

Does looking something up here commit me to anything?

No. There is no form on this page and nothing to fill in. Somebody looking up what a word means is not making a decision.

Worth knowing

Equity release may involve a lifetime mortgage, secured against your property, or a home reversion plan. It will reduce the value of your estate and impact funding long-term care.

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