If you sell all or part of your home to a home reversion company, you cannot change your mind.

• Is raising a mortgage the right choice for you? Would moving to a less expensive property be a better way of releasing money tied up in your home? Do you have other nest eggs, investments, or savings you can use? 
• Choosing a later-life mortgage will affect you over the long term. You need to be happy with the arrangements and be confident that it suits your circumstance both now and in the future.
• These days, people are living longer. If you take out an equity release mortgage too early in life, you may not have enough value in your home to move to another property later. 
• Using the equity in your home will affect the amount you are able to leave as an inheritance, so we strongly recommend that you discuss this with your family and/or the beneficiaries of your will. It is also a good idea to make sure that your will reflects your decision to take out an equity release mortgage. 
• Consider the effect that any lump sum or income you receive may have on any state benefits you receive. You should also remember that the rules on state benefits could change in the future. 
• If the purpose of releasing money from your home is for home improvements, you may have the ability to fund it via a grant from your local authority, so you should consider that option first before entering into a mortgage. 
• If you are looking to consolidate any debt you may have, you should in the first instance take specialist advice or talk with your local Citizens Advice Bureau before entering into an equity release mortgage or home reversion scheme.
• Releasing funds from your property should be considered in conjunction with your income in retirement and any plans you have for long-term care. 
• With any mortgage, you can usually repay the amount you owe at any time, but the lender may take an early repayment charge. 

To understand the features and risks associated with such products, you should always ask for a personalised illustration.