Equity Release for Home Improvements
Home improvements are the most common use of equity release in the UK - 21% of all equity released in 2025.
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What happens next
- Fill in the form (2 minutes).
- We'll match you with the right specialist for your situation.
- A specialist independent broker will contact you to discuss your options.
Important: Equity release is a long-term commitment and will reduce the value of your estate. It may affect entitlement to means-tested benefits. Independent financial and legal advice is required. The specialist brokers we work with source plans from Equity Release Council approved lenders. Your home may be repossessed if you do not maintain required payments on a secured loan.
About Equity Release for Home Improvements
From a kitchen renovation to a full extension, ground-floor adaptation for mobility, or garden redesign - equity release provides tax-free cash to improve your home without monthly repayments or depleting savings.
The options available
Lump Sum for a Single Project
If you know exactly what the project will cost, a lump sum lifetime mortgage releases the required amount upfront. Interest accrues on the full amount from day one - use when you need all the money immediately.
Drawdown for Staged Projects
For phased improvements - kitchen now, extension next year, bathroom the year after - a drawdown plan releases only what you need each stage. Interest only on drawn amounts significantly reduces the total cost of the equity release.
Mobility Adaptations
Stairlift, wet room, level-access shower, ground-floor bedroom conversion, wider doorways - adaptations that allow you to stay in your home as mobility changes. Often the most compelling use of equity release in later life.
Extensions and Structural Work
Single-storey extension, loft conversion, or major structural improvement. Equity release provides the full budget - a builder quote is useful to confirm the amount needed before application.
Energy Improvements
Solar panels, heat pump, insulation, and energy-efficiency upgrades. These improve living standards and may increase property value - improving the equity position over time.
RIO for Home Improvements
If your income can service monthly interest payments, a Retirement Interest Only remortgage (to a higher balance) can also fund home improvements - preserving more equity than a lifetime mortgage. A specialist adviser can explain both.
How It Works
Project cost and scope
Tell us the planned improvements and total budget. We then introduce you to an equity release specialist who is qualified to advise you on lump sum vs drawdown based on your project timing.
Equity available
The specialist establishes how much equity is available for your age and property value and the most cost-effective way to access it.
Lender comparison
Aviva, Legal & General, Just, Canada Life, More2Life - the specialist can compare rates and structures for your specific purpose.
Completion and project
Funds released at completion. No restrictions on how the money is spent on your property.
Speak to our later life lending specialists
Call 0204 6211776 · Introductions to later life lending specialists
Frequently asked questions
Is equity release a good way to fund home improvements?
For homeowners who cannot afford monthly loan repayments and do not want to deplete savings, equity release is an effective way to fund home improvements - particularly for larger projects. The key consideration is the long-term cost of interest roll-up. For smaller projects or for clients with income, a remortgage to a higher balance (interest-only or RIO) may be more cost-effective.
Do I need planning permission for improvements funded by equity release?
Equity release does not require planning permission - but the improvements themselves may. Standard building regulations apply regardless of how the project is funded. Planning requirements should be confirmed before the equity release application if the works will materially change the property's structure or use.
Will home improvements increase my property value and allow me to release more?
Improvements that increase property value can increase the equity available for future equity release. However, it is not straightforward to re-release immediately after improvements - a new valuation is needed and the lender must approve further advances. This is possible with most ERC-approved lenders.
Can I use equity release to pay for care home adaptations?
Yes - adapting the home to avoid or delay a care home move is one of the most compelling uses of equity release. Stairlifts, walk-in showers, ground-floor bedroom and bathroom - these adaptations can allow independent living for many additional years. The cost of adaptation is typically far lower than care home fees.
Is a drawdown plan always better than a lump sum for home improvements?
Drawdown is better for phased projects because interest only accrues on drawn amounts. Lump sum is better when you need the full project budget available immediately - for example, when paying a builder on commencement. A specialist adviser can recommend the right structure based on your project timing.