Moving Home with Equity Release
Having an equity release plan doesn't mean you're stuck in your current home.
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. All plans recommended are from Equity Release Council approved lenders. Your home may be repossessed if you do not maintain required payments on a secured loan.
About Moving Home with Equity Release
All Equity Release Council approved lifetime mortgages are portable - you can move the plan to a new property, subject to the new property meeting the lender's criteria. If the new property doesn't qualify, Downsizing Protection allows repayment without early repayment charges after 3 years.
The options we compare
Porting the Lifetime Mortgage
Moving to a new property and taking your equity release plan with you - porting. The lender reassesses the new property. If it meets their lending criteria, the plan transfers to the new property. The loan balance carries over.
New Property Criteria
To port an equity release plan, the new property must typically be a standard construction freehold or leasehold with at least 70 years remaining, in good condition, and of a minimum value. The new property must meet the lender's current lending criteria.
Downsizing to a Lower Value Property
If you move to a less expensive property, the loan balance may exceed the lender's maximum LTV for the new property. In this case, partial repayment (of the excess) may be required to bring the loan within the new property's limit.
Downsizing Protection
If you have held your equity release plan for at least 3 years and the new property does not meet the lender's criteria (for example, a leasehold flat with short remaining term), Downsizing Protection allows you to repay the plan in full without any early repayment charge.
Selling Without Moving
If you decide to sell your home and not purchase a new one - moving into rented accommodation or care - the equity release is repaid from the property sale proceeds. Any remaining proceeds (after loan and interest repayment) go to you or your estate.
New Property and Additional Borrowing
When porting, if the new property is more valuable and you have more equity, some lenders allow additional borrowing at the same time as the port - releasing more equity from the new, more valuable property.
How We Help
New property assessment
We assess whether the new property meets your lender's porting criteria before you proceed with the property purchase.
Lender consent
We obtain lender consent for the port - required before exchange of contracts.
Coordination with conveyancer
The port must complete simultaneously with the property sale and purchase. We coordinate with your solicitor.
Port completion
The equity release transfers to the new property on the same day as the property transaction completes.
Speak to our later life lending specialists
Call 0204 6211776 · Whole-of-market advice across all later life products · FCA No. 814533
Frequently asked questions
Can I move home if I have equity release?
Yes - all Equity Release Council approved lifetime mortgages include a portability guarantee. You have the right to move your plan to a new property, subject to the new property meeting the lender's lending criteria. You cannot be forced to stay in your current property.
What if my new property doesn't meet the lender's criteria?
If the new property does not meet the lender's criteria - for example, a leasehold flat with a short remaining lease, or a property in very poor condition - and you have held the plan for 3 or more years, Downsizing Protection allows you to repay the plan without early repayment charges. If you have held the plan for less than 3 years, early repayment charges may apply.
Do I need to tell my equity release lender if I want to move?
Yes - you must inform your equity release lender before selling your home. The lender will confirm whether the new property meets their criteria for porting or whether Downsizing Protection applies. Selling your home without informing the lender would trigger full repayment as the property securing the loan has been sold.
Can I increase my equity release when I port to a more valuable property?
In many cases, yes - if the new property is more valuable, the equity available is higher, and some lenders allow additional borrowing at the time of the port. This must be agreed with the lender before the port completes.
What happens if my equity release balance is greater than the new property value?
This should not occur if the no negative equity guarantee has been maintained. If you downsize to a significantly less valuable property, partial repayment may be required at porting to bring the balance within the new property's maximum LTV. This would be confirmed during the lender's port assessment.