Updated October 2026 · Fraser Bond
Homeowners · Later life
Alternatives to equity release
Downsize& free cash
RIOmortgages
Renta room
Takeadvice
In short: Equity release lets older homeowners unlock cash from their home, but interest rolls up and reduces what's left for the estate. Alternatives include downsizing to a smaller home, a retirement interest-only (RIO) mortgage where you pay the interest monthly, renting out a room tax-free up to £7,500 a year under Rent a Room relief, help from family, or council grants for repairs and adaptations. Speak to a regulated adviser before deciding.
Downsizing
Release equity and cut running costs.
RIO mortgage
Pay the interest; the loan is repaid on sale or death.
Rent a Room
Up to £7,500 a year tax-free.
Grants
Councils may help with repairs and adaptations.
Frequently asked questions
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Is downsizing better than equity release?
Often, if you're happy to move.
What is a RIO mortgage?
An interest-only mortgage for later life.
Thinking of downsizing?
Talk to our team or get a free valuation.
Speak to our teamGet a free valuation
