It comes as rates on the retirement loans have increased to more than 9% in some cases, mirroring wider increases in the cost of mortgage borrowing across the whole market.
Equity release allows over-55s to take a tax-free lump sum from the value of their home - but the type of plan they choose will affect how much money they can access and when, as well as the interest owed.
Are equity release rates fixed for life, and if rates drop in the future can borrowers switch to a better deal? Age Partnership+ advisor Andrew Morris answers.
We are finding it harder to meet our mortgage payments now we are not working, but still have three years on the term. Could equity release help us clear it?