Are you a homeowner looking for ways to boost your finances? If so, equity release might just be the solution you’ve been searching for. This financial option allows you to
Remortgage or Switch Your Existing Mortgage and Release Cash/Equity up to €100,000
Benefits Summary:
🔹 Remortgage and release equity for the following reasons;
✅ Debt Consolidation
✅ Home Improvements
✅ Medical expenses
✅ Education costs
✅ Funding deposit for another property
✅ Buying out an ex-partner’s ownership of a property as part of a separation/divorce agreement
✅ Helping your children with a deposit to purchase their own property.
🔹 Competitive rates available
🔹 Apply online and get approval within 48 hours
🔹 40-year terms available
🔹 Can lend to applicants 80th birthday
🔹 Also available on buy-to-let properties
If you need funds for home improvements, education costs, or simply want to reduce your monthly outgoings, a Equity Release Mortgage could be the solution. This allows you to borrow against the value you’ve built up in your home, without selling or moving.
What Can You Use the Funds For?
There are many approved reasons to release equity from your home. Whether you’re planning renovations, covering medical or education expenses, or helping a family member with a deposit for their own home, this flexible option puts you in control. It’s also ideal for managing inheritance tax liabilities, separation-related costs, or even as a deposit on a second property or holiday home. Some homeowners also choose this route to consolidate short-term loans and lower their monthly repayments.
Do You Qualify?
🔹 You must have equity in your home
✅ The property’s market value must exceed the outstanding mortgage
✅ Typically, within an 80% loan-to-value (LTV) ratio
🔹 A clean credit history over the past five years is required
How Much Can You Access?
🔹 Release up to €100,000 with minimal paperwork
🔹 For amounts over €100,000:
✅ Self-certified cost estimates required
✅ Planning permission needed if structural work is involved
How Much Can You Access?
🔹 Completed salary certificates
🔹 Recent payslips
🔹 Six months of bank statements
🔹 Six months of loan statements
🔹 If borrowing over €100,000:
✅ Quotations for proposed works
✅ Planning documentation for proposed works
💡 Watch These Real-Life Scenarios on YouTube
Example:
How One Couple Unlocked €75,000 from Their Home—Without Touching Their Savings
John and Mary, both teachers with a combined income of €100,000, own a home valued at €350,000. With a mortgage balance of €200,000, they have €150,000 in equity. By remortgaging for €225,000, they clear their existing loan and free up €75,000 in cash. They can now renovate their home, support their children’s education, help with a second property purchase, or reduce debt— all without dipping into savings.
Example:
Turning Equity Into Opportunity: A Smart DivorceSettlement Solution
Tommy and Jane have recently decided to divorce. They are both joint owners of their family home which has a current market value of €400,000 and a mortgage outstanding of €100,000.
As part of their settlement agreement, Jane is going to stay in the family home with their 3 children and Tommy is going to move out.
Tommy will remove himself from owning the property if he receives €100,000 compensation payment from Jane.
Jane remortgages the property for €250,000 using an equity release mortgage. With this new mortgage she clears the old mortgage balance, pays Tommy his €100,000 as part of the settlement and uses the remaining €50,000 to renovate the family home…
Example:
Remortgage & consolidate all loans into one to reduce your total monthly loan repayments & free up some cash flow.
Meet James and Elaine. They are both civil servants in their early 50s, working full time, and have 3 dependent children. They are struggling with cash flow issues due to high monthly loan repayments as well as paying for their children’s college education.
Their current home has a market value of €350,000, a mortgage balance outstanding of €150,000 with monthly repayments of €1,500. They took out a home improvement loan last year to retrofit their home with loan repayments of €500 per month. They also have an outstanding personal loan with monthly loan repayments of €250. Their total monthly loan obligations from all loans equal €2,250.
To reduce monthly outgoings for a few years until their children have finished college, they decided to remortgage their house and consolidate all of the loans into one mortgage. By doing this, they reduced their monthly outgoing from €2,250 per month to €1,850 per month. This leaves an extra €450 per month for James and Elaine to help pay bills and ease some cash flow issues they are facing.
They plan to restructure their mortgage in a few years’ time again, when their outgoings have significantly reduced due to their children finishing college. At this stage, they feel that they will be able to afford higher monthly loan repayments and can clear their mortgage earlier, ideally before they retire.
Example:
Remortgage and release cash for a house extension to generate an additional income stream.
Meet Sean & Michelle, they own a home with a market value of €440,000 and a mortgage balance remaining of €170,000. They live beside a University and were constantly getting enquiries about providing accommodation to college students due to severe accommodation shortages in their area.
They decided to build an extension at the back of their house and rent this out to students, generating an additional income of €14,000 per year.
The extension cost a total of €75,000. To fund this extension, they remortgaged their existing property and released equity to pay for this extension.
Their mortgage repayments increased by €250 per month / €3000 annually; however, they are now receiving recurring cash inflows of €14,000 annually from renting out their new extension to students.
Ready to Explore Your Options?
Let your home work for you. Whether you need funds for a specific goal or want financial breathing room, a Top-Up or Equity Release Mortgage could provide the flexibility you need.
Contact us Today
Money Maximising Advisors Limited is regulated by the Central Bank of Ireland.
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