As a homeowner in Devon, you may be exploring ways to unlock the value of your property. Equity release for Devon homeowners provides a solution to access this wealth without having to sell your home. In 2025, the market will have evolved, offering more flexibility, protection, and opportunities than ever before.

At Conran Mortgages, we guide you through this process with expert advice and personalised solutions. For any queries, you can reach us via hello@conranmortgages.co.uk or by calling 020 8528 2251
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“Unlock the value tied up in your Devon property with confidence. We provide expert guidance for homeowners considering equity release, helping you plan your future securely.”

Understanding Equity Release In 2025

Equity release allows homeowners aged 55 and over to access the equity in Devon without moving. The two main types of products are:

Lifetime Mortgages – These are loans secured against your property, with repayment of the loan and interest deferred until death or permanent care placement.

Home Reversion Plans – Here, you sell part or all of your home to a reversion company in return for a lump sum or regular payments, while retaining the right to live in your property.

In 2025, the equity release market has seen a steady resurgence. According to the Equity Release Council, older homeowners accessed £636 million in Q2 2025, reflecting a 10% increase from £578 million in Q2 2024. This growth signals renewed confidence among Devon homeowners considering unlocking the value of their property.

New Trends In Equity Release For Devon Homeowners

Increased Borrowing Amounts

More homeowners are choosing to release larger sums. In Q2 2025, the average lump sum taken by new mortgage customers rose to £126,422, up 14% from £110,969 in Q2 2024. This indicates a trend where homeowners are using equity release to fund lifestyle needs or consolidate debts responsibly.

Enhanced Consumer Protections

The Equity Release Council introduced Standards 2.0 in May 2025, improving consumer protections. Early repayment charges are now waived if a borrower moves permanently into long-term care, including care provided by relatives, provided a medical practitioner’s certificate is supplied. These updates demonstrate the market’s commitment to safeguarding homeowners while offering financial flexibility.

Competitive Interest Rates

Interest rates in the equity release market remain competitive, giving homeowners better value. However, rates vary depending on individual circumstances, so consulting an expert ensures you secure the most suitable option.

Updated Rules And Lending Limits

Equity release Devon homeowners must consider updated rules and lending limits. The amount you can borrow depends on your age, health, and property value. Understanding these changes in the equity market is crucial for planning effectively. Consulting a qualified advisor helps ensure you stay within lending limits and make decisions aligned with your long-term goals.

Future Planning Tips For Devon Homeowners

Planning ahead is essential for anyone considering equity release. Here are some future planning tips to consider:

Assess Your Long-Term Needs – Think about how releasing equity will impact your financial stability, especially concerning potential care requirements.

Seek Professional Advice – Engage with financial and legal advisors to understand your options fully.

Discuss With Family – Including family in discussions ensures transparency and avoids potential disputes.

Monitor Market Changes – Staying informed about the latest lending conditions and product developments helps you make confident choices.

Changes In The Equity Market

The equity release market continues to evolve. With more products and flexible options available, Devon homeowners are increasingly using property wealth to fund retirement needs. Recent research shows that 28% of older adults plan to access property wealth either through downsizing or equity release.

Understanding these changes in the equity market helps homeowners make informed decisions about their financial future. Whether you plan to supplement retirement income or fund home improvements, keeping track of market trends ensures you choose the right product for your needs.

Using Equity Release To Buy A Second Property In Devon

Equity release can also be used to fund the purchase of a second property, though this requires careful planning. Considering the implications for your finances and future estate is vital. To explore this option further, read our dedicated guide: Can You Use Equity Release to Buy a Second Property in Devon?
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Frequently Asked Questions

What Is The Minimum Age For Equity Release?

The minimum age for equity release is typically 55. Some products may have different requirements, so it’s important to check each option carefully.

Will Equity Release Affect My State Benefits?

Equity release can affect means-tested benefits. Consulting a financial advisor ensures you understand the potential impact on entitlements.

Can I Move House After Taking Out Equity Release?

Yes, you can move, but your new property must meet the lender’s criteria. Discuss your plans with your advisor to confirm eligibility.

Conclusion

Equity release provides a practical option for Devon homeowners looking to unlock the value of their property. With updated rules, consumer protections, and a growing market in 2025, the environment is favourable for accessing property wealth responsibly.

At Conran Mortgages, we combine expertise, personalised guidance, and trusted advice to help you make informed decisions. Contact us today at hello@conranmortgages.co.uk or call 020 8528 2251 to discuss your options. Start planning your financial future with confidence.