Equity release is a financial solution that enables house owners to unlock the value of their real estate without needing to sell it. It works by allowing people over the age of 55 to borrow money against their home, with the loan being secured against its value. The amount borrowed can then be used for whatever purpose they choose, such as home improvements or holidays. Equity release products are typically offered on an interest-only basis and require no monthly repayments until after death or moving into long-term care, at which point the loan plus any accrued interest must be repaid from either sale proceeds of the property or other funds.