To release equity, you must be 55 or over. As equity release usually involves taking out a loan secured against your home, you usually need to be living in it. Different lenders will apply other conditions too. They’ll probably look at:
The size of your mortgage
The value of your home
Whether it’s a house, a flat, or just a studio or bedsit
Its location within or beyond the UK
What sort of condition it’s in.
Some types of property, like homes with private water supplies, with thatched roofs, with more than 15 acres of grounds or with livestock, may be more difficult to release equity against.