Equity Release Advice in Street
Equity release lets homeowners aged 55 and over in Street access some of the money tied up in their home, without selling or moving. Whether you want to top up your retirement income, help family, or clear a mortgage, this plain-English local guide shows how it works and the risks that genuinely matter.
The introduction costs you nothing. If you go ahead, we may be paid a fee by the firm we introduce you to.
For many homeowners in Street, most of their wealth is tied up in their property. Equity release is one way to access some of it in later life, but it is a significant, lifelong decision, and it is not right for everyone. Here is the honest local picture.
The equity release picture in Street
The town has an unusually good range of shopping for its size, thanks to Clarks Village and the High Street, alongside supermarkets and everyday services, and the Strode Theatre for culture.
Local property values matter here, because how much you can release depends on your home's value, your age and the product.
Downsizing in Street, the alternative worth weighing first
Before releasing equity from your home, it is worth looking at downsizing, moving to a smaller or less expensive property frees up cash without taking on a lifetime mortgage or any interest roll-up. Roughly speaking, the difference between what your current home is worth and one of the options below is what a move could release in Street.
| Budget in Street | What it typically buys |
|---|---|
| Around £160,000–£280,000 | Typically a flat or a terraced/ex-Clarks home, the most accessible way into the market, popular with first-time buyers. |
| Around £300,000–£370,000 | A comfortable semi or family house across the town, the heart of the local market. |
| £420,000 and above | Larger detached homes, including some near Millfield, and the best village positions. The premium end of the market. |
Downsizing is not right for everyone. Moving costs, stamp duty, and leaving a home full of memories all matter. But for some it releases more than equity release would, with no debt. A good later-life adviser will compare both routes with you.
Where Street is
Retiring in Street
Street has a strong civic and community tradition, a legacy of its Quaker founders, and its affordability and amenities make it a practical, family-friendly place to live, right next to Glastonbury and the Tor. The town has an excellent range of everyday and outlet shopping, supermarkets and services for its size, with GP surgeries in the town and the community hospital at neighbouring Glastonbury, though GP and dental registration availability changes over time.
For many, equity release is about staying in the Street home and community they love while freeing up some of its value, which is exactly why weighing the alternatives, and taking regulated advice, matters.
Retiring in Street: the honest view
- Relatively affordable for the area
- Famous Clarks Village outlet shopping
- Good schools including Millfield
- Strong civic and community heritage
- Right next to Glastonbury and the Tor
- The Strode Theatre and Greenbank pool
- No railway station (nearest Castle Cary, ~14 miles)
- No A&E (nearest at Yeovil or Taunton)
- Somerset Levels flood risk on the low ground
- A practical working town, not chocolate-box
- Clarks Village crowds can make the town busy
- Older/ex-industrial homes can need surveys
A little about Street
How equity release works
Talk it through
A free, no-obligation chat about your home, your plans and whether equity release could suit you.
Meet a specialist adviser
We introduce you to a carefully selected, FCA-regulated equity-release adviser.
Get a personalised illustration
They set out exactly what you could release, the interest, the fees and the alternatives, in writing.
Decide in your own time
Independent legal advice is required, and you are never under any pressure to proceed.
The risks, please read this first
Equity release is well protected today, but it is a lifelong commitment with real trade-offs.
The interest rolls up. Unless you pay it
Choose to make no payments and the interest compounds, so the debt grows. At an interest rate of 6.5% a year it roughly doubles in about 11 years. But many modern plans let you pay some or all of the interest, or make voluntary repayments, to slow or stop the roll-up and leave more in your estate.
It reduces your estate
There is less to leave behind.
Means-tested benefits
Releasing cash can affect entitlement to benefits like Pension Credit. This must be checked before you proceed.
Early repayment charges
Repaying the plan early, including if you move home sooner than expected, can trigger an early repayment charge. Ask what yours would be before you sign.
Who it suits, and who it doesn’t
- Asset-rich but income-tight in retirement
- Wanting to stay in your home, not downsize
- Helping family or clearing a mortgage in later life
- Leaving a full inheritance is a priority
- You would be happy to downsize instead
- You rely on means-tested benefits
Life in Street, the home you want to stay in
A quick sense of Street, the place equity release could help you go on enjoying.
Clarks Village
Clarks Village, the popular outlet shopping centre on the old Clarks factory site, with over 90 brands, the town’s biggest draw, bringing shoppers from across the region.
The Shoe Museum & Clark heritage
The story of Clarks and the Quaker family who shaped the town, told in the Shoe Museum and written across its civic buildings.
Strode Theatre
The well-regarded Strode Theatre and cinema, attached to Strode College, a real cultural asset for a town this size.
Glastonbury & the Tor
Neighbouring Glastonbury, with the Tor, the Abbey and the unique high street, is effectively next door, a wealth of days out.
Greenbank Pool & green space
The historic open-air pool given to the town by the Clark family, and green space and walking on the doorstep.
The Polden Hills & the Levels
Walking, cycling and views over the Somerset Levels from the Polden Hills just west of the town.
Check broadband before you make an offer in Street
Broadband speeds can vary street by street in Street, so check the exact address before you commit. Ofcom's free checker shows which broadband speeds and mobile coverage are available at any UK property.
Check broadband at an address (Ofcom)
Want all your bills in one?
We can introduce you to a specialist who can combine your mobile, broadband and utilities into one bill. There's no fee for the introduction.
We don't provide these services ourselves. Switching household bills is not a regulated financial service, so FCA protections and the Financial Ombudsman do not apply. We'll only pass your details to the specialist if you ask us to. See our privacy notice.
Common questions
Will I still own my home?
Is equity release safe?
Does it affect my benefits or tax?
Should I downsize in Street instead?
Do you charge for the introduction?
How do I check broadband speed at a property in Street?
We are an introducer, not an equity-release adviser.
Related guides
Planning your later-life finances in Street? These may also help.
More money guides for Street: Mortgage advice in Street · Equity release explained · Contact us
Short reads that work through the local numbers. No sales pitch.