A lifetime mortgage is the most common type of equity release plan and typically secured against your home. 

The lifetime mortgage is designed to run for the lifetime of the homeowner and property remains 100 per cent in your name.
This is a type of equity release plan where a home owner takes out a mortgage secured on their home whilst retaining ownership. The home owner continues to live in the property and usually does not have to make any repayments. 

Depending on property age and value you can normally borrow up to 60% of the property value and when you die or move in to long term care the property is sold to repay the loan plus any interest accrued over the period of the plan.