Property values have been increasing
The demand for property in the UK continues to outstrip supply. The average house in Britain will be worth £220,000 this year - up £9,000 on 2016.1 Whether you want to release equity, pay off your mortgage, reduce your bills, fund your retirement, change your lifestyle or buy another property, downsizing now could ensure you maximise the value that you release from your home.
No capital gains tax to pay
Most people downsizing from a larger, more expensive property to a smaller, less expensive one are exempt from capital gains tax if it is your main residence. That means all the equity that is released by downsizing your home is tax-free and can be used as you see fit.