How downsizing to a park home stacks up against equity release schemes

Downsizing versus equity release…

When it comes to funding retirement, people often turn to their largest asset, the family home. They can choose between downsizing to a smaller, more manageable property and enjoying the equity, or using an equity release loan scheme. These are ways to release cash from your home without having to move.

This is, of course, a big decision to make, especially as the latter can diminish any inheritance you may be planning to leave in your estate.

The cost of equity release schemes has increased significantly in recent months. In fact, according to a recent report in The Times (15 October 2022), the average interest rate on these loans is 7.54 per cent (up from 4.18 per cent in January 2022), meaning that any debt would double every nine and a half years!* As well as diminishing the value of your estate, equity release schemes can also affect any benefits you receive or become entitled to in the future.


How much money can you release by downsizing?

The average price of a detached house in the UK was £457,552 in July 2022* whereas the prices for new and pre-owned park homes listed on the Quickmove website range between £70,000 to £400,000. If you own your home outright and bought it over 20 years ago when house prices were 156 per cent cheaper*, you could release considerable equity when downsizing to a residential park home. In fact, Quickmove has found that, on average, our customers release £100,010 in equity when downsizing to a park home using our property part exchange scheme (October 2021 survey).


Tom and Marlene Tomkins used Quickmove’s part exchange service to help them downsize to their park home in Tewkesbury. They said: ‘The offer on our home and the property we were buying completely met our needs and, even better, we didn’t need to pau legal costs, which are covered by Quickmove. We wanted a stress-free move and that’s exactly what Quickmove gave us’.


How much could YOU receive?

To request a free, no-obligation part-exchange valuation from Quickmove, or to find a park home for sale in your preferred area, call 0800 328 2168 or email
We recommend home owners seek financial advice before considering selling their property or using an equity release scheme.

*Reference: The Times (15/10/22)

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