Residential park home specialists Quickmove Properties on how downsizing to a park home stacks up against equity release schemes

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 a way 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 (15/10/22), the average interest rate on these loans is 7.54% (up from 4.18% in January 2022), meaning that your debt would double every nine and a half years!* As well 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 average park home price listed by Quickmove can range anywhere from £70,000 to £400,000. If you own your home outright and bought it 20 years ago when house prices were 156% cheaper*, you could release considerable equity when you downsize to a residential park home. In fact, Quickmove have found that on average, their customers release a staggering £100,010 in equity when they downsize to a park home using their property part exchange scheme (October 2021).

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 pay legal costs which are covered by Quickmove. We wanted a stress-free move and that’s exactly what Quickmove gave us’.

To find out how much you might receive by downsizing, request a free, no-obligation part-exchange valuation from Quickmove, call 0800 328 2168, email or visit

Quickmove recommends homeowners seek financial advice before considering selling their property or using an equity release scheme.