Moving Made Easier: How Family Wealth Can Help Fund Your New Life in the South West

Relocating to the South West, is often about more than just finding a house; it’s about securing a better lifestyle, with great schools, more space, and long-term value. But in today’s financial climate, even high-earning families can find the move challenging.

In this guest blog, Guy Olson of The Equity Release Partnership explains how equity release is helping parents and grandparents support these life-changing moves, turning family wealth into a powerful tool for funding property purchases, school fees, and a fresh start.

Guy tells us - "For many professionals relocating from London or overseas to areas like Bath, Wiltshire or South Gloucestershire, buying the right home isn’t just about ticking boxes , it’s about making a lifestyle leap. You’re investing in schools, space, and quality of life. But with higher interest rates, hefty property prices, and now the added pressure of VAT on private school fees, funding the move can feel like a stretch, even with a strong income.

That’s where family support, often powered by equity release, is quietly transforming how people make big property decisions.

The Bank of Mum, Dad… and Grandparents

We’re seeing more and more clients receive financial gifts from parents and grandparents to help with the upfront costs of moving, and not just for first-time buyers. In fact, many buyers in their late 30s and early 40s still need help bridging the gap when moving up the ladder or relocating to areas with higher-value homes and desirable school catchments.

But where does this money come from?

For homeowners aged 55 and over, equity release - specifically lifetime mortgages - can allow access to the value tied up in their homes, without selling or moving. These tax-free funds can then be gifted to children or grandchildren, helping them with:

• Deposits or mortgage top-ups

• Stamp duty and other moving costs

• Renovations or improvements once they’ve moved in

• Private school fees, now facing an additional 20% VAT from 2026

Making Gifting Work

Gifting from equity release is already a well-trodden path. And when done thoughtfully, it can be tax-efficient too.

Parents or grandparents often want to “give with a warm hand”, helping their children while they’re raising families and facing the full force of modern life’s costs. Equity release can be a way to do this without disturbing investments, triggering capital gains, or compromising lifestyle.

Let’s say your parents own a £600,000 home with no mortgage. They could release, for example, £100,000 to help cover your purchase costs, either as a lump sum or in stages. Depending on the plan, they might choose to repay the interest (to keep the final loan smaller), or let it roll up.

It’s flexible, regulated, and increasingly popular. In 2024 alone, over £3 billion was released this way across the UK.*

A Smarter Way to Handle Stamp Duty

Stamp duty is a serious expense in the South West, especially when buying homes priced above £500,000, which is common in places like Bath or Bradford-on-Avon. It’s often a hidden pressure point. By using equity release to gift this specific amount, parents can give targeted help, without their children having to stretch themselves or drain savings.

This approach can also help buyers keep more cash aside for renovations, energy efficiency upgrades, or simply settling into their new home without financial stress.

The School Fee Crunch: VAT and Beyond

With 20% VAT now being charged on private school fees the costs are increasingly causing concern. For a child with fees of £18,000 a year, that’s an extra £3,600 per year, per child.

Families moving into the region are often doing so with education in mind. But now, long-term planning around how to afford this commitment is vital.

Equity release can again play a part here, by providing a structured drawdown facility that pays out each term, or by funding a dedicated pot now to cover several years of fees. For grandparents, this is a popular legacy strategy: helping ensure their grandchildren’s education while reducing the value of their estate for inheritance tax purposes.

It’s Not Just About the Money - It’s About Confidence

Buying a home is always emotional. Add a move from London or overseas, children, jobs, and deadlines, and you’ve got a pressure cooker. Knowing there’s a family safety net, and that it’s accessible, can make a big difference to decision-making.

The key is getting advice early. Equity release isn’t for everyone, and it needs careful planning. But when used well, it can unlock options that might otherwise feel out of reach.

Otters Home Search can help you find the perfect property. The Equity Release Partnership can help you figure out how to make it happen, with the support of your family, and without overstretching your finances."

About the Author

 Guy Olson – Managing Partner – The Equity Release Partnership

Guy is a later life financial specialist with a background in equity release and wealth planning. He works closely with solicitors, accountants, care providers and financial advisers to help clients make smart, practical decisions about their finances – whether that’s funding care, supporting family, or navigating the financial challenges of later life. Guy is a member of the Society of Later Life Advisers (SOLLA) and the Equity Release Council and brings a clear, down-to-earth approach to complex financial topics.

Email: guy.olson@equityreleasepartnership.co.uk

Mob: 07583 992335

Tel: 0333 050 9944

A Lifetime Mortgage is a loan secured against your home. The loan, plus interest is repaid when the last borrower dies or moves into long term care. To find out more, talk to us today.  This is a lifetime mortgage. To understand the features and risks, please ask for a personalised illustration. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice.”