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What the others have said, there are companies that specialise in it for the retired, it's fairly common way to fund care, you are in effect selling a portion of your house when you die for money now. There has been bad press about it as some fairly rogue actors taking advantage of people in tough circumstances.
Also hated by those who thought they were going to inherit a house and now get less than they think they deserve.
greentricky
Release equity where and how? They are already in the smallest house they can be in their area. Are you talking forced deportation to other areas of the country?
It's just their "luck" to have a home now worth what it is. They also couldnt afford the fees and stamp duty to move.