Are you looking to boost your monthly income and thinking of releasing equity. Before you consider equity release think about letting out a room if you have a spare bedroom. The rent you earn can help you with your income shortfall so you may not need to release equity after all. Renting a room can give you up to £7500 a year tax free income at the moment, ( 2020) therefore definitely something to consider if you are open to living with a stranger and sharing your house.