I suggest you get independent actuarial advice and that you consider the information here purely as a starting point. This is an issue that is beyond the skill set of most posters here.
General concencus is that S.H.I.P and all similar equity part selling are very bad value for money propositions - for the consumer of course!
Better to downsize if possible.
Do a search for "SHIP", "RRL" and/or "reversion" and you should find some relevant discussions on the whome area of SHIP and related products.
SHIP is a brand name and is a type of equity release/residential reversion product for older home owners. There are other comparable products under different brands on the Irish market.
I would echo what Ric says above about getting independent, professional advice in this area but would not be so quick to dismiss the possible useful information that you might obtain here on AAM.
Hi Dualtha, I would suggest downsizing as my wife and I are doing. To my mind ,we will have a nice sum to supplement pension AND equity in the new house which should appreciate in value in the normal way.