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When it comes to equity release, we all have questions.
What, for instance, is it exactly?
Equity release is a way for homeowners over 55, whose property is worth at least £70,000, to release tax-free cash from their homes. It is an increasingly popular way for people in, or approaching, retirement to boost their finances.
And will we still own our home?
Yes – and with Key’s plans you can stay in it for as long as you like.
Will we have to make monthly repayments?
No, not unless you want to. The loan, plus rolled-up interest, will be paid back when your plan comes to an end.
Could our family inherit the debt?
No – all of Key plans come with a ‘no negative equity’ guarantee, so you’ll never owe more than your home is worth and there’ll never be a debt for your family to take on.
How much can we release?
This depends on your age, how much your house is worth and your general health. On average, Key customers have had access to £90,000.
What do people usually use the money for?
Key customers spend the tax-free cash on many different things, such as repaying existing debts, travel and home improvements.
Is equity release safe?
Yes. You need to receive qualified advice before committing to equity release, which is exactly what you get from Key. We are members of the Equity Release Council and authorised and regulated by, the Financial Conduct Authority.
So, what’s different about Key?
Because Key takes a personal and honest approach to equity release, we can answer all your questions. We have helped more than a million people decide if equity release is right for them and if it’s not right for you, we’ll tell you. And if it is, then we’ll take the time to understand your needs so we can recommend the right solution for you. And, what’s more, all of our advice is free of charge.
OK, how do we find out more?
Try our free online calculator or order your free myth-busting guide, both of which you can find online at keyadvice.co.uk.
To safeguard your health, our expert equity release advice is now available over the phone, via video appointment or face-to-face, whichever is right for you. If you're interested in finding out more about equity release, please get in touch either online or by calling us on 0808 252 9170. Click here for more info.
Not sure what mortgage is right for you?
To release equity from your home, this typically involves taking out a form of mortgage product. Our later life mortgage finder helps you consider your options. From a lifetime mortgage to a retirement interest only mortgage, with low rates of interest available, now could be a good time to get in touch.
Our equity release advice is unique to you, delivered by qualified experts, who will take the time to understand your needs. They'll search our product range to ensure they recommend the right plan for you.
During your appointment, we'll ensure you consider your options including downsizing or using other forms of borrowing, and, if equity release isn't right for you, we'll tell you.
There's no pressure to go ahead. Your adviser will give you all the information you need about equity release for you to make an informed decision in your own time.
All of our equity release advice relates to our range of Key branded products and is completely free of charge. So, you can find out if it's right for you without it costing you a penny.
What is equity release?
Equity release is a way for homeowners aged 55 or over to release tax-free funds from their homes without having to move. It is an increasingly popular way for people in, or approaching, retirement to boost their ﬁnances.
We chose key for equity release as we had heard good reports about them and the advert on the TV gave us the push to go ahead with it. After consulting with our children who all agreed it would help with home improvements we wanted to do it became a no brained.
Key were amazing we were told from start to finish what was happening every question...
Janet Marion Gibbs
Key were fantastic, after an initial consultation they recommended the best option available to us to achieve our goals.
There is no pressure selling, all discussed in a relaxed manned, so no rush.
They then give you time to consider everything and finally decide what you want to do.
The process is fully explained and your taken through it step...
We had a fantastic journey with Key from start to finish. Everything was explained at each stage about our equity release lifetime mortgage. It was 3 and a half months from start to finish, so it’s important to plan that timescale into the equation.
Great service from everyone. Everything explained clearly (pro's and con's), calls made at times agreed. Would use them again anytime (in fact, I did - I used them a few years ago regarding my pension and they were great then, too!)
Alex was superb start to finish
You're in safe hands
All of our plans meet the Equity Release Council standards.
With our plans:
You have the right to remain in your home for as long as you choose, or until you move into full time residential care
You have the freedom to move to another property without financial penalty (subject to criteria)
You will never owe more than the value of your home with the no negative equity guarantee
Key are proudly rated 5 stars on Trustpilot by over 16,000 of our customers
Use our free calculator
Find out how much tax-free cash you could release from your home now with our equity release calculator
Key Equity Release offer lifetime mortgages only, which is a loan secured against your home. Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits.