We believe later life is for the opportunities yet to be discovered, the horizons yet to be explored, and the memories yet to be made. Whether you want to clear existing debts, help out family, stay in the home you love or simply boost your retirement finances, our specialist mortgages and advice could help you live the later life you deserve.
Equity release allows homeowners to unlock tax-free cash from the value of their home. At Key, the type of equity release we offer is a lifetime mortgage which is a loan secured against your home. Our range of plans enable you to personalise the features and protections so you could unlock a better later life.
We offer a range of residential mortgages, a loan secured against your home, designed for people aged 55 or over. Whether you’re looking to remortgage, release additional funds or even buy a new home, there could be a retirement interest-only mortgage or capital and interest repayment mortgage that works for you.
Through our wills and lasting powers of attorney service, you can take control of your future and beyond, and ensure those around you know exactly what you want. You can take comfort in knowing your affairs are in order and concentrate on enjoying your later life.
We take the time to understand your needs before making a recommendation that’s personal to you. We always act in your best interests, and if our later life products aren’t right for you, we’ll tell you.
At Key, we believe your later life should be lived the way you want it. But we understand that means different things for different people. Equity release, for example, is a complex product with a lifetime commitment so may not be right for everybody. Our specialist equity release advice, which relates to Key lifetime mortgages only, is always personal to you. This helps us find the right later life product to meet your needs.
Pay off your existing mortgage and debts
Repay your existing mortgage and debts for financial peace of mind in later life. With a lifetime mortgage, there are usually no monthly repayments to make, as the loan plus compound interest is typically repaid through the sale of the property when the last remaining applicant passes away or moves into long term care. However, you should always think carefully before securing a loan against your home to repay existing debt.
Help your family when they need it most
From helping a loved one get onto the property ladder, contributing to university fees or even getting a grandchild onto the road with their first car, we’d all like to be able to help those we care about.
Boost your later life finances
Whether you need a cash lump sum or would like smaller amounts over time following an initial release, a Key lifetime mortgage allows you to choose what works for you to help put you in control of your finances.
Stay in the home you love
From transforming your bathroom into a wet room to installing a stair lift, by unlocking tax-free cash with a Key lifetime mortgage, you can make the changes you need to help stay in the home you love for as long as you choose.
Equity release benefits
Your specialist equity release adviser will explain:
You can unlock cash from your home, tax-free, to help meet your needs in later life
You’ll always retain full ownership of your home and can stay in it for as long as you wish with a Key lifetime mortgage
You can choose to make reduced or no monthly repayments to suit your circumstances
You’ll never owe more than your home’s worth with a Key lifetime mortgage
You may be able to remortgage your plan in the future to release further funds or secure a better interest rate, although this isn’t guaranteed and may be subject to early repayment charges
Equity release drawbacks
Your equity release adviser will also outline the following important things to think about:
A lifetime mortgage is a loan secured against your home and subject to compound interest, meaning the amount you owe can grow quickly
Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits
Equity release may leave you with limited or no property equity remaining
Equity release will reduce your financial options in the future
A lifetime mortgage is a long-term financial product and is not designed to be fully repaid until the death or entry into long-term care of the last remaining borrower, otherwise early repayment charges may apply
Your other options
Here are some alternatives that may be more suitable for you:
ⓘ If another product is more suitable, we'll refer you to a different adviser within Key Group who can help. If you go ahead, you'll only be charged the same £1,299 advice fee you'd pay with us, even if their fee is usually higher.
We have more than 25 years' experience helping over 55s with tailored financial advice on a range of later life products designed specifically to help you unlock some of the wealth tied up in your home and help take control of your finances.
Our expert advisers take the time to understand your needs before making a recommendation that’s personal to you. We always act in your best interests, and if our later life mortgage products aren’t right for you, we’ll tell you.
We'll give you all the information you need to make smart, well-informed decisions about your later life finances in your own time. And if you choose to go ahead, your personal case handler will support you throughout the process, answering any questions and overseeing all the paperwork.
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 an early repayment charge (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
Here to help when you're ready
Use our free calculator
Find out how much tax-free cash you could release from your home now with our equity release calculator
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