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Key, Baines House,

4 Midgery Court, Fulwood,

Preston, PR2 9ZH

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What is equity release?

Equity release is a financial product that allows you to unlock some of the cash tied up in the value of your home. If you’re a homeowner aged 55 and over, you could be eligible. Every penny you unlock from your property through equity release is tax-free, and can be spent on whatever you want. You can still go ahead with equity release if you have an existing mortgage, although any outstanding loan secured against your home will need to be repaid. The money you release can be used for this purpose. 

To release equity from your home, you need to get expert advice from a qualified equity release adviser, which is where we can help.

  • Available to homeowners aged 55 and over
  • Release tax-free cash tied up in your home
  • You can't release equity without taking expert advice

How does equity release work?

You can release tax-free cash from your home through either a lifetime mortgage, the most popular form of equity release, or a home reversion plan.

Lump sum lifetime mortgage

lump sum lifetime mortgage is a loan secured against your home, giving you access to a one-off pot of cash and you’ll still own your own property
See how it works

Drawdown lifetime mortgage

drawdown lifetime mortgage lets you draw down cash in stages after an initial lump sum, and you only pay interest on the money released
More on drawdown

No monthly repayments

With a lifetime mortgage, you don’t usually have to make any monthly repayments. Instead, the interest with your lifetime mortgage is typically added to the loan - this is known as roll-up or compound interest. Then, the loan plus interest is repaid when the plan comes to an end, which is usually when you, or the last remaining applicant, either passes away or enters long-term care. Typically, your house will then be sold and the equity release provider will take their money from the sale proceeds. The remainder goes to you or your estate.


No negative equity guarantee

All of our plans are approved by the Equity Release Council. That means they come with several assurances, including the no negative equity guarantee. With it, you’ll never owe more than your home’s worth. So, any debt you accrue through equity release can’t be passed on to your loved ones after you’ve gone.


Protection for the future

With some plans, you can also choose to guarantee an inheritance for your loved ones through inheritance protection. And for your own peace of mind, your adviser can personalise your plan to include downsizing protection, so you can move home in the future if you need to, subject to criteria. It also means that should your new home not meet our criteria, you can repay your plan without any early repayment charges. 


Consider what's important to you

It’s important you think about what features you’d like your adviser to include in your lifetime mortgage plan. You can see the features here. If, for example, you’d like our lowest interest rate available, or to release the highest amount of tax-free cash we can offer from your home, there may be some trade-offs you will have to discuss with your Key Equity Release adviser.

They can guide you through your options, and it’s crucial to note that this won’t affect your entitlement to have no monthly repayments or the no negative equity guarantee – which both come as standard with all of our plans.


Other ways to release money from your home

Aside from lifetime mortgages – the most popular form of equity release – there are other ways to unlock money from your home. Home reversion plans include you selling all or part of your property to a reversion company for less than market value to receive a cash lump sum. You won’t retain legal ownership of your home, but you can remain there rent-free for the rest of your life.

There are other ways you can release money from your home, such as standard or retirement interest-only mortgages. Take a look at your options here.


Get your free guide to equity release

We have all the answers you’ll need here on our website; however, you can also request our free, no-obligation equity release guide to read over in your own time. It’ll tell you all about equity release, the different types of plans we offer and what unlocking tax-free cash from your home means for you now and in the future. I want my free guide


See how much you could release

The amount you can release depends on your age, how much your property is worth and your health and lifestyle. If you’re aged 55 and over and own a home worth at least £70,000, use our free equity release calculator to get a quick idea of how much you could release.
All our advice is completely
All our advice is completely

free of charge

All of our advice is free and unique to you, delivered by fully-qualified equity release experts. We're authorised and regulated by the FCA and take the time to get to know you and your needs to ensure we find and recommend the right solution for you.
 

Equity release that's right for you

With more than 20 years’ experience, Key has helped over 1 million people decide if equity release is right for them. So, you can be confident we’ll find and recommend the most suitable plan for you.

Advice that's free of charge

Equity release is regulated by the Financial Conduct Authority (FCA), and it’s a regulatory requirement that you seek expert advice before going ahead. We understand that when you’re thinking about unlocking money from your home there’s a lot to consider. That’s why you’ll never pay a penny for our tailored, expert equity release advice.

The right plan for you

We take the time to understand you and your needs, ensuring we find the right plan for you. We have a wide range of plans available, with rates starting from just 3% MER, and your Key Equity Release adviser will search its entirety to recommend the plan that suits you. If they determine that equity release isn’t right for you, they’ll tell you.

With you from start to finish

From your first phone call to your tax-free cash being released, we’re with you every step of the way. Your expert equity release adviser will find and recommend a plan that's right for you, submit your application on your behalf, and then you’ll have a designated case handler to support you throughout the rest of your journey.

We're here when you're ready to talk

We know how important this decision is for you, and we’ll make sure you have all the information you need to make an informed choice, in your own time.
 
I'D LIKE YOU TO CALL ME   or  I WANT TO CALL YOU

What to expect on your journey

We’ll guide you all the way along your equity release journey; first and foremost, finding out whether equity release is right for you.

One of our fully-qualified equity release advisers will take the time to get to know you, either in the comfort of your own home, or over the phone – whichever you prefer – and they’ll recommend the most suitable option for you and your circumstances. Rest assured, though, if equity release isn’t right for you, they’ll tell you.

Your designated case handler will be on hand while all the legalities take place, and then your tax-free cash is released. Read more about your journey here.
Download your free
Download your free

Equity Release Guide

Get the facts about equity release and see if it's right for you
  • Customer testimonials 
  • Get your questions answered
  • Explore the different plans available
  • See which one suits you

The commonly asked questions about equity release


Is equity release safe?

Equity release is regulated by the Financial Conduct Authority (FCA) whose primary role is to protect customers and enhance the financial market’s integrity. We're authorised and regulated by the FCA, ensuring all our processes and recommendations are clear, fair and not misleading to customers.
 


Will I still own my home?

Yes, with our plans, you’ll still own your home and can stay in it for as long as you like.
 


Will I ever fall into negative equity?

No. All our plans are approved by the Equity Release Council and come with the no-negative-equity guarantee, meaning you’ll never owe more than your home’s worth.
 


Can I move home?

Yes. With Equity Release Council approved plans your plan can be transferred to a new home, subject to criteria.
 


Who handles the legal side of the process?

You'll be given a choice of independent solicitors to handle the legal side of the process to give you peace of mind.
 


Are there any restrictions on what I can do with the money released?

No, you can use it for anything you like – but think carefully about how much you need to borrow.
 


Can I still leave an inheritance for my family?

Yes, you can. Some of our plans guarantee a set percentage of your home’s value, at the time your plan ends, will be retained.
 


Can I do equity release if I still have a mortgage?

Yes, however, you will need to repay the mortgage using the money released. Any funds left over can be spent however you like.
 


What happens when I pass away?

Your home will be sold once you and your partner have died. The sale proceeds will be used to repay the amount you owe and any money left will go to your estate.
 


How is my home's value assessed?

Your property will be valued by an independent RICS registered surveyor so you can be confident of an unbiased opinion of your property’s worth.
 

Things to consider

Your specialist equity release adviser will explain:

  • You have to get advice before releasing tax-free cash from your home. Please read all our information and make sure it's right for you
  • A lifetime mortgage, which is a loan secured against your property, is the most popular form of equity release and you’ll retain full ownership of your home
  • All of our plans are approved by the Equity Release Council and come with several protections, including the no negative equity guarantee, which means you’ll never owe more than your home’s value
  • Equity release reduces your estate's value and may affect any means-tested benefits you're eligible for
All information is correct as of 14/10/2019