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Our Address

Key, Baines House,

4 Midgery Court, Fulwood,

Preston, PR2 9ZH


0800 531 6027

What is equity release?

Equity release is a financial product for people aged 55 to 95 which allows you to release some of the cash (equity) tied up in the value of your home. The money released, which can be spent however you like, can be taken as a single lump sum or more than once in smaller amounts, following an initial lump sum. To release equity from your home, you need to get expert advice from a qualified equity release adviser, which is where we can help.

You can use the money released from your home however you like to help finance a better, more rewarding retirement

Better quality of life

Change your life

Gifting to loved ones

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Clear existing debt

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Stay where you love

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How equity release works

Equity can be released from your home with either a lifetime mortgage or a home reversion scheme. The most popular type of equity release is a lifetime mortgage, which is a loan secured against your home where you retain full ownership of your property.

See how much equity you could release

The amount you can release depends on your age, how much your house is worth and your health and lifestyle. If you’re aged 55 to 95 and own a home worth at least £70,000 of a standard construction, use our free equity release calculator to get a quick idea online of how much you could release.

Generally, the older you are and the higher the value of your home, the more equity you can release. Last year, we helped our customers have an average of over £85,000 of tax-free cash available to spend on a better retirement; see how they spent their money.

Equity release interest

Instead of making monthly repayments, the interest is usually added to the loan; this is known as compound interest. Then, the loan plus interest is repaid when the plan comes to an end, usually when you (and any other applicant) either pass away or move into 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.

Finding a suitable plan

In recent years, equity release has become increasingly popular and much more accessible, with an increasing number of plans and features which can be tailored to meet customer needs.

All equity release plans aren’t the same; we work with you to understand what’s important to you when thinking of releasing equity, and help find the most suitable plan for you. We recommend Equity Release Council approved plans which come with a no negative equity guarantee. This means you can never owe more than the value of your home, and therefore won't risk leaving your loved ones with additional debt to repay.

There are also plans available that allow you to protect a percentage of your home’s future value so that you can guarantee an inheritance. Other features include paying monthly interest and drawdown facilities. If any of these features are important to you, make sure you tell your adviser that you'd like your plan to include them.

We're here when you're ready to talk

Let us call you OR call us free on 0808 252 9170

Good advice is Key

Watch our quick, useful video to get a better idea of how equity release works. Our advisers will help you explore your options with no pressure or obligation; just independent, honest, whole of market advice.



Your adviser can help you to find a plan with features that make it right for you. This might include

  • Guaranteeing an inheritance
  • Drawing additional money in the future
  • Releasing more money with an enhanced plan


Every Equity Release Council approved plan offers the following protections

  • A no negative equity guarantee
  • The right to stay in your home for life
  • The right to move home if you wish to (subject to criteria)

Equity release plans

There are different types of equity release to choose from; an adviser can help you understand which would be most suited to you

Lump sum lifetime mortgage

A lump sum lifetime mortgage secured against your home, giving you access to a one-off pot of cash and you’ll still own your own home

See how it works

Drawdown lifetime mortgage

A drawdown lifetime mortgage lets you draw down more cash in stages after an initial lump sum, though you’ll only pay interest on the money released

More on drawdown

Home reversion plan

A home reversion plan involves selling all or part of your home for a tax-free cash lump sum, though you still have the right to stay there for life

Learn more

Equity release next steps

Step 2: Advice

This is a Financial Conduct Authority requirement and you can't take out equity release without expert advice; that's where we can help

Step 3: Appointments

We guide you through every step, from understanding what you actually need to arranging the paper work to release your money
You have to take advice before taking out equity release. This is something the Financial Conduct Authority (FCA) insists on and there is no other way to do it. The FCA does this because the equity release market is so varied and the decision to release equity from your home is such a big one.

Independent, expert advice

This is where we come in. We’re fully independent and will help identify if equity release is right for you. The first step is to speak to one of our specialists, who’ll answer any initial questions you might have and arrange a consultation with one of our independent equity release advisers. This will be on a day and at a time that suits you and in the comfort of your own home, or over the phone if you prefer.

We compare the whole market

Your adviser will discuss your needs to understand what matters most to you and explore all your options. Then they'll compare the whole equity release market to find the most suitable plan for you.

The initial consultation with us is free with no obligation or pressure to proceed. If equity release isn’t right for you, we’ll tell you. If you decide to go ahead, we'll support you every step of the way, dealing with all of the paperwork through to completion.

Involve your loved ones

It’s important to involve your family in any financial decision which will reduce the value of the inheritance left to them. We actively encourage all our customers to invite as many family members or friends as they wish to their equity release consultation. That way everyone can get a full picture of equity release before any decisions are made.

We find that most families are incredibly supportive of their loved ones’ decision to take out an equity release plan to boost their retirement finances. Existing customers experiences will give you an idea of how it all works.

Arranging an equity release plan will typically take 8 to 12 weeks. This timescale is not guaranteed though, in some circumstances it may be completed sooner, or it could take longer.
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 and see which one suits you

More on equity release

Customer Stories

We've won plenty of awards which we're proud of, though what we're most proud of is what our customers say about us and how we've helped them finance a better retirement

Watch our videos


We debunk common myths and concerns some people have towards equity release and explain why they should be a thing of the past; test your knowledge with our quick fire quiz

Try our mythbuster

Switch plans

We may be able to get you a better deal by speaking to our expert team, or help you release some extra cash with a further advance, which is known as a top-up on your original plan

Find out how

Frequently asked questions

Can I move house in the future if I've taken out equity release?

With a lifetime mortgage, you're able to move house in the future if you wish. You can either repay the amount owed plus any early repayment charges, or transfer the plan to your new home. Each provider has specific criteria that applies concerning moving home, so you should check this when you take out a plan.

Can I pay back equity release early?

You have the option to repay your equity release plan early, but you may incur an early repayment charge with a lifetime mortgage. There are some plans available which offer downsizing protection, protecting you from the early repayment charge if you choose to move into a property that is not acceptable to your lender, and therefore repay your loan. This is typically available after five years of having taken out the plan. Please speak to your adviser about this before going ahead, if it is something that you are interested in.

Can I remain in my home for the rest of my life?

We recommend plans which have this guarantee, so you can stay in your home as long as you wish. This feature applies to both lifetime mortgages and home reversion plans, but is also subject to your adherence to the terms and conditions of the plan.

How safe is equity release?

All advisers at Key follow strict rules and guidelines, ensuring each customer receives the correct recommended plan type and the plan meets their needs, making equity release plans both accessible and safe. As an equity release advisory service, we are also authorised and regulated by the Financial Conduct Authority (FCA). In order to take out an equity release plan you have to take specialist advice - and you will only be advised to continue if equity release is right for you.


With Equity Release Council (ERC) approved plans a number of guarantees are available. These include a no negative equity guarantee, the right to remain in your property for life and the right to move to another property (subject to criteria).

We are also dedicated to making sure that our customers receive all of the facts about equity release - including that equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits.

Can I take out equity release if I've not finished paying off my mortgage?

Yes, but it'll be necessary to repay the outstanding mortgage. The proceeds of the equity release can be used for this purpose.

Will I have to make monthly repayments?

Unless you choose to take out an interest payment plan, there are typically no monthly repayments to make. This is because the loan, plus roll up interest, is repaid when the plan comes to an end, usually when you (and any other applicant) either pass away or move into long-term care. The total amount owing to the provider will usually be paid from the sale of your home.

Things to consider

When comparing the whole equity release market, our independent specialist advisers will explain:

  • You have to get advice before releasing equity. Please read all our information and make sure it's right for you
  • The plans we recommend have a no negative equity guarantee, so 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
  • The initial consultation is free with no obligation and if you proceed with an equity release plan our advice fee, usually 1.99% of the amount released (£1,499 minimum), payable on completion
  • A lifetime mortgage, which is a loan secured against your home, is the most popular form of equity release and you will still own your home