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Equity release is a way for homeowners over 55 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.
Find out how much you could release from your property.
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Transcript
You can release tax-free cash from your home through Key Equity Release with a lifetime mortgage, the most popular form of equity release.
With a Key Equity Release lifetime mortgage, you don’t have to make any monthly repayments. Instead, the interest with your lifetime mortgage is added to the loan - this is known as roll-up or compound interest. The loan plus interest is then repaid when the plan comes to an end, which is usually when you, or the last remaining borrower, 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.
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.
All of our plans 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.
With some of our 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 means that should your new home not meet our criteria, you can repay your plan without any early repayment charges.
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 make no monthly repayments or the no negative equity guarantee – which both come as standard with all of our plans.
The amount you can release is based on your age, general health and lifestyle and the value of your property. In H1 2019, Key customers had access to an average of £90,298. Our calculator will give you an idea of how much you can borrow.
Key Equity Release is the UK’s trusted equity release expert. 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 and support you every step of the way.
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. And 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 expert equity release advice is completely free, so you can find out if it’s right for you without it costing you a penny.
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.
Most Key Equity Release customers have received a fixed annual interest rate of 3.79% or lower. The overall cost for comparison is 3.97% APR.*
Yes, with our plans, you’ll still own your home and can stay in it for as long as you like.
No. All of our plans meet the Equity Release Council standards and come with the no-negative equity guarantee, meaning you’ll never owe more than your home’s worth.
Yes. Equity Release Council plans can be transferred to a new home, subject to criteria.
You'll need to appoint an independent solicitor to handle the legal side of the process to give you peace of mind.
You can use it in a wide variety of ways – but think carefully about how much you need to borrow.
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.
Yes, however, you will need to repay the mortgage using the money released. Any funds left over belong to you.
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.
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.
The money you release is tax free, and Key customers use it for a variety of things, such as travel, home improvements, and paying off their existing mortgage.
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.
Your specialist equity release adviser will explain: