Opening Hours

Open at 9:00am Today

Opening Hours

  • Monday - Thursday

    9:00am - 8:00pm

  • Friday

    9:00am - 5:30pm

  • Saturday

    9:00am - 5:00pm

  • Sunday

    Closed All Day

Our Address

Key, Baines House,

4 Midgery Court, Fulwood,

Preston, PR2 9ZH


0800 531 6027

Switching equity release

Already taken out an equity release plan? Switch and you may be able to save money, or release more

Thinking of switching equity release?

By switching to a more competitive equity release plan you may be able to:

Find a better rate

Take advantage of latest interest rates

Access more money

Release more equity from your home

Unlock more features

Access more features from other plans

Why look for a better deal?

Switching could save you thousands


If you have already taken out an equity release plan you may find that, as average interest rates for equity release plans have dropped in recent years, your current rate is no longer competitive. This means that you might benefit from swapping your current plan to a more competitive one.

Take advantage of the latest features

Different equity release plans come with a variety of features that you may or may not wish to take advantage of. There may be features such as inheritance protection or downsizing protection that may not be a feature of your current plan. If this is the case, you may be able to switch to unlock these additional benefits. You may also be able to qualify for an enhanced plan, if you have qualifying health conditions, giving you access to more cash at different rates.

If you would like to progress your enquiry, your appointment will be handled by The Equity Release Experts. The Equity Release Experts are part of Key Group and provide the same expert advice you have previously experienced with Key. Your adviser is fully independent and will search the whole market, ensuring they consider all elements of your existing policy to find the best deal for you.

Unless you decide to go ahead, the service provided by The Equity Release Experts is completely free of charge, as the typical advice fee of 1.99% of the amount released is only payable on completion of plan.

The table below demonstrates the difference in interest rates over time and how reviewing your current plan could save you money.
Amount borrowed         Average Lifetime Mortgage interest rate          Total Repayment when plan ends              
5 years 10 years 15 years
£98,499 5.96% (July 2016) £131,565.36 £175,732.19 £234,725.93
£98,499 4.91% (July 2019) £125,174.61 £159,074.55 £202,155.30
Potential saved by switching £6,390.75 £16,657.64 £32,570.63

Illustrative example only.

Things to consider

When comparing the whole equity release market, our independent specialist advisers 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
  • Key Equity Release offer lifetime mortgages only, which is a loan secured against your home. It will reduce the value of your estate and may affect your entitlement to means-tested benefits
  • All of our plans meet the Equity Release Council standards and come with several protections, including the no negative equity guarantee, which means you’ll never owe more than your home’s value
Page last updated: Thursday 01 October 2020