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Switching equity release

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

Find a better rate

Take advantage of latest interest rates - Annual interest rates from as low as 4.42% fixed for life.*

Access more money

​Release more equity from your home

Unlock more features

​Access more features from other plans
*Lowest available rate correct as of 4th August 2022. Most Key Equity Release customers have received a fixed annual interest rate of 5.35% or lower and the overall cost for comparison is 5.48% APR, both correct as of 4th August 2022 and based on customer data from the last 60 days. Interest rate received and plan features are subject to eligibility. Ask for a personal illustration.

The table below demonstrates the difference in interest rates over time and how reviewing your current plan could save you money.

Average Amount borrowed         Average Lifetime Mortgage interest rate          Total Repayment when plan ends              
5 years 10 years 15 years
£123,688* 4.91% (July 2019) £158,026.28 £201,897.57 £257,948.41
£123,688* 4.26% (July 2021) £152,991.92 £189,238.46 £234,072.46
Potential saved by switching £5,034.36 £12,659.11 £23,875.95

Illustrative example only.
*Autumn 2021 and Spring 2022 Equity Release Council report. Average amount borrowed based on H2 2021.

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.

You can find out if you can switch your plan without it costing you a penny by talking to one of our expert equity release advisers. All our equity release advice relates to our range of Key branded products only and our fixed advice fee of £599 is only payable on completion.

Call now on 0808 252 9768.

See if you could release more cash with your current plan or whether switching to a different plan may suit your needs better. Your adviser will look at any early repayment charges you may need to consider. 

Next steps on switching your plan

If you'd like to speak to one of the team, call today.

0808 252 9768

Things to consider

  • 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
  • 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
  • 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.
Page last updated: Thursday 23 June 2022