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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 2.70% fixed for life.*

Access more money

​Release more equity from your home

Unlock more features

​Access more features from other plans

* The overall cost for comparison is 2.91% APR. Stated rates correct as of 4 May 2022. The actual rate that you receive will depend on your circumstances.

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 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. 

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
£113,237* 4.91% (July 2019) £144,673.88 £184,838.26 £236,153.10
£113,237* 4.26% (July 2021) £140,064.89 £173,248.78 £214,294.54
Potential saved by switching £4,608.99 £11,589.48 £21,858.56

Illustrative example only.
*Autumn 2021 Equity Release Council report H1 2021 average lump sum

If you'd like to speak to one of the team, call today on 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: Monday 09 May 2022