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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 with Key?

Key's award winning equity release advice can help you switch to the plan that best suits you. Our specialist advisers have access to plans from the whole equity release market. Even if you arranged your initial plan through another company we can still help you find 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.

Access more money from your home

If you'd like to unlock some extra cash from your home then you might be able to get a further advance, sometimes known as a 'top-up'. This is an additional loan that works in the same way as your original equity release plan. The value of your property may have increased, meaning you can borrow more.

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.

Key Equity Release Calculator Video

Watch our free video

See how our free equity release calculator helps you understand how much you could release


Customer story

How switching worked for David and Rosalind Davies

David and Rosalind first took out equity release on their three bedroom home in 2008. Realising that they were asset rich but cash poor they used it as a way to make their financial situation more comfortable. One year after moving into the property they released £20,000 to help pay for the upkeep of their boat and various other household projects.

Over the next few years they released more cash, for holidays & other projects. As a number of years had passed since they took out their plan, they decided it may be worthwhile seeing if they could get a better deal. They re-brokered their loan at a much lower interest rate. Former fire protection system manager David, says “It’s proved an excellent way for us to get some extra cash.”

We're here to help

Speak to one of our expert advisers over the phone in a no-obligation consultation, so they can get to know your needs

As we’re independent, our focus is you, meaning you’ll receive impartial advice to help you decide in your own time
Arrange advice
If you don't currently have an equity release plan, get the full facts on what it is and how it works
equity release
When you call, it'd be handy if you had to hand the following details: the current estimated value of your property; the total outstanding balance of your current equity release plan; and any early repayment charges your plan includes.

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