Equity Release Advice | What To Expect

If you’re considering equity release as an option to help finance your retirement, you’ve probably already done some research.

You may have downloaded our free guide to equity release. Or perhaps you’ve found out how much you could release with our calculator.

However, the best way to find out whether equity release could be right for you is to book an appointment with a specialist equity release adviser. In fact, if you’re thinking of taking out equity release, it’s a requirement of the Financial Conduct Authority (FCA) that you receive regulated advice to make sure your interests are protected.

It’s a straightforward, friendly appointment to explain to you how equity release works and how you could decide whether it’s the right option for you.

Here’s how it works:

Types of appointment

Everyone’s circumstances are different, so we offer advice in a number of different ways to help you access it in a way that suits you. Key Equity Release offer lifetime mortgages only, which is a loan secured against your home. All of our advice relates to our range of Key-branded lifetime mortgage products and our fixed advice fee of £599 is only payable on completion. So whichever type of appointment you choose, you can find out if a lifetime mortgage is right for you without it costing you a penny.

Face to face appointments

A face-to-face appointment means you can meet with your adviser in the comfort of your own home at a time that suits you.

You’ll receive a phone call before the visit from your equity release adviser to introduce themselves. The health and safety of our customers and advisers is important to us, so please rest assured, COVID safe procedures are carried out throughout your appointment. If possible, friends and family are encouraged to join the appointment to ask any questions they may have.

The appointment will last around an hour and a half.

Telephone appointments

Should a telephone appointment suit you better, we'll arrange a convenient time for you to speak to a specialist equity release adviser. You can invite any friends or family members on to the call as well in case they have questions too.

Please note these calls are recorded.

The appointment will last around an hour and a half.

Video appointments

If you want that same face-to-face experience, one of our zoom video appointments with an equity release adviser might be right for you. We encourage friends or family members to join these appointments too, so they can find out more and ask any questions.

The appointment will last around an hour and a half.

What do you need to prepare for the initial appointment?

Your initial appointment with your adviser is very straightforward and there’s really nothing you need to do to prepare for it. It would be great if you could have a think before you speak to your adviser about:

How much money you would like to potentially release from your home and what you would use it for
If you’re looking to pay off existing debt with the money released, how much you owe and if there are any early repayment charges
A rough idea of your current income
A list of any questions you may have so you don’t forget them on the day

What happens at the initial appointment?

Your initial appointment is to help you understand how equity release works, ask questions you may have and for your adviser to find out a little more about your circumstances to see if equity release is right for you. There’s no obligation to proceed at all.

The presentation

First of all, your adviser will take you through a presentation to give you all the information you need, such as:

Who Key Equity Release is and what we do, explaining the stages of the lifetime mortgage process
What equity release is and how it could help your retirement finances
What your other options could be to raise capital
What the additional features of lifetime mortgages are and any costs involved in the process

Tailoring the advice to you

All of our equity release advice is based on your needs and circumstances, so now your adviser will ask you some questions. This includes:

Some basic personal information:

Your age, health and lifestyle could all play a part in how much money you could release from your home. So it’s important your adviser knows a little bit about you.

Details about your financial situation:

Do you have an outstanding mortgage, or a loan secured against your home, that you'll need to pay off? Would you like to make repayments on your lifetime mortgage or not? All these things are important to find the right plan for you. Your equity release adviser will need a rough idea of how much equity you'd like to release.

Details about your property:

Details about your property, including your estimated property value, will be taken to establish whether your property could be acceptable for equity release.

Discussing additional features:

Would you look to guarantee an inheritance? Might there be a chance you would move in the future? Finding a plan to suit your needs starts with knowing your needs.

Once your adviser has this information, they can look at the plans available from our range of Key branded lifetime mortgage products, finding the one that most suits your needs.

Question time

Now is your chance to ask any questions you may have. If you have a family member attending the appointment, they can find out what they need to know too and ask any questions they may have.

It might be a good idea to write down anything you want to know before the appointment, so you don’t forget anything.

What happens after the appointment?

Once your adviser knows more about what you need, they’ll search the product range that we have created using 20 years’ experience and our unique insight in helping over 1 million people decide if equity release is right for them.

You’ll be invited to attend a second appointment where your equity release adviser will provide their advice and recommendation to you. You will receive a written recommendation report and personalised illustration, explaining the plan, either in the post for telephone and zoom appointments or in person if you had a face to face appointment. It’s then up to you to decide whether you’d like to go ahead or not. If you do decide you wish to proceed, your adviser will talk through the next steps and help you continue with the process.

Don’t worry if you have any questions in the meantime – your adviser will leave their details so you can contact them at any time.

How do I get started?

Get your free guide

Download your free guide to see how equity release works

Request your guide

I want to calculate

Use our free calculator to see how much tax-free cash you could release

Get started

I want to get advice

Or, if you would like to discuss your options with one of our friendly experts, request a free call back here.

Book now

Things to consider

Your specialist equity release adviser 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
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
You should always think carefully before securing a loan against your home

Page last updated: Wednesday 05 January 2022

What to expect from your initial equity release appointment