• Open at 9:00am on Saturday
    • 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

  • UK FREEPHONE 0800 531 6027

Mythbuster: "I'm going to be scammed or ripped off"

Interested in equity release but concerned that you won't be getting good value for money? We sometimes hear equity release referred to as a 'scam', or a 'rip-off'; in reality, there are a wealth of different ways in which equity release customers are protected.
We always make sure that our customers are well-informed and well-protected. We are members of the Equity Release Council and take the time to get to know you and your personal circumstances, as the first thing to work out is whether equity release is right for you.

This helps us make sure that you only go ahead with equity release if you want to and it’s right for your situation.

If it isn’t, we’ll tell you.

What’s right for you

We always act in your interests, discussing alternatives to equity release, such as downsizing or other forms of lending. Our equity release advice is unique to you and your needs, delivered by qualified experts.

Your Key Equity Release adviser will provide you with an illustrative example of costs for the plan they recommend. You'll get a chance to discuss them up front, ask any questions you may have, and make the decision in your own time.

The importance of advice

We understand that what’s right for some of us in retirement is not always the case for everyone. Equity release isn’t the right solution for everyone, and taking advice from a specialist equity release adviser is a crucial part of that decision-making process.

In fact, it’s a regulatory requirement. You can’t take out an equity release plan without first taking advice. That’s where we can help.

All of our advisers are fully-qualified equity release experts. They’ll provide you with all the information you need to decide if equity release is right for you.

Your other protections

All of our plans meet the Equity Release Council standards. That means they come with a number of important guarantees, including the no negative equity guarantee. With it, you’ll never owe more than your home’s worth, so any debt accrued through equity release can’t be passed on to your loved ones.

As well, with all our plans, you’re guaranteed the right to stay in your home for life and have the right to move home should you wish to, subject to criteria.

Things to consider

  • All our equity release advice relates to Key lifetime mortgages only - a loan secured against your home
  • Equity release will reduce your estate’s value and may affect your entitlement to means-tested benefits
  • A lifetime mortgage may result in limited or no property equity remaining and will reduce your financial options in the future
  • You should always think carefully before securing a loan against your home to repay existing debt
  • The loan, plus compound interest, is typically repaid through the sale of the property when the last remaining applicant passes away or moves into long-term care
  • £899 advice fee only payable on completion
Page last updated: Thursday 18 November 2021