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      Key, Baines House,

      4 Midgery Court, Fulwood,

      Preston, PR2 9ZH

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

When considering equity release, it's natural to have concerns about its safety. Our equity release products come with a range of protections

Equity release safeguards and protections

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 could be 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 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. However, it’s important to remember that a lifetime mortgage may leave you with limited or no property equity remaining, and it’ll reduce your financial options in the future.

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.

Back to Mythbusters

Lifetime mortgage benefits

Your specialist equity release adviser will explain:

  • You can unlock cash from your home, tax-free, to help meet your needs in later life
  • You’ll always retain full ownership of your home and can stay in it for as long as you wish with a Key lifetime mortgage
  • You can choose to make reduced or no monthly repayments to suit your circumstances
  • You’ll never owe more than your home’s worth with a Key lifetime mortgage
  • You may be able to remortgage your plan in the future to release further funds or secure a better interest rate, although this isn’t guaranteed and may be subject to early repayment charges


Your equity release adviser will also outline the following important things to think about:

  • A lifetime mortgage is a loan secured against your home and subject to compound interest, meaning the amount you owe can grow quickly
  • Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits
  • Equity release may leave you with limited or no property equity remaining
  • Equity release will reduce your financial options in the future
  • A lifetime mortgage is a long-term financial product and is not designed to be fully repaid until the death or entry into long-term care of the last remaining borrower, otherwise early repayment charges may apply

Want to know more?

Get all the facts about equity release by downloading our free guide to read straight away.

Explore how Key could help you put the life in later life.

Things to consider

  • All our equity release advice relates to Key lifetime mortgages only - a loan secured against your home
  • 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
  • Our fixed advice fee of £1,299 is only payable on completion

Here to help when you're ready

Use our free calculator

Find out how much tax-free cash you could release from your home now with our equity release calculator

Speak to an adviser

Book an appointment with a specialist equity release adviser at a time that's good for you

Assess your options

Our later life mortgage finder helps you consider your options

Your other options

Here are some alternatives that may be more suitable for you:

Equity release costs

Here are some guides to help you understand equity release costs:

ⓘ If another product is more suitable, we'll refer you to a different adviser within Key Group who can help. If you go ahead, you'll only be charged the same £1,299 advice fee you'd pay with us, even if their fee is usually higher.

Page last updated: Friday 15 December 2023