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      4 Midgery Court, Fulwood,

      Preston, PR2 9ZH

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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. Aside from being regulated by the Financial Conduct Authority and being members of the Equity Release Council, we 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

We’re regulated by the Financial Conduct Authority. Their primary role is to protect customers and enhance the financial market’s integrity.

In addition, 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

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: Thursday 18 November 2021