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Who will own my home?
At Key, we recommend lifetime mortgages, which is a type of equity release where you remain the owner of your property.
This means you’ll still have the freedom to decorate and carry out home improvements as you usually would. In fact, many of our customers take out equity release to pay for home improvements. However, it does also mean you remain responsible for the upkeep of the property.
When it comes to spending the tax-free cash you’ve unlocked from your home, it can be spent in a wide variety of ways. It could be for supporting someone close to you, taking a trip of a lifetime or as already mentioned, some long-awaited or much-wanted home improvements.Can you lose your house with a lifetime mortgage?
No, equity release - through a lifetime mortgage - won’t cause you to lose your home, provided you follow the agreed terms and conditions. You remain the legal owner and can stay in your property for life or until you move into permanent care. The loan, plus any compound interest is typically repaid from the proceeds of the property's sale.
Stay in your home for life
No matter which type of equity release plan you choose, as long as it’s one that meets the Equity Release Council standards, you’ll be guaranteed the right to stay in your home until the plan comes to an end. This is usually when you, or the last remaining applicant either passes away or enters long-term care.
All of the plans we recommend meet the Equity Release Council standards and come with the guarantee you can remain in your home. If you are considering equity release we recommend that you read through is it right for me?
Watch our video to learn more about the benefits and drawbacks of equity release and see if it could be right for you.
All our equity release advice relates to lifetime mortgages - a loan secured against your home. Our fixed advice fee of £1,699 is only payable on completion
Want to know more about releasing equity from your home?
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.
Here to help when you're ready
Your other options with Key
If another product is more suitable, we'll refer you to a different adviser within Key Group to help. If you go ahead, you'll never be charged more than our standard fixed advice fee of £1,699, even if their fee is higher. Key Group offers alternatives to equity release such as a retirement interest-only mortgage or retirement repayment mortgage.
Other options to think about
It's important to know your other options before going ahead with equity release. These include: downsizing, unsecured lending, using existing assets, or support from friends or family.
Not eligible for an equity release mortgage?
If you're not eligible now, try our later life mortgage finder. We could still help you take control of your later life finances.
Page last updated: Tuesday 06 May 2025