Opening Hours

Open until 8:00pm today

Opening Hours

  • 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

0808 252 9170

Will my kids inherit debt through my equity release?


No. With all Equity Release Council approved plans, you’ll never owe more than the value of your home. If you choose to unlock cash from your home with an Equity Release Council approved plan, they, and you will be protected.

All of our plans are approved by the Equity Release Council, meaning they come with the no negative equity guarantee. With them, any debt you accrue through equity release can’t be passed on to your loved ones.

When you, or the last remaining applicant passes away or moves into long-term care, signalling the end of your equity release plan, your home will usually be sold and the sale proceeds will be used to repay the amount you owe. Any money left will go to your estate.

Taken directly from the Equity Release Council's website, your protection is as follows: “When your property is sold, and agents’ and solicitors’ fees have been paid, even if the amount left is not enough to repay the outstanding loan to your provider, neither you nor your estate will be liable to pay any more.”

If you want to repay your equity release plan early, you can. However, it’s worth noting that you may incur an early repayment charge. Your Key Equity Release adviser will discuss any early repayment charges applicable to the plan they recommend to you clearly before you commit to your plan.
 

What if I go into long-term care?


If you have a joint plan, and you or the other plan holder goes into long-term care, the other can continue to live in the property, and your plan would not usually be affected. However, if you both require long-term care, or you’re a single applicant and go into long-term care, the plan will end and your property will usually be sold to repay the amount you owe.

If you have any further concerns about passing on equity release debt to beneficiaries, we can talk you through it and answer any further questions you may have.

If you are considering equity release we recommend that you read through is it right for me?

Equity Release Mythbusters

See more

Is equity release right for me?

Read more

Want to know more?

Get all the facts about equity release by downloading our FREE guide to read straight away. Plus, we'll post one out to you at no extra cost. 
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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
  • A lifetime mortgage, which is a loan secured against your property, is the most popular form of equity release and you’ll retain full ownership of your home
  • All of our plans are approved by the Equity Release Council and come with several protections, including the no negative equity guarantee, which means you’ll never owe more than your home’s value
  • Equity release reduces your estate's value and may affect any means-tested benefits you're eligible for