To be eligible for equity release, the youngest homeowner must be at least 55. You must also own a property within the UK and its minimum value should be £70,000.
At Key, we’ve helped more than 1 million people decide if equity release is right for them or not, giving us a unique understanding of the questions and concerns you might have about equity release.
If you’re thinking about taking some of the equity out of your home, speak to our experienced team today to see if you’re eligible for equity release, or try our free online calculator
to find out how much in tax-free funds you could receive.
To help you understand the process, we’ve put together these simple steps to highlight what your journey to equity release could be like:
1. Speak to an expert
– they’ll answer any initial questions you might have and arrange a consultation with one of our qualified expert equity release advisers at a convenient time to you
2. Talk to your family
– we always encourage this so they can ask any questions they might have at the first appointment
3. First appointment
– one of our specialist, equity release advisers will explain the process and find out more about your personal circumstances
4. Find the right plan
– if equity release is right for you our adviser will explore our range of Key branded products
5. Second appointment
– our adviser will present their recommendation to you, talk through the plan and its features, and answer any questions you may have. They'll also provide, discuss and explain your personalised illustration.
6. Start the paperwork
– if you decide to proceed then the application will be submitted and your property will be valued independently
7. Receive your offer
– we’ll send you a formal offer confirming how much cash is available to you, and the full terms and conditions of your plan
8. The legalities
– as soon as everything is agreed, your solicitor can facilitate the signing and witnessing of documents
9. Receive your funds
– although we cannot guarantee how long this will take, you could receive your tax-free money within 8-12 weeks
Read more about your equity release journey here