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Equity release
Your journey

Can I still release equity from my home during lockdown?

The simple answer is yes. You can release equity from your home during lockdown but as you might imagine things have changed and there are important things you need to consider. All our advice is available in full over the phone, so we can help you consider your current needs alongside your longer term plans. It has always been a requirement to take specialist equity release advice when you take out an equity release product and never before has getting the right quality of advice been more important. Our honest approach to equity release advice ensures that if equity release is not right for you here and now, we’ll tell you.

It has always been vitally important that you balance both your short-term and longer term financial needs but now, more than ever, the need to get good quality advice is crucial. Equity release lasts a lifetime and so it is important not to rush into a long-term financial decision just to service a short-term need.

This is what the typical equity release journey looks like

1. Speak to an expert

An equity release specialist will answer your initial questions and arrange a telephone consultation
with one of our qualified expert equity release advisers at a convenient time to you.

2. Talk to your family

We encourage you to discuss equity release with your family and we can arrange for them to join the telephone consultation to ask any questions they may have.

3. First telephone appointment

Your dedicated equity release adviser will discuss various options available to you, explain the process and find out more about your personal circumstances and requirements.

4. Finding the right plan

If equity release is right for you, your adviser will search our range of Key branded products to find the most suitable one for you.

5. Second telephone appointment

Your equity release adviser will present their recommendation to you, talk through the plan and its features, and answer any questions you may have. They’ll also post out your personal illustration and recommendation for you to look at in your own time

6. Starting the paperwork

Should you decide to proceed, the paperwork will be submitted and your property will be valued. Under lockdown, physical property valuations aren’t possible, so we are currently using a ‘semi-automated valuation’. These use a combination of property value data sources and a local RICS chartered surveyor’s expertise to be able to assess your property’s value without the need for someone to visit during lockdown.

7. Offer issued

You will be issued with an offer detailing exactly how much cash is available to you, including full terms and conditions of your plan for your approval.

8. Legalities

Once you’ve agreed with your equity release offer your solicitor can facilitate the signing and witnessing
of documents whilst adhering to government guidelines on social distancing, allowing customers to proceed with
equity release.

9. Get your cash in 8-12 weeks

Although a timescale cannot be guaranteed, this is the typical time it takes from application to
completion. You can now start putting the money to good use.

All of our advice is free and tailored to you, delivered by fully-qualified equity release experts. We're authorised and regulated by the FCA and take the time to get to know you and your needs to ensure we find and recommend the right outcome for you.

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More on equity release

Free guide

Get all the information you need with our free equity release guide

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Use our free equity release calculator to see how much you could release

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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
  • 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