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Your journey

  • See what you can expect as part of your equity release journey
  • Get all the information you need to make an informed decision
  • We'll explain the benefits and drawbacks of equity release

Am I eligible?

You could be eligible if you're:
  • A UK homeowner aged 55+
  • With a property worth £70,000+
Calculate now

Our process usually involves the following stages:

Speak to a specialist: 

One of our specialists will answer your initial questions. If you'd like to find out more, they'll arrange a consultation with an expert equity release adviser.

Talk to your family: 

Equity release is a big decision, so we encourage you to take your time researching and discussing it with your family. You can invite them to appointments too.

First advice appointment: 

A dedicated equity release adviser will find out more about your circumstances and requirements and discuss the options available including other later life lending options, letting you know whether equity release could be suitable for you.

Finding the right plan: 

If you decide to continue with the process, your adviser will search our range of lifetime mortgages to find the most suitable option for you.

Second advice appointment: 

Your adviser will present their expert recommendation and a personalised illustration of how it could work financially, and answer any questions you may have.


Should you decide to go ahead, your adviser will complete an application form with personal details and paperwork such as identification and proof of address.


An independent RICs surveyor will also visit your home to assess the value of your property for equity release purposes. 8. Offer: You'll be issued with a lifetime mortgage offer following a satisfactory valuation, including full terms and conditions for your approval.


You'll be issued with a lifetime mortgage offer following a satisfactory evaluation, including full terms and conditions for your approval.

Legal advice: 

Your solicitor will get a copy of the offer and arrange a meeting with you. They must provide you with independent legal advice as part of the process and they must also witness the signing of the documents.


The last stage is completion. Your solicitor will transfer your funds to you, allowing you to start using it for the things that matter to you.

Benefits and drawbacks of equity release

It's important you have all the facts available to make the right decision for you.

Equity release benefits

Your specialist equity release adviser will explain:

  • You can unlock cash from your home, tax-free, to help meet your needs in later life.
  • You’ll always retain full ownership of your home and can stay in it for as long as you wish with a Key lifetime mortgage.
  • You can choose to make reduced or no monthly repayments to suit your circumstances.
  • You’ll never owe more than your home’s worth with a Key lifetime mortgage.
  • You may be able to remortgage your plan in the future to release further funds or secure a better interest rate, although this isn’t guaranteed and may be subject to early repayment charges.

Equity release drawbacks

Your equity release adviser will also outline the following:

  • A lifetime mortgage is a loan secured against your home and subject to compound interest, meaning the amount you owe can grow quickly.
  • Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits.
  • Equity release may leave you with limited or no property equity remaining.
  • Equity release will reduce your financial options in the future.
  • A lifetime mortgage is a long-term financial product and is not designed to be fully repaid until the death or entry into long-term care of the last remaining borrower, otherwise early repayment charges may apply.

How to release equity from your home

To help you understand the process, we’ve put together these simple steps. They highlight what your journey to equity release could be like:

Use our free calculator

Find out your eligibility and how much cash you could release tax-free from your home with our equity release calculator

Speak to an adviser

Book an appointment with a qualified equity release adviser at a time that's good for you. Find out what to expect from your equity release advice appointment

Assess your options

If you want to learn more, your adviser will recommend the most suitable product, provide a personalised illustration and answer your questions

Your other options

Here are some alternatives that may be more suitable for you:

Equity release costs

Here are some guides to help you understand equity release costs:

ⓘ If another product is more suitable, we'll refer you to a different adviser within Key Group who can help. If you go ahead, you'll only be charged the same £1,299 advice fee you'd pay with us, even if their fee is usually higher.

Things to consider

Your specialist equity release adviser will explain:

  • All our equity release advice relates to Key lifetime mortgages only - a loan secured against your home
  • Equity release will reduce your estate’s value and may affect your entitlement to means-tested benefits
  • A lifetime mortgage may result in limited or no property equity remaining and will reduce your financial options in the future
  • The loan, plus compound interest, is typically repaid through the sale of the property when the last remaining applicant passes away or moves into long-term care
  • Our fixed advice fee of £1,299 is only payable on completion
Page last updated: Tuesday 24 October 2023