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Your journey

  • See what to expect when you choose Key
  • Understand how equity release works
  • We'll explain the benefits and drawbacks

Try our free calculator

You could be eligible if you:

  • Are a UK homeowner aged 55+

  • Own 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.

Application: 

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.

Valuation: 

An independent RICs surveyor will also visit your home to assess the value of your property for equity release purposes.

Offer: 

You'll be issued with a lifetime mortgage offer following a satisfactory valuation, 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.

Completion: 

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

Watch our video to find out more about the benefits and drawbacks of equity release.

All our equity release advice relates to Key lifetime mortgages only - a loan secured against your home


Video transcript (pdf)

Next steps to your equity release journey

Calculate online

  • Quick and easy to use

  • Instant results

  • No obligation to go ahead

Prefer to speak to us?

  • Speak to our friendly experts

  • Get your questions answered

  • See if it could be right for you

Read our free guide

  • Learn how equity release works

  • Free to download 

  • Get the facts you need

Your other options with Key
Key offers alternatives to equity release such as a retirement interest-only mortgage or retirement repayment mortgage. If another product is more suitable, including home reversion, we'll refer you to a different adviser within Key Group to 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.

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.

Page last updated: Friday 01 November 2024