Frequently asked questions

FAQs about equity release

Click on the questions in grey to find out more about equity release, including truth behind common myths and the related services Key can offer you.

Yes, this is possible. There are plans available that allow you to protect a proportion of your property value so that you can guarantee an inheritance if this is important to you.

No, the cash released is yours to spend on whatever you like. Holidays, home improvements and helping family and friends are some of the popular ways in which our customers choose to spend their money.

Key Retirement recommend Equity Release Council approved plans which guarantee you the right to stay in your home for life. This applies to both lifetime mortgages and reversion plans.

Yes, but it will be a condition of the plan provider that the equity release is first used to repay the outstanding mortgage.

You should expect to be able to move house in the future if you wish, subject to you either repaying the amount secured within your plan plus any early repayment charges, or transferring the plan to your new property. Each provider has specific criteria that apply concerning moving home, so you should check this when you take out a plan. 

The amount of money you are able to release from your property will depend upon a number of factors such as your age, property value, health and lifestyle. For an instant online quote, try our free equity release calculator.

Unless you decide to go ahead, our service is completely free of charge, as our typical advice fee of 1.65% of the amount released would only be payable on completion of a plan. Plus you are likely to incur costs for surveyor’s fees and solicitor’s fees, although some providers may make a full or partial contribution.

Unless you choose to take out an interest payment plan, there will be nothing to pay towards your equity release until you pass away or move into long-term care. The total amount owing to the provider will then be paid from the sale of your property.

No as we recommend plans which come with a no negative equity guarantee, which means you can never owe more than the value of your home. 

It is important to involve your family in any financial decision which will reduce the value of the inheritance left to them. We find that most families are incredibly supportive of their loved ones’ decision to take out an equity release plan to boost their retirement finances.

We actively encourage each of our customers to invite as many family members or friends that they wish to their free equity release consultation, enabling everyone to get a full picture of equity release before any decisions are made.

If your equity release plan was taken out jointly with your partner, they would be able to continue living in the property without impacting your means test for long-term care fees.

If your equity release plan is solely in your name, your home would be sold and the equity release provider would receive the money owing to them from the proceeds.

If you have a joint plan and your partner survives you, then your equity release will not be affected and they will be able to remain in your home for as long as they choose.

If your equity release plan is in your name only, your house will be sold and the equity release provider will take its money from the sale proceeds. The remainder will go to your estate.

Equity release advice is fully regulated by the Financial Conduct Authority (FCA), ensuring all advisers follow strict rules and guidelines with the FCA keeping a record of all approved firms.

Latest reviews

Key Retirement Solutions

5 stars

An excellent service, responsive and honest. Everyone I dealt with was polite and courteous.

Mr Robert Pickard - 44 minutes ago

Our customers rate us

This is an equity release plan. To understand the features and risks ask for a personalised illustration.

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