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0800 531 6027

How does equity release work?

If you're thinking about releasing equity from your home then our experts can guide you through the process at your pace. You will never be under any obligation to proceed and we will only recommend it if it's right for you.

To qualify for equity release

You must...

  • Be aged 55 or over – both applicants if couple
  • Own and live in the property you wish to release equity from
  • Be able to release enough equity from your property to enable you to fully pay off any outstanding mortgage or secured loan

Your property must be

  • Valued at least £70,000
  • In the UK (including Northern Ireland)
  • Either freehold or leasehold, with a minimum lease period of 75 years remaining
  • Of standard construction and in good condition

Ask the expert

Key's Technical Director, Dean Mirfin, explains the process of equity release.

Customer stories

Richard Simmons shares his journey of taking out an equity release plan.

What happens next?

Releasing cash from your home is a big decision to make. You should research all your alternatives and decide what finances you need in retirement. If you do decide you want to explore equity release further you should follow these what happens next steps to be sure that it's right for you.

Speak to an expert

A specialist will answer initial questions you might have and arrange a consultation with an independent equity release adviser

Talk to your family

We encourage you to discuss equity release with your family and invite them along to appointments

First appointment

A dedicated adviser will discuss the options available and find out more about your particular circumstances and requirements

Finding the right plan

Should you decide to proceed, your adviser will search the whole of the market to find you the most suitable plan for you

Second appointment

Your adviser will present their recommendation and answer any questions you may have. Your adviser will also provide a personalised illustration

Starting the paperwork

Should you decide to proceed, the paperwork will be submitted to the plan provider and your property will be valued by an independent surveyor

Offer issued

The provider will issue an offer including full terms and conditions of your plan for your approval


Independent solicitors acting on your behalf will cover the legal aspects

Complete in 8-12 weeks

Although a timescale cannot be guaranteed, this is the typical time it takes from application to completion

Money released

Time to start enjoying the money released, spending it on whatever you choose to!

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

Key promise

Customer satisfaction is at the heart of everything we do; we pride ourselves on being independent, transparent, supportive and straightforward. We're passionate about helping you to make the most of your finances when you’re in or approaching retirement.

0800 531 6027

Monday - Thursday, 9.00am - 8.00pm

Friday, 9.00am - 5.30pm

Saturday, 9.00am - 5.00pm

Sunday, Closed - all day