What is equity release?

Equity release is a means of releasing a tax-free lump sum from the equity locked in your home.

There are typically no monthly repayments to make. Spend the money on anything you like from helping with the costs of living, to helping grandchildren onto the property ladder, to making home improvements or even travelling and seeing the world!

Taking out an equity release plan will reduce the value of your estate and could affect your entitlement to state benefits.

Who can take out a plan?

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 £60,000.
  • 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.

Popular tools and services

Rated No. 2 of 421 in Money

Rated No. 2 of 421 in Money

Our customers rate us

Latest reviews

the right decision.

everything moved so quickly,i now have peace of mind and can stay in my home as long as I wish. excellent service, a big thank...

Ms Dowding - 2 hours ago

Read review on Trustpilot

good clear information delivered professionally

We chose key retirement because they look at the best option for you looking at a range of providers. Very professional service. Must say Led...

Elizabeth lord - 2 hours ago

Read review on Trustpilot

Key Retirement were superb.

I was considering equity release but had so many concerns and worries that i did not know what I was going to do. I read...

mrs martin - 4 hours ago

Read review on Trustpilot

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.