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.

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My experience with Key Retirement

Last August I made an enquiry about equity release with Key Retirement.The consultant I spoke to was Gareth Humphreys, We discussed what my options were...

Janet Norrie - 7 hours ago

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customer service

I was delighted with the service I received from Key Retirement in particular Chris who was a pleasure to deal with and most helpful,I would...

Leonard Lawrence - 13 hours ago

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Excellent Service

The equity release I applied for was dealt with very quickly and ran very smoothly. My advisor Paul Case explained everything very clearly to me...

Mrs D Finnemore - 16 hours ago

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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.