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What is equity release?
It’s a way for homeowners who are over 55 to release tax-free cash from their homes, without having to move. It’s an increasingly popular way for people in, or approaching, retirement to boost their finances.
- Available to homeowners aged 55 and over
- Release tax-free cash tied up in your home
- You can't release equity without taking expert advice
Find out how much you could release from your property.
Calculate now
Equity release explained
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Transcript
When it comes to equity release, we all have questions.
What, for instance, is it exactly?
Equity release is a way for homeowners over 55, whose property is worth at least £70,000, to release tax-free cash from their homes. It is an increasingly popular way for people in, or approaching, retirement to boost their finances.
And will we still own our home?
Yes – and with Key’s plans you can stay in it for as long as you like.
Will we have to make monthly repayments?
No, not unless you want to. The loan, plus rolled-up interest, will be paid back when your plan comes to an end.
Could our family inherit the debt?
No – all of Key plans come with a ‘no negative equity’ guarantee, so you’ll never owe more than your home is worth and there’ll never be a debt for your family to take on.
How much can we release?
This depends on your age, how much your house is worth and your general health. On average, Key customers have had access to £90,000.
What do people usually use the money for?
Key customers spend the tax-free cash on many different things, such as repaying existing debts, travel and home improvements.
Is equity release safe?
Yes. You need to receive qualified advice before committing to equity release, which is exactly what you get from Key. We are members of the Equity Release Council and authorised and regulated by, the Financial Conduct Authority.
So, what’s different about Key?
Because Key takes a personal and honest approach to equity release, we can answer all your questions. We have helped more than a million people decide if equity release is right for them and if it’s not right for you, we’ll tell you. And if it is, then we’ll take the time to understand your needs so we can recommend the right solution for you. And, what’s more, all of our advice is free of charge.
OK, how do we find out more?
Try our free online calculator or order your free myth-busting guide, both of which you can find online at keyadvice.co.uk.
Key - equity release that’s right for you.
What, for instance, is it exactly?
Equity release is a way for homeowners over 55, whose property is worth at least £70,000, to release tax-free cash from their homes. It is an increasingly popular way for people in, or approaching, retirement to boost their finances.
And will we still own our home?
Yes – and with Key’s plans you can stay in it for as long as you like.
Will we have to make monthly repayments?
No, not unless you want to. The loan, plus rolled-up interest, will be paid back when your plan comes to an end.
Could our family inherit the debt?
No – all of Key plans come with a ‘no negative equity’ guarantee, so you’ll never owe more than your home is worth and there’ll never be a debt for your family to take on.
How much can we release?
This depends on your age, how much your house is worth and your general health. On average, Key customers have had access to £90,000.
What do people usually use the money for?
Key customers spend the tax-free cash on many different things, such as repaying existing debts, travel and home improvements.
Is equity release safe?
Yes. You need to receive qualified advice before committing to equity release, which is exactly what you get from Key. We are members of the Equity Release Council and authorised and regulated by, the Financial Conduct Authority.
So, what’s different about Key?
Because Key takes a personal and honest approach to equity release, we can answer all your questions. We have helped more than a million people decide if equity release is right for them and if it’s not right for you, we’ll tell you. And if it is, then we’ll take the time to understand your needs so we can recommend the right solution for you. And, what’s more, all of our advice is free of charge.
OK, how do we find out more?
Try our free online calculator or order your free myth-busting guide, both of which you can find online at keyadvice.co.uk.
Key - equity release that’s right for you.
How is your figure calculated?
Our equity release calculator uses two main factors to quickly work out how much tax-free cash you could release:
- Property value: A higher property value will result in a higher equity release calculation. The minimum property value to be eligibile for equity release is £70,000
- Age of youngest applicant: If you are applying as a couple, the amount of equity you can release will be calculated based on the youngest applicant. Both applicants must be aged 55 and over to be eligible
Compare equity release plans
- After your initial calculation, where our calculator reveals how much you could release, you will be able to compare plans and the different rates that may be available to you
- Learn about the different features that may be an option for you, such an inheritance protection, that help to ensure your equity release plan is right for you
- All our plans meet the Equity Release Council standards and have a no negative equity guarantee
Things to consider
Your specialist equity release adviser will explain:
- You have to get advice before releasing tax-free cash from your home - please read all our information and make sure it's right for you
- Key Equity Release offer lifetime mortgages only, which is a loan secured against your home. It will reduce the value of your estate and may affect your entitlement to means-tested benefits
- All of our plans meet the Equity Release Council standards and come with several protections, including no negative equity guarantee, which means you'll never owe more than your home's value
- Our fixed advice fee of £1,299 is only payable on completion
You're in safe hands
All of our plans meet the Equity Release Council standards. With our plans:
- You have the right to remain in your home for as long as you choose
- You have the freedom to move to another property without financial penalty (subject to criteria)
- You will never owe more than the value of your home with the no negative equity guarantee
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Page last updated: Friday 06 January 2023