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Benefits and drawbacks of equity release
It's important you have all the facts available to make the right decision for you.
Watch our video to find out more about the benefits and drawbacks of equity release.
Video transcript (pdf)
What is an equity release calculator?
Our equity release calculator shows how much you could release from your home's value with a lifetime mortgage - a loan secured against your home. You'll need to give us some basic details about you and your property. We can then get your instant, no obligation equity release results.
You can use our free UK equity release calculator in 3 easy steps:
As well as the amount you could release tax-free, your equity release estimate includes:
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An optional property eligibility check
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The chance to arrange a no-obligation consultation with one of our expert advisers
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Info on other options, costs, and the flexible features of Key's equity release plans
Use our UK equity release calculator to get a quick estimate.
How much could I release using Key's equity release calculator?
Key equity release customers had access to £78,334 on average
Key Market Monitor 2023
The amount you could release is a percentage of your home's value (loan to value, or LTV). This varies between people and properties and is personal to you.
Try our equity release calculator to quickly see how much you could release from your home.
Our equity release calculator uses two things to work out how much home equity you could release:
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Age: You must be aged 55+ to be eligible. If you apply as a couple, the youngest person's age will determine how much you could release.
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Property value: You must be a UK homeowner with a property worth at least £70,000. A higher value usually results in a higher release.
ⓘ If you're not sure of your property value, you can get an estimate on Rightmove or Zoopla.
Not eligible yet?
Try our later life mortgage finder. We could still help you take control of your later life finances.
The lowest amount you can release is £10,000. Here's our minimum borrowing limits:
| Product |
Lump sum lifetime mortgage |
Drawdown lifetime mortgage |
|---|---|---|
|
Minimum initial loan |
£10,000 |
£10,000 |
|
Minimum drawdown |
N/A |
£500* |
*or the full balance if this is less than £500
There are different types of equity release which help thousands of UK homeowners take control of their later life finances. Here are some useful links to see if equity release could be right for you:
For more information on your later life options, read our free, comprehensive guide today.
Key is a specialist, award-winning later life mortgage provider for the over 55s. We've helped over a million customers see if equity release was right for them. After we take the time to understand your needs, we'll recommend the right later life option for you.
Customer stories
Don't take our word for it - see what our equity release customers are saying...
Michael and Carol
64 & 63, approaching retirement
"All the worries and the stresses have gone now. We can just look forward to having a nice relaxing retirement…We’re planning to go away on a couple of cruises."
Read more on Michael and Carol
Watch more of our customer stories
Read more on Michael and Carol
Watch more of our customer stories
Your other options with Key
Key offers alternatives to equity release such as a retirement interest-only mortgage or retirement repayment mortgage. If another product is more suitable, including home reversion, we'll refer you to a different adviser within Key Group to help. If you go ahead, you'll only be charged the same £1,299 advice fee you'd pay with us, even if their fee is usually higher.
Other options to think about
It's important to know your other options before going ahead with equity release. These include: downsizing, unsecured lending, using existing assets, or support from friends or family.
Read our equity release articles
Read our RetireWise articles to learn more about how equity release works and whether it's right for you.
Page last updated: Thursday 17 October 2024