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Mythbusters

Separate fact from fiction and feel confident in your equity release knowledge. Our mythbusters are here to help you get all the facts

You are able to move home with all our plans, subject to criteria

More on moving home

You don’t have to make monthly repayments with any of our plans, as the loan, plus roll-up interest, is repaid when the plan comes to an end

More on repayments

All our plans come with the no negative equity guarantee, meaning your children can’t inherit any debt through equity release

More on inheritance

Equity release comes with a range of safeguards and protections and we are members of the Equity Release Council

More on protection

With a lifetime mortgage you’ll always retain ownership of your home, so you can stay in your home for as long as you wish

More on ownership

Lifetime mortgage benefits

Your specialist equity release adviser will explain:

  • You can unlock cash from your home, tax-free, to help meet your needs in later life
  • You’ll always retain full ownership of your home and can stay in it for as long as you wish with a Key lifetime mortgage
  • You can choose to make reduced or no monthly repayments to suit your circumstances
  • You’ll never owe more than your home’s worth with a Key lifetime mortgage
  • You may be able to remortgage your plan in the future to release further funds or secure a better interest rate, although this isn’t guaranteed and may be subject to early repayment charges

Drawbacks

Your equity release adviser will also outline the following important things to think about:

  • A lifetime mortgage is a loan secured against your home and subject to compound interest, meaning the amount you owe can grow quickly
  • Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits
  • Equity release may leave you with limited or no property equity remaining
  • Equity release will reduce your financial options in the future
  • A lifetime mortgage is a long-term financial product and is not designed to be fully repaid until the death or entry into long-term care of the last remaining borrower, otherwise early repayment charges may apply

Want to know more?

Get all the facts about equity release by downloading our free guide to read straight away.

Explore how Key could help you put the life in later life.

Download now

Things to consider

  • All our equity release advice relates to Key lifetime mortgages only - a loan secured against your home
  • The loan, plus compound interest, is typically repaid through the sale of the property when the last remaining applicant passes away or moves into long-term care
  • Our fixed advice fee of £1,299 is only payable on completion

Here to help when you're ready

Use our free calculator

Find out how much tax-free cash you could release from your home now with our equity release calculator

Use our calculator

Speak to an adviser

Book an appointment with a specialist equity release adviser at a time that's good for you

Book an appointment

Assess your options

Our later life mortgage finder helps you consider your options

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Page last updated: Monday 16 December 2024

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