Mythbuster: "My home will be owned by somebody else"

Who will own my home?

At Key, we offer lifetime mortgages, which is a type of equity release where you always remain the owner of your property.
 

Your property remains your own

A lifetime mortgage is a loan secured against your home and doesn’t involve giving up home ownership.

This means you’ll still have the freedom to decorate and carry out home improvements as you usually would, including adding extensions such as a conservatory (subject to the usual planning permissions and lender agreement). In fact, many of our customers take out equity release to pay for home improvements.

However, it does also mean you remain responsible for the upkeep of the property.
 

Spend your funds in a variety of ways

When it comes to spending the tax-free cash you’ve unlocked from your home, it can be spent in a wide variety of ways. It could be for supporting someone close to you, taking a trip of a lifetime or as already mentioned, some long-awaited or much-wanted home improvements. The choice is always yours.

Stay in your home for life

No matter which type of equity release plan you choose, as long as it’s one that meets the Equity Release Council standards, you’ll be guaranteed the right to stay in your home until the plan comes to an end. This is usually when you, or the last remaining applicant either passes away or enters long-term care.

All of our plans meet the Equity Release Council standards and come with the guarantee you can remain in your home. If you are considering equity release we recommend that you read through is it right for me?


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