Is Equity Release Right For Me?

When it comes to Equity Release, we all have questions. Key have developed a short video to explain what equity release is and how it works, or you can read on below for answers to your 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. Key’s range of equity release plans involve lifetime mortgages which is a loan secured against your home, reducing the value of your estate & may affect your entitlement to means-tested benefits.

And will I still own my home?

Yes – and with Key’s plans you can stay in it for as long as you like subject to your plan terms and conditions apply. However, you should always think carefully before securing a loan against your home.

Will we have to make monthly repayments?

No – Key Equity Release plans involve a lifetime mortgage, which is a loan secured against your home. There are typically no monthly repayments as the loan, plus roll-up interest, is repaid when the plan ends.

Could our family inherit the debt?

No – all of Key’s plans come with a ‘no negative equity’ guarantee, so you’ll never owe more than your home is worth and there’ll never be an equity release 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. Key customers had access to £90,298 on average between Jan and June 2019.

What do people usually use the money for?

Key customers spend the tax-free cash they release for many different things – some of the most popular are travel, home improvements and repaying existing debts.

Is Equity Release safe?

Yes. We are members of the Equity Release Council and authorised and regulated by, the Financial Conduct Authority. You need to receive qualified advice before committing to Equity Release, which is exactly what you get from Key.

So, what’s different about Key?

Because Key takes a personal and honest approach to Equity Release, they can answer all your questions. Key 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 at keyadvice.co.uk/drcalc to find out how much cash you could release in seconds

• Order your free myth-busting guide by calling 0800 408 7166 or visiting keyadvice.oc.uk/drguide.

Key – Equity Release that’s right for you.

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