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Compare Equity Release Schemes

See below for a selection of equity release schemes from leading UK lenders. You can search based on lender, rate, minimum age, minimum value of property, minimum loan, maximum loan to value (LTV) and whether you can move the schem from one home to another.

For an indicative quote based on your age and property value see our equity release calculator »

Details Sort by rate termLenderRateMin ageMin property valueLoans fromMax LTVPortable Enquire
Lender: Just Retirement
Rate term: 6.75%
Min age: 60 years
Min property value: £70000
Loans from: £10000
Max LTV: 52%
Portable: No
6.75% 60 years £70000 £10000 52% is portable get quotes
Lender: Just Retirement
Rate term: 6.85%
Min age: 60 years
Min property value: £70000
Loans from: £10000
Max LTV: 52%
Portable: No
6.85% 60 years £70000 £10000 52% is portable get quotes
Lender: Just Retirement
Rate term: 6.20%
Min age: 60 years
Min property value: £70000
Loans from: £10000
Max LTV: 45%
Portable: No
6.20% 60 years £70000 £10000 45% is portable get quotes
Lender: LV=
Rate term: 5.79%
Min age: 60 years
Min property value: £70000
Loans from: £10000
Max LTV: 50%
Portable: No
5.79% 60 years £70000 £10000 50% is portable get quotes
Lender: LV=
Rate term: 6.19%
Min age: 60 years
Min property value: £70000
Loans from: £10000
Max LTV: 50%
Portable: No
6.19% 60 years £70000 £10000 50% is portable get quotes
Lender: More 2 Life Ltd
Rate term: 6.08%
Min age: 60 years
Min property value: £70000
Loans from: £10000
Max LTV: 45%
Portable: No
6.08% 60 years £70000 £10000 45% is portable get quotes
Lender: AVIVA
Rate term: 6.19%
Min age: 55 years
Min property value: £75000
Loans from: £10000
Max LTV: 45%
Portable: No
6.19% 55 years £75000 £10000 45% is portable get quotes
Lender: Newlife
Rate term: 5.99%
Min age: 55 years
Min property value: £70000
Loans from: £10000
Max LTV: 51%
Portable: No
5.99% 55 years £70000 £10000 51% is portable get quotes
Lender: Newlife
Rate term: 5.99%
Min age: 55 years
Min property value: £70000
Loans from: £10000
Max LTV: 49%
Portable: No
5.99% 55 years £70000 £10000 49% is portable get quotes

Your home may be repossessed if you do not keep up repayments on your mortgage.

Notes: * Rate will depend on age

Equity Release Schemes

With the cost of living increasing all the time managing life on a fixed pension income and relying on savings interest represents a real challenge for many Britons who have reached retirement age.

However, with the property boom over the past decade many retirees will have built up significant value in their homes they might not even be fully aware of.

For those aged 55+ equity release schemes provide a viable way of boosting retirement income for people who are "property" rich but "income poor' by making use of the equity tied up in their property.
 
Two main types of equity release schemes offering either a lump sum payout or a regular monthly payment are available:

For an indicative quote use our equity release calculator »
 

1. Lifetime mortgages

A loan in form of a mortgage is secured on your house.The loan capital is paid out to the homeowner in a tax-efficient way.


Advantage: the homeowner retains complete control over the property

Disadvantage: interest is payable or rolled up on the loan, in which case the accumulated interest will be repaid with the loan when the house is sold or on death
 

2. Home reversion schemes

The whole or part of the property is sold to a home reversion company. The homeowner can live in the property rent-free. The capital paid out can be used as a tax-efficient income.


Advantage: no interest is payable or rolled up, no need to be concerned over future house prices

Disadvantage: the plan holder has to give up part or all of his ownership rights to the property

Both types of equity release schemes might be suitable for different homeowners; however, either of them will provide homeowners who are prepared to make use of the equity locked in their property with a much needed retirement income.


Some of the expenses could include:

  • Administration or arrangement fees
  • Valuation fees
  • Legal costs
  • Early repayment charges


Use our equity release quotes service to get independent quotes and advice.

For an indicative quote use our equity release calculator »

Before you apply…

Make sure you qualify

Permanent UK resident
Minimum age
Minimum property value
Available in England
Available in Scotland
Available in Wales
Available in Northern Ireland