Is it right for you?

Our advisers are there to help you make an informed decision and will tell you straight away if equityThe cash value remaining in your home when all outstanding secured debts have been paid.  release isn’t the right option for you.

Some points for you to consider before you take out an equity release plan:

  • Releasing equity from your home is a lifetime commitment, and is only expected to be repaid when your home is sold, usually when you and your partner pass away or move into long term care. If you do decide to pay back early, early repayment chargesAs many equity release plans have interest rates which are fixed for life, a penalty may be levied by the lender if the loan is repaid before you and your partner either pass away or move into long-term care.Details of the early repayment charges specific to an individual plan will form part of your personalised illustration.  may apply.
  • Equity release may affect your entitlement to state benefitsMeans tested and non means tested benefits, distributed by government bodies, to which you may or may not be entitled.  and could affect your tax position. Our expert equity release advisers can find out what effect, if any, it would have to help you find the best solution for you.
  • All equity release plans will reduce the value of your estateThe value of your assets at the time of your death, after all debts and charges have been paid. .
  • We advise that you involve your family throughout the whole process so you can discuss your plans with them. We encourage you to invite your family members to attend your free no-obligation consultationA meeting with your equity release adviser, either in the comfort of your own home or over the phone. It is your opportunity to learn more about equity release, enabling you to make a fully informed decision about whether it’s right for you. , as an opportunity for them to ask any questions that they may have.
  • You should consider all of the alternatives before making a decision.
  • At Key we recommend plans which come with a number of guarantees to ensure your financial safety. This means that you will never fall into negative equity, are able to stay in your home for life and move to another property (subject to provider criteria).
  • Think carefully before securing other debts against your home.
  • Lifetime mortgages accrue compound interestInterest is calculated based upon the initial loan amount as well as the accumulated interest of previous periods of the loan.  and the amount you owe can grow quite quickly. Our equity release advisers can help you understand how it works before you make any decision.
  • At Key we offer a full advice and recommendation service to ensure you get the best plan possible. Unless you decide to go ahead, our service is completely free of charge, as our typical advice fee of 1.65% of the amount released would only be payable on completion of a plan.
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Did you know?

95% of families support their loved-ones decision to take out equity release.*

*Key Customer Care Questionnaire, Q4 2013.

This is an equity release plan. To understand the features and risks ask for a personalised illustrationThis is a document which sets out the details of your recommended plan as they apply to you, alongside the associated terms and conditions. .