Is It Right For You?

Key believe that advice is only of value when it’s independent. Equity release can provide you with financial freedom, but it’s not always the right decision for everyone, which is why it’s essential that you get good independent advice.

At Key we believe in honest advice and offer a free initial equity release consultation with a personal independent adviser to assess your individual circumstances and will tell you whether an equity release plan would be the most suitable option for your needs, and also if it’s not. As with everything we do there is no obligation to proceed any further and you will never be under any pressure.

It is also important to consider the following points when thinking about whether to release equity from your home.

All equity release plans will reduce the value of your estate, so it’s important to involve your family and discuss your ideas with them. We welcome your family to attend any of your appointments. We find that the majority of families are positive and supportive of their parents’ decision to release equity.*
Equity release could affect your entitlement to some state benefits and may affect your tax position.Your adviser can find out what any effect might be, to help find the best solution for you.
Releasing cash from your home is a lifetime commitment and the loan is only expected to be repaid upon your death or entry into long term care. Early repayment charges may apply on some plans if you want to repay the loan early.
You could sell your home and move somewhere cheaper (but you may not want the hassle and expense of moving).
You could ask your family for financial assistance.
You could consider other forms of borrowing, such as loans or traditional mortgages (subject to affordability).
You could use other money you may have access to such as savings or investments.
All plans approved by SHIP (Safe Home Income Plans) allow you to move home if you wish, depending on the provider’s criteria and their approval of the new property.
Key Retirement Solutions offer a full advice and recommendation service for which we will charge a fee. This is only payable when you receive your cash and is typically 1.65% of the amount released. We do offer a free of charge, no-obligation, initial consultation with an independent adviser so that you can find out how much cash you could release and whether a plan would be suitable for you. If you choose not to proceed after this appointment no fee will be charged.

Our independent advisers are specialists in equity release and will apply their wealth of experience and expertise to help you to consider all of the above points, as well as talking you through the advantages and disadvantages of the various lifetime mortgages and home reversion plans available.

This is an equity release plan. To understand the features and risks, ask for a personalised illustration.

*Key Customer Care Questionnaire April 09