Jump to:
*Updated 3rd October 2024*
Currently, the lowest equity release interest rate is 5.51% (as at 3rd October 2024). Use the table below to compare equity release interest rates from some of the UK’s leading lifetime mortgage lenders. Other schemes are also available so it’s worth speaking to an equity release specialist like Age Partnership who can compare lifetime mortgage interest rates across a wide range of market leading companies.
5.81%
Please note: Rates correct as at 3rd October 2024. Rates vary by provider, depend on your personal circumstances and whether you prefer a cash lump sum or an income. LATEST OFFER: 5.51% MER special deal through Age Partnership when you use our calculator.
To compare equity release schemes you first need to establish your requirements. For example:
As well as comparing equity release interest rates, it’s important to consider other factors such as early repayment charges and any incentives or cashback offers in place that make the offer more appealing.
Your personal data will be held & used as described in our Privacy Policy. When you click on the button you are confirming that you are happy for us & Age Partnership to contact you via email for this service.
When you click on the button to calculate results you will see how much cash you could release from your home. Age Partnership may phone you regarding their equity release service.
Thank you - we have emailed you a brochure
According to the Equity Release Council, the average interest rate is currently just over 6%, based on lifetime mortgages across the UK. The best interest rate today is 5.50% MER. Subject to suitable eligibility criteria including age and property type.
To find the best interest rates on equity release, it helps to get the right advice from a specialist. They will explain how releasing equity from your home could work for you, help you consider alternative options and compare schemes.
However, be aware that some specialists are tied to a select number of companies, so only able to compare their plans. To get the best equity release advice it can help to use a broker or IFA who compares schemes across a wide range of providers.
Also, some advisers will charge for their initial advice while others will provide it for free, only charging a fee if you decide to go ahead.
So compare the cost of advice from brokers as this could also save you money.
Age Partnership is one of the UKs leading equity release specialists. They compare equity release plans across a wide range of leading UK providers and their initial advice is free. They have agreed special rates with lenders you may not be able to get elsewhere, as well as extra incentives.
To see how much equity you could release from your home, use our free and easy to use calculator.
Or for free advice from equity release specialist Age Partnership, call 0800 368 8466 or ask for a call back.
What are the pros & cons of equity release? Alongside the benefits, there are some important ‘catches’ to consider before deciding if it's right for you.
Take a look at these alternatives to equity release, including downsizing your home, remortgaging to release equity, retirement interest only mortgages and more.
Did you find this information helpful?
Our aim is to provide you with clear and accurate information to help you research your chosen financial products and services. The material on this site is for general information only and does not constitute any form of advice or recommendation.
If a link has an * by it, it means it is an affiliated link to an insurance company or broker that may result in a payment to the site. Should you use the equity release calculator, speak to an Age Partnership adviser and take out a plan out using their services, we receive a commission, however this will not affect the price you pay.
Also, from time to time you may see advertisements from third party companies who pay us a fee to advertise their services on our site.
None of the above arrangements constitute advice or recommendations, as other products and companies are available. You should always obtain independent, professional advice for your own situation.
The information provided on this site is accurate at the date of publication, occasionally however, things will change before we have had the opportunity to update them, so please do check. Always do your own research and take independent advice.
We do not investigate the solvency of any company mentioned on our website and are not responsible for the content on websites we link to.
Simply Equity Release is a member of the Equity Release Council and part of the Over50choices Group who is regulated by the FCA (No.594280) for insurance products.