We understand that releasing equity from your home is a big decision. To help you decide if it might be the right solution for you, we’ve reviewed the top equity release companies in the UK so you can quickly compare the most popular schemes on the market today.
We have chosen a mix of brokers and providers, some of whom offer their services directly to customers and some whose services are only available through a specialist broker. All the companies included in our equity release reviews are members of the Equity Release Council and authorised by the Financial Conduct Authority. Please steer clear of any companies that are not. Both regulatory organisations have a members list so you can check.
What we cover in our reviews
The services offered by each of the top companies will vary, so it’s important to get advice from a specialist. Our equity release reviews are designed to give you clear and straightforward information on:
- The company’s history and reputation
- Any awards or accolades they may have achieved
- The choice of products they offer
- Their eligibility requirements – e.g. how old you need to be, the value of your home
- Any extra details we believe might be useful to know
Top equity release companies reviewed
Age Partnership are specialist, independent equity release brokers who compare all types of equity release schemes on offer across the whole market. Their reputation and presence have enabled them to negotiate preferential rates that may not be available elsewhere.
Read our Age Partnership equity release review
Legal & General
Legal & General offer three Moneyfacts 5-star rated lifetime mortgages. A flexible mortgage that lets you draw down money as and when you need it, a repayment option that lets you repay some or all of the monthly interest and an income option, that lets you receive a monthly income over 10,15,20 or 25 years.
Read our Legal & General equity release review
Aviva offers a choice of two Moneyfacts 5-star rated lifetime mortgages. A lump sum mortgage lets you release a lump sum upfront with the option to borrow more later on, and a flexible mortgage with the added benefit of a cash reserve to draw on in the future.
Read our Aviva equity release review
Nationwide offers a choice of three mortgages suitable for later life borrowers, including a simple lifetime mortgage that lets you release a lump sum upfront. They also have a team of mortgage consultants who advise on Nationwide’s own products and services.
Read our Nationwide equity release review
Just (formerly Just Retirement)
Just offer a lifetime mortgage that lets you release a one off lump sum or an initial lump sum and extra cash when you need it. You can also pay off some or all of the monthly interest if you wish. This mortgage is only available through professional advisers, including HUB Financial Solutions, which is part of the Just Group.
Read our Just equity release review
SunLife has partnered with Age Partnership to offer equity release advice. This service offers independent advice on lifetime mortgages and home reversion plans from across the whole market, often with preferential rates.
Read our SunLife equity release review
LV = (formerly Liverpool Victoria)
LV= also offers an equity release advice service in association with Age Partnership as well as two of its own Defaqto and Moneyfacts 5-star rated lifetime mortgages. One that lets you release a lump sum upfront and a drawdown mortgage with the option to draw cash as and when you need it.
Read our LV equity release review
One Family equity release
One Family offers two lifetime mortgages. One that lets you pay off some or all of the interest each month, and one that lets you repay a proportion of the outstanding loan each year without incurring an early repayment charge. One Family also has its own advice service that compares lifetime mortgages from across the whole market.
Read our One Family equity release review
Equity Release Supermarket
Equity Release Supermarket has a team of advisers across the country who offer independent advice on lifetime mortgages, home reversion plans and other mortgages for the over 55s.
Read our Equity Release Supermarket review
Pure Retirement equity release
Pure Retirement equity release is available through IFA’s and brokers. Their Heritage and Sovereign schemes offer market leading rates, repayment options and drawdown facilities. In addition, the Sovereign range of Pure Retirement equity release schemes offers greater flexibility regarding the type of property the loan is secured against.
Canada Life equity release schemes offer a cash reserve facility allowing you to drawdown cash when required and an inheritance guarantee that ensures your family receives a percentage of your estate. In addition, some Canada Life lifetime mortgages let you make interest repayments or repay a percentage of the loan.
More 2 Life equity release
More 2 Life equity release schemes offer a range of features including enhanced rates for people with lifestyle or medical issues and inheritance protection. Plus, More 2 Life’s early repayment waiver allows you to repay your plan within 3 years of your spouse or partner dying or moving into care.
Responsible Lending equity release
Responsible Lending equity release schemes consist of a lump sum lifetime mortgage and a drawdown option. One of the newer equity release companies, Responsible Lending is headed by the former managing director of Prudential’s lifetime mortgages and made headline news offering the UKs lowest interest rates.
Once you’ve read our reviews, why not see how much cash you could unlock from your home with our easy to use equity release calculator. It’s completely free and there’s no obligation to proceed.
Always seek professional advice, but please be aware that some advisers only look at schemes from one or two providers, who may not offer the right product for your situation. For this reason, we recommend speaking to an independent adviser who looks at the whole market, like Age partnership. For impartial and independent advice on releasing equity from your home, call 0113 2093531 to speak to a specialist adviser.
And finally, before reaching a decision, please investigate alternatives to equity release, make sure you understand exactly what you will be committing to and discuss your plans with your family.
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