Which Banks Do Equity Release in 2026?

Quick Summary

Most high street banks no longer offer equity release directly. However, this does not mean equity release is difficult to access. 

Specialist lenders now dominate the market, often with more flexible product offerings, and greater expertise. You can apply directly, speak to a qualified equity release adviser, use a broker, or be referred through a bank partnership.

This guide explains who currently offers equity release, why banks largely stepped away, and how to explore your options safely.

Do Banks Offer Equity Release in 2026?

Equity release allows homeowners aged 55 or over to unlock some of the money tied up in their home without having to move. With many lifetime mortgages, monthly repayments are optional rather than required. The most common type is a lifetime mortgage, which is a loan secured against your property. The loan and interest are usually repaid when you die or move permanently into long-term care. 

In 2026, most major high street banks do not offer equity release directly. This includes names many people naturally think of first, such as Barclays, HSBC, Lloyds, NatWest, Santander and TSB. Some banks may still have referral routes, historic books of business, or partnership arrangements, but the main providers are now specialist later life lenders.

This may surprise homeowners who expect to arrange later life borrowing through the same bank they use for their mortgage, savings or current account. 

In practice, the market has moved because equity release needs detailed advice, specialist underwriting and long-term customer support. 

The good news is that equity release remains widely available. A group of specialist lenders have stepped into the space and have developed products that are more flexible and sophisticated than the bank-led products of the past. 

Why Don't High Street Banks Offer Equity Release? 

Banks like Barclays, HSBC, Lloyds, NatWest, Santander, TSB, Metro Bank and Nationwide were more active in the equity release market in the 1990s and early 2000s. Across the next two decades, most high street banks exited the sector. Several factors drove this:

• Regulatory complexity: Equity release is heavily regulated by the FCA, making compliance demanding.

• Specialist underwriting: Lifetime mortgages require health, property and long-term risk assessments that differ from standard mortgages.

• Reputational risk: Historic mis-selling concerns made banks cautious about being linked to the sector.

• Profitability and scale: Equity release serves a smaller market than mainstream mortgages, making it less attractive to large banks.

• Specialist advice requirements: Equity release needs qualified advisers, which many banks no longer maintain in-house.

• Post-2008 regulation: Stricter capital rules after the financial crisis made long-term lending less appealing.

Notable exits over this period included Scottish Widows, and Abbey. By the mid-2010s, the market had largely consolidated around dedicated equity release specialists. 

This does not mean equity release is unavailable or that consumers are worse off. It means you are now more likely to deal with specialist lenders whose products are built specifically for later life borrowing and designed to meet the needs of older homeowners. 

Who Actually Offers Equity Release in 2026?

Equity release in 2026 is mainly offered by specialist later life lenders rather than high street banks. Many are members of the Equity Release Council and provide lifetime mortgages for homeowners aged 55 and over, although eligibility, property criteria, rates and plan features vary.

• Legal & General is one of the UK’s most prominent later life lending providers. It offers lifetime mortgages, drawdown options, optional-payment products and enhanced plans, plus a Payment Term Lifetime Mortgage from age 50. Standard lifetime mortgage eligibility usually starts at 55. Minimum property values are from £70,000 or £100,000 depending on property type. You can apply online or through an adviser.

• Aviva offers lifetime mortgages for homeowners aged 55 or over, with homes worth at least £75,000. Its options include lump sum borrowing and cash reserve options. Customers can use its online calculator, request a guide or speak to an adviser.

• Canada Life offers flexible lifetime mortgages, including Capital Select and Lifestyle Select options. Its 2026 Advantage range introduced discounted rates for customers willing to make regular monthly interest payments. They have been active in developing flexible features, including voluntary repayment options and enhanced products for customers with health conditions. 

• LV= offers lump sum and drawdown lifetime mortgages, with features such as voluntary repayments, downsizing protection and inheritance protection on selected plans. Applications are made through advice.

• Just offers its Just For You Lifetime Mortgage range, including lump sum, drawdown and monthly interest payment options. It may suit customers who qualify for medically underwritten plans based on health or lifestyle factors.

• More2Life provides lump sum and drawdown lifetime mortgages for homeowners aged 55 years and older. Its plans may include fixed rates, voluntary repayments and enhanced borrowing on some plans. Applications are usually arranged through a qualified adviser.

• Pure Retirement offers lifetime mortgages as a lump sum or drawdown facility. Some plans also include interest-servicing options, which may help reduce the amount of interest added to the loan.

• Crown Equity Release differs from most providers because it specialises in home reversion plans, where you sell part or all of your property rather than taking a lifetime mortgage.

• Saga also offers equity release, but through a partnership with HUB Financial Solutions rather than acting as the lender itself.

As a guide, recent 2026 market examples show rates from around 6.23% MER. The rate you are offered will depend on your age, property, health, borrowing amount and chosen product.

How To Find Out If Your Bank Offers Equity Release

It is worth checking directly with your bank, even if the answer is likely to be no. Here is how to approach it:

Step #1: Contact Your Bank Directly

• Call your bank’s main customer service number or visit a local branch. 

• Ask to speak to the mortgage team or specialist lending department. General banking staff may not know the full later life lending options. 

• Useful questions include: “Do you offer equity release or lifetime mortgages directly?” and “Do you refer customers to a specialist equity release partner?” 

• Mid-morning or early afternoon can be quieter times to call.

Step #2: Check Their Website

• Look in the mortgage, later life lending or retirement borrowing section of your bank’s website. 

• Search for terms such as “equity release”, “lifetime mortgage”, “later life mortgage” or “retirement mortgage”. 

• Check whether the bank offers a product directly, refers customers elsewhere, or only provides general guidance.

Step #3: Ask About Partnership Arrangements

• Some banks do not provide equity release themselves but refer customers to a specialist lender or adviser. 

• Ask who the partner is, whether the bank handles any part of the application, and whether you are free to compare providers.

Step #4: Verify Regulatory Status

• If a bank, adviser or partner says they offer equity release, check they are authorised on the FCA Register and have permission to provide the service you need. 

• FCA authorisation means the firm is regulated to provide financial services in the UK. 

• Be cautious of any company that pressures you to proceed quickly, avoids written information, or cannot prove it is regulated.

What To Expect:

Most banks will say they do not offer equity release directly. They may refer you to a partner lender or suggest speaking to a qualified adviser. This is a normal and expected response. It does not mean equity release is unavailable or that you aren’t eligible. 

Your Options for Getting Equity Release

Once you have confirmed that your bank is not offering equity release directly, you have several legitimate and regulated routes available to you. 

Option #1: Direct to a Specialist Lender

Apply online or by phone without using your bank. You can compare lenders yourself, although completion may take around 6 to 8 weeks.

Option #2: Through an AdviserA regulated adviser compares providers, explains costs and checks suitability. They are often paid by the lender, while others charge a fee only if you proceed. You can check them on the FCA Register.

Option #3: Through a Mortgage BrokerSome brokers specialise in later life lending and can compare equity release with other mortgage options.

Option #4: Through Your Bank’s Partner LenderYour bank may refer you to a partner lender.

Option #5: Through a Comparison ServiceServices such as Simply Equity Release offer calculators for an initial assessment and no-obligation guidance.

There is no obligation to proceed at any stage, and no reason to rush. Taking time to compare options and understand the product fully is always in your best interests.

Questions to Ask Any Provider or Adviser

Before choosing a route, ask whether the firm is authorised by the FCA and whether its plans meet Equity Release Council standards. Check what type of equity release is being recommended, whether the rate is fixed, what fees apply, and whether voluntary repayments are allowed. You should also ask about early repayment charges, inheritance protection, downsizing protection and whether the plan could affect means-tested benefits. 

Be cautious if a company pressures you to proceed quickly, avoids written communication or cannot clearly explain the costs.

Ready to Explore Equity Release Options? 

If your bank does not offer equity release, you still have several routes available. You can compare specialist lenders, read provider reviews, use an equity release calculator, or speak to a qualified adviser.

The best approach is not to rush. Equity release can be useful for some homeowners, but it is a long-term financial decision. It can affect your estate, your family’s inheritance, your benefits and your future choices.

Before deciding, compare plans, ask clear questions and make sure you understand the full cost. Professional advice can help you work out whether equity release is suitable, or whether another later life lending option may be better.