At a glance:
Product type: Lifetime mortgage (SunLife Lifetime Mortgage, Sunrise plan, provided by Standard Life Home Finance).
Eligibility: UK homeowner, age 55+, property worth at least £70,000.
Loan types: Lump sum or drawdown.
Safeguards include: No negative equity guarantee, portability, optional inheritance protection, and aoluntary repayments allowed.
Use of funds: Home improvements, debt repayment, income top ups, gifting to family.
Product type
SunLife Lifetime Mortgage
Eligibility
55+ and £70k+ property
Loan types
Lump sum or drawdown
How It Works
SunLife’s equity release product is a lifetime mortgage. You borrow money secured against your home while retaining full ownership. Interest is charged on the amount released, compounding over time. The loan plus interest is usually repaid when you die or move into long-term care, normally from the sale of your home.
You can choose between:
- Lump sum: take the money all at once.
- Drawdown: take an initial amount, then smaller sums later from a reserve. Interest only applies to the money released.
From the start, you can make voluntary repayments of up to 10 percent per year to reduce the total cost, although you are not required to.
Safeguards
SunLife’s equity release includes the key protections expected from an Equity Release Council member.
- No negative equity guarantee you will never owe more than the value of your home.
- Inheritance protection option ring-fence part of your home’s value for your family.
- Downsizing protection after around 3 years, you can repay in full with no penalty if you move to a property that does not meet lending criteria.
- Portability you can move home if the new property is acceptable to the lender.
Rates: What to Expect
SunLife does not publish fixed public rates, as they are highly personalised. Your interest rate depends on your age, property value, loan amount, and any plan features you select.
Market context (Sept 2025):
- Lowest lifetime mortgage rates are in the region of 6.39 percent to 6.51 percent MER.
- Average advertised rates are closer to 6.89 percent MER.
- Rates are typically lower for older borrowers, smaller loans, and drawdown plans.
Important: These figures are illustrative for the market and not specific to SunLife. Your personal rate will be confirmed in a tailored quote. SunLife requires regulated advice before applying to ensure suitability.
Customer Feedback
SunLife is highly rated by customers for clear information and reliable service.
- Trustpilot: 4.8★ (20,894+ reviews, Sept 2025)
- Feedback themes: ease of process, helpful staff, peace of mind.
“Very clear and professional, everything was explained in simple terms.”
Karen Lewis, Trustpilot, July 2025
“The team made what felt like a daunting process straightforward and stress-free.”
Michael Grant, Trustpilot, Aug 2025
SunLife Equity Release Pros and Cons
| Pros |
Cons |
- Trusted brand with long UK history
- Backed by Standard Life Home Finance
- Lump sum and drawdown flexibility
- No negative equity guarantee
- Optional inheritance protection
- Excellent customer feedback, 4.8★ Trustpilot, Sept 2025
|
- Only one provider's product, tied offering
- Reduces inheritance and may affect benefits
- Interest compounds unless voluntary repayments are made
- Early repayment charges may apply
|
SunLife vs Age Partnership
SunLife is a direct provider, offering only its own branded plan, the Sunrise Lifetime Mortgage via Standard Life Home Finance. If you go to SunLife, you will only see this option.
Age Partnership, by contrast, is a specialist broker. They compare deals across multiple market-leading lenders, including SunLife, to find the plan and lender that best fits your needs. For homeowners who want the reassurance of a household name, SunLife is a solid choice. For those who want to weigh up several providers, Age Partnership offers a whole-of-market view.
You can use our equity release calculator here:
| Feature / Provider |
SunLife |
Age Partnership (Broker) |
| Type |
Lifetime mortgage, Sunrise plan via Standard Life HF |
Broker comparing multiple lenders, including SunLife and Aviva |
| Eligibility |
55+, UK homeowner, property at least £70k |
Matches lender criteria |
| Loan Options |
Lump sum or drawdown |
Depends on lender chosen |
| Safeguards |
No negative equity guarantee, inheritance protection, portability, voluntary repayments |
Dependent on chosen lender |
| Rates Context |
Illustrative 6.39 to 6.51 percent MER, average around 6.89 percent, personalised quotes required |
Finds best rate across market-leading lenders |
| Trustpilot |
4.8★ (20,894+ reviews) |
4.9★ (9,200+ reviews for service quality) |
| USP |
Familiar household brand for over-50s customers |
Whole-of-market advice, personalised comparisons |
| Best For |
Those wanting a trusted name and simple, direct route |
Those wanting to compare all major lenders in one place |
Note: SunLife’s equity release is a branded product. The SunLife Lifetime Mortgage, Sunrise plan, is underwritten and administered by Standard Life Home Finance. This means SunLife markets the plan, while Standard Life provides and manages the mortgage. Rates are illustrative only, Sept 2025, and will vary. Always obtain a personalised, regulated quote.
Conclusion
SunLife offers a straightforward and trusted route into equity release, with flexible options, strong safeguards, and excellent customer feedback from tens of thousands of people. For homeowners who value dealing directly with a familiar name, its Lifetime Mortgage, Sunrise plan, is a credible choice.
That said, equity release is always a highly personal decision. Rates and terms vary widely between lenders, so if you want to compare the market more broadly, a broker such as Age Partnership can help you weigh SunLife against other leading providers to find the most suitable deal for your needs.