Age UK Equity Release Review

Updated 9th January 2024 - I have reviewed AgeCo to help you understand more about the company and the services they offer. Here’s what I found:
  • Equity release plans available from select panel of providers
  • You must be 55 or over and own your own home worth at least £70,000
  • The Age UK equity release service is provided by retirement specialists HUB Financial Solutions

Please note that currently the Age Co Equity Release Service is not available to new customers - correct as at January 2024 - the details here refer to the product that was last available, we will keep you updated as and when this changes. If you would like advice on other providers plans please see our compare equity release guide.

Age Co is a leading provider of equity release and whilst we don't offer their schemes, we hope you find this review useful.

To see how they compare with other companies read our equity release reviews. Alternatively our equity release calculator will help you understand how much cash you could release from your home. 

Try the Over50choices Equity Release Calculator

About Age UK now trading as Age Co

Formed by the merger of Age Concern and Help the Aged, Age UK is the country’s largest charity dedicated to later life.

With shops, volunteers and a network spanning the UK, Age UK provide information, advice, health care and support for our aging population.

In addition to their charity work, Age UK also work with a number partners, providing a range of products aimed to assist later life; a number of which now come under the newly created Age Co banner. Age Co is the name currently used for some of these products which include insurance, funeral plans, legal services and equity release but over time, more of the Age UK products will move across to the new brand.

So Age UK equity release schemes sit within the Age Co brand and are provided by their partner Hub Financial Solutions who in turn a part of retirement specialist ‘Just’.

The Age UK Equity Release options

Age Co do not offer a specific equity release plans as such; instead they advertise the services of their recommended partner ‘Hub Financial Solutions’.

As part of the Just group, Hub has selected a number of providers to work with, namely:

  • Aviva
  • Bridgewater
  • Just
  • Legal & General
  • One Family

So when you contact Age Co about one of their lifetime mortgage plans, they will refer you to Hub who will talk through your requirements and compare schemes available with the above providers. Whilst it’s good that Hub Financial Solutions compare a range of companies, they do not compare the whole of the market so you are only getting an understanding of what is available through a limited number of loan providers.

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Are you eligible for the Age Co Lifetime Mortgage scheme?

Whether you are eligible for an equity release scheme will depend on the provider you choose however there are certain conditions that are fairly typical. These are as follows:

  • The youngest applicant must be 55 and own their own property
  • The property must be in the UK and worth at least £70,000
  • Your home must be built of standard construction

The amount of equity you can release will depend on your age, the value of your property and the loan provider however Hub will talk through your options and eligibility and advise you on the best scheme available within their panel of preferred lifetime mortgage companies.

Review of additional information on Age Co Equity Release schemes

As scheme information varies from company to company, additional information on Age UK equity release is limited. In general terms though, the following should apply:

  • You and your partner (if the plan is in joint names) can continue to live in the property until the last person dies or moves into permanent care.
  • If you have an existing mortgage you may still be eligible for Age Uk equity release; you will just need to pay off the outstanding debt with the money you release.
  • You have the flexibility to move home as long as the new property meets the approved criteria of the equity loan provider.
  • Hub only use companies that are members of the Equity Release Council. This means that any Age UK scheme you choose includes the all important ‘no negative equity’ guarantee which means you will never owe more than the value of your home.
  • In addition, equity release schemes are also regulated by the Financial Conduct Authority (FCA)

Age UK Equity Release Calculator

Although the amount you can borrow will depend on whether you choose a scheme with Aviva, Just, Legal & General or One Family, Age UK do provide an equity release calculator on their website that gives you an indication of how much this could be.

For example if you are a 65 year old living in a property that is worth £250,000, the Age UK Calculator estimates that you could release £87,750. You would of course need to speak to a Hub advisor for any further information.

What should I do now?  

Remember, when comparing plans, some advisers only work with specific companies. This is one of the reasons we have teamed up with leading specialist Age Partnership, as they compare schemes and have access to preferential rates with leading UK companies like Aviva, Pure Retirement, Just Retirement,Canada Life and Crown.

Continue your research here on how to calculate equity release on your property.

Alternatively you can read more equity release reviews here.

Ways to contact us

Call 08001337380
Call 0800 133 7656
Arrange a callback
Arrange a callback
Try the calculator
Try the calculator
Email us
Email us

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We work with

First Choice Health
Age Partnership

How this site works

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.

Over50choices is an independent company and regulated by the FCA (No.594280) for insurance products only and a member of the Equity Release Council.

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