Compare equity release interest rates

Compare equity release lifetime mortgage interest rates currently on offer from the leading providers and you could get a tax free cash sum to use as you wish.

The comparison table below shows you some of the best equity release interest rates on the market, all of which come with a no negative equity guarantee for your protection.

These are just a few of the lifetime mortgages available so when you are ready, we recommend you speak to an independent expert who can compare the b the whole equity release market on your behalf, free of charge.

Latest news September 2021: Equity release interest rates are at some of their lowest ever and will be fixed for the rest of your life - so now could be a good time to consider your options

Lifetime mortgage interest rates

Let's take a look at how the leading lifetime mortgage providers compare:

Provider Interest Rate APR Type Product How much cash could you release? More Information
Legal & General 2.97% 3.10% Fixed Drawdown Calculate Now Go to Review
Aviva 3.96% 4.00% Fixed Lump Sum Calculate Now Go to Review
Pure Retirement 2.84% 2.90% Fixed Lump Sum Calculate Now Go to Review
LV= 3.03% 3.00% Fixed Lump Sum Calculate Now Go to Review
Just 3.39% 3.40% Fixed Lump sum Calculate Now Go to Review
Hodge Lifetime 3.98% 4.20% Fixed Drawdown Calculate Now Go to Review
Canada Life 2.92% 3.07% Fixed Drawdown Calculate Now Go to Review
One Family 3.20% 3.40% Fixed Lump Sum Calculate Now Go to Review

Please note: Rates correct as at 21st April 2021. Rates vary by provider & depend on your personal circumstances and whether you prefer a cash lump sum or an income - LATEST OFFER September 2021 - 2.46% AER special deal through Age Partnership when you use our calculator*.

For your peace of mind..

Overchoices is a member of the Equity Release Council and regulated by the FCA. We recommend Age Partnership the UK's leading equity release specialist

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Equity release interest rates

Equity release interest rates range from 2.30% to 4%. Rates can either be fixed or variable with a capped limit. The cost of lifetime mortgages has reduced as interest rates are now lower than before. However, as the interest charged is compounded, lifetime mortgages remain significantly higher cost than standard mortgages.

The good news is that rates have continued to reduce throughout 2020 and 2021. So instead of paying as much as 7% for an equity release mortgage, you could now benefit from interest rates as low as 2.30%.

If you prefer to keep your interest rates on equity release low, some lifetime mortgages let you repay a percentage of the interest each year, so the loan won't be as high when it's repaid.

Also, by choosing a drawdown lifetime mortgage that lets you take an initial amount and further cash sums as and when you want, you’re only charged interest on the equity released, not the money held in reserve. The interest rate charged for each payment will depend on the rate at that time.

Find out more about how equity release interest works and the different types of lifetime mortgages available to you.

Find the best equity release interest rates

If you're considering unlocking money tied up in your home but want to understand more about the current interest rates available on a lifetime mortgage, then it's important to get advice from the experts.

Leading specialist Age Partnership compare equity release across the whole of the UK market, meaning they’re not limited to certain companies. What’s more, they’ve also agreed special rates and incentives with lenders you may not be able to get elsewhere.

They even offer a price beating guarantee that pays you £500 if you find a better like for like quote elsewhere; so what have you got to lose - Call 0113 2093531 and mention Over50choices.

An easier way to compare equity release schemes

If you are considering unlocking the money that is tied up in your home but want to know more about it, you’ll find a wealth of information right here at Over50choices. We can guide you through all aspects of both lifetime mortgage and home reversion plans; from understanding more about the different types of plans available, right through to the pros and cons.

You can also use our equity release comparison table to compare the key features available and read our reviews on leading providers.

Getting the best advice

Whether you prefer to speak to Age Partnership over the phone or face to face, the choice is yours. They will talk through your requirements, fully explain how plans work; help you consider whether it’s right for you or if other options are available such as downsizing and provide you with comparisons and a written illustration that you can talk through with your family.

The independent advice you get is free; you only pay of you decide to go ahead and your Age Partnership adviser is there to help and guide you every step of the way. These articles could help if you want to find out how much equity you can release or  how much equity release costs to arrange.

Ways to contact us

Call 08001337380
Call 0800 133 7656
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We know it's a big decision!

That's why we have teamed up with Age Partnership one of the UK's leading equity release specialists.

Find out how much cash you could release by trying the calculator.

Equity Release Calculator

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