Equity release companies reviewed
Equity release lets over 55 year olds access the money tied up in their home, helping improve their finances in later life. It’s a highly regulated financial product and not right for everyone, but chosen wisely, equity release can relieve the pressure of money worries in later life.
On this page, I've compiled information on some of the leading equity release companies and you can read our reviews to find out more about each provider and the services they offer.
Which are the best equity release companies?
The best equity release companies will offer you a personalised solution based on your requirements and situation. They should provide professional advice with complete transparency, ensure financial security and peace of mind and have reviews demonstrating exceptional service and customer satisfaction.
For your protection, they will be regulated and authorised by the Financial Conduct Authority (FCA) and are members of the Equity Release Council (ERC). This is why we only include FCA and ERC authorised companies in our reviews.
Equity release reviews - the things you need to know
Our equity release reviews have been created to help you understand more about the providers and brokers who offer lifetime mortgages, the most popular type of equity release.
Each review includes information on the company’s background, awards they may have won, eligibility and the range of products they offer. They also include additional information we think may be of importance, such as how interest is calculated.
Some companies will offer their own products or will have partnered with a leading lender or broker to provide their equity release service. Other companies, usually referred to as brokers, will offer products from the whole market or a select number of lenders, where they may have negotiated special deals.
Top equity release companies
Age Partnership
Age Partnership are national equity release brokers that work with a number of leading equity release providers. They offer their services direct to the consumer and through their associations with companies like Over50choices.
Read our Age Partnership review
Aviva
Aviva's lifetime mortgages give you the option to either release a one-off cash sum from £15,000, or release an initial lump sum from £10,000 with a cash reserve of at least £5,000.
Read our Aviva review
Canada Life
Canada Life has a range of lifetime mortgages that allow you to repay some of the loan each year, add a cash reserve, choose downsizing protection or guarantee an inheritance for family.
Read our Canada Life review
Just
The ‘Just for you lifetime mortgage’ gives you the opportunity to release a cash lump sum with a cash reserve facility for you to use as and when you need it. The minimum amount you can borrow is £10,000 or £2,000 if you prefer to make monthly repayments.
Read our Just review
Key
Key offer a range of branded lifetime mortgages in addition to advice on later life and estate planning products.
Read our Key review
Legal & General
Legal & General offer two types of lifetime mortgage. The first lets you repay the loan once you have died or moved into long term care. The second gives you the option to repay some or all of the interest.
Read our L&G review
LV
Equity release services are provided by Simply Lifetime Mortgages who are appointed representatives of Age Partnership. Their mortgages allow you to either release a cash lump sum, or release equity as and when you need it.
Read our LV review
More2Life
More2Life have a number of lifetime mortgage options that offer cash facilities, inheritance and downsizing protection and fixed early repayment charges.
Nationwide
They no longer offer equity release products but they still service existing customer’s plans.
Read our Nationwide review
OneFamily
OneFamily offer a range of lifetime mortgages. They also have a team of equity release advisers located throughout the country who compare and provide advice on products available throughout the whole of the market.
Read our OneFamily review
Pure Retirement
Pure Retirement offer a wide choice of equity release products and flexibility through their Sovereign, Heritage, Heritage Freedom, Classic and Emerald ranges.
Responsible Lending
They offer four types of equity release that give you the option to take a lump sum payment or drawdown money as you need it. They also offer premier plans for higher property values and fee paid plans that help you secure a lower interest rate.
Saga
Saga equity release services are provided by Hub Financial Solutions, which is part of the Just Group PLC.
Read our Saga review
Scottish Widows
They are the second of two banks to offer equity release. In addition to offering their services through Scottish widows, they also provide equity release services for Lloyds Bank and the Halifax.
Standard Life
Standard Life is a trading name of Key Retirement Solutions who have their own range of Key branded lifetime mortgages. The advice you receive from Standard Life is from ‘Modern Lending Advisors Limited’, an appointed representative of Key Retirement Solutions.
Sunlife
The Sunlife Sunrise lifetime mortgage service is provided by Key Retirement Solutions Ltd.
Read our Sunlife review
The Equity Release Council's 'Find an equity release adviser' service provides a full list of advisers, solicitors, providers, associates and affiliates.
Next steps
We work in association with leading equity release specialist broker Age Partnership. They can compare equity release on your behalf and could potentially save you hundreds or thousands of pounds in interest over the course of the plan by securing a lower rate that you may not have found elsewhere.
As you will see from our Age Partnership equity release review, they provide free, no obligation advice; you only pay if you decide to go ahead. They can guide you through your options, compare plans and advise you on the best course of action.