Legal & General Equity Release Review

  • Moneyfacts 5 star rated equity release schemes
  • Inheritance Protection at no extra cost
  • No negative equity guarantee 

Try the Equity Release Calculator

Once you have read the L&G Review, you could compare equity release reviews from other providers and as a starting point use the equity release calculator to see how much cash you could release from your home.

About Legal & General

This Equity Release review focuses on L&G or Legal & General to give them their full name.  

Legal & General are one of the world’s largest insurance and investment management companies and the UK’s leading pension fund asset manager. The Legal & General Group is comprised of 6 businesses:

  • Legal & General Retirement
  • Legal & General Investment Management
  • Legal & General Insurance
  • Savings
  • General Insurance
  • Legal & General Capital

As members of the Equity Release Council, Legal & General abide by their rules and principles for equity release schemes and promote their ‘no negative equity guarantee’.

They are also authorised by the Financial Conduct Authority and have won the following awards:

  • Mortgage Strategy Awards 2017 – Best equity release / lifetime lender
  • Moneyfacts 2017 – 5 star rating for equity release

L&G Equity Release options

Legal & General offer two ranges of Lifetime Mortgage plans that we will focus on in this Equity Release review – their Flexible Lifetime Mortgages and their Premier Flexible Lifetime Mortgage.

As always you will need to speak to an equity release qualified financial adviser in order to establish whether a Legal & General equity release scheme is suitable for you. You can therefore either seek the advice of your own advisor or Legal & General can put you in touch with ‘The Retirement Lending Advisers’.

The Retirement Lending Advisers are an independent company who will not charge you for any advice they give however they are only able to advise you on the Legal and General equity release schemes and not the whole of the market.

The flexible lifetime mortgage gives customers the opportunity to borrow a tax-free cash sum in one go or in smaller amounts as needed.

The minimum you can borrow with these lifetime mortgages is £10,000 and the maximum will be based on your age and value of your property.

You are able to draw down a minimum of £2,000 at any time with no fees and will be charged the interest rate at the time of the drawdown; not your initial application.

The features of this flexible lifetime mortgage plan are that it comes with a no negative equity guarantee, so you will never owe more than the value of your home; you can select the inheritance protection option at no extra cost to leave a percentage of the property to family; in any 12 month period you can repay up to 10% of the amount of money you have drawn without incurring penalty fees

This Legal & General equity release scheme works in a similar way to the usual flexible lifetime mortgages however the minimum you can borrow is £250,000. 

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Are you eligible for Legal & General Equity Release?

Review of additional information on the Legal & General Equity Release Schemes

Legal & General Equity Release Calculator

Compare Equity Release Schemes

Now you have read our Legal & General Equity Release Review it is worthwhile knowing how their lifetime mortgage compares to other equity release schemes.

It is worth keeping in mind that not all advisers compare the whole of the equity release market; some focus on particular companies which may not offer you the most appropriate equity release scheme.  

This is why we have teamed up with Age Partnership, a leading independent specialist that reviews and compares equity release schemes with the whole of the market, including companies like Aviva, Legal & General, LV, Pure, One Family, Retirement Advantage, Hodge Lifetime, Just Retirement and Bridgewater Equity Release.

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