Key equity release review

By Ashley Shepherd

Updated 9th January 2024 - I have reviewed Key Equity Release to help you understand more about the company and the services they offer. Here’s what I found:

• All advisers hold specialist qualifications
• Ability to repay the loan after 5 years
• Flexibility to make voluntary repayments

Once you have read the Key equity release review, you can compare equity release reviews from other providers and use the equity release calculator to see how much cash you could release from your home.

Try our equity release calculator

Who are Key Equity Release?

Key equity release specialise in offering lifetime mortgages to UK homeowners aged 55 or over. With a wide range of products to choose from, a Key equity release mortgage lets you access the money tied up in your home with no monthly repayments.

Instead, the loan plus interest is repaid once you have died or moved into long-term care.

Formally known as Key Retirement Solutions, Key Later Life Finance is part of the of the Key Group specialising in a range of later life products that include, mortgages, wills, lasting powers of attorney, estate planning and of course, equity release.

The Key Group

The Key Group are ‘later life experts’, providing retirement solutions to homeowners across the UK. Through their four brands, Key Partnerships, More2life, Air Group and Key, the group handle everything from advice and product development, through to lending and adviser support services.

Is Key later life finance a good equity release company?

Key is authorised by the Financial Conduct Authority and a member of the Equity Release Council – a sign of all good equity release companies. Leading independent review website Trustpilot also class Key equity release as excellent, with over 17,000 customer reviews giving them a trust rating of 4.8 out of 5.

Key equity release reviews

Key lifetime mortgages

Key later life finance has a range of lifetime mortgages that allow customers to access equity from their property value which include their:

Lifetime mortgage – for homeowners aged 55 and above with property worth at least £70,000.

Payment-term lifetime mortgage – for homeowners aged 55 – 62 when they apply with property worth at least £125,000. This plan includes mandatory repayments until you are 66.

Interest payment lifetime mortgage – for homeowners aged 55 and above with property worth at least £70,000. This plan includes repayments from £25.

What is the interest rate for Key equity release?

Keys lowest current interest rates is 5.84% with most customers achieving 6.50% or less, so please update the figures accordingly.

Key equity release calculator

The Key equity release calculator is free to use and lets you see how much money you could potentially release based on your age and property value.

For example, if you are a 65 year old with a property value of £250,000, the Key equity release calculator shows you could release up to £91,375.

Remember though, calculators just give you an indication of how much equity you could release. For a more accurate figure, speak to a specialist adviser or IFA.

Try our equity release calculator

Is Key equity release safe?

Key equity release is safe as its authorised and regulated by the Financial Conduct Authority. Customers are therefore protected by the FCA’s strict rules, standards and compensation scheme. Key is also a member of the Equity Release Council, so homeowners benefit from the additional safety of the no negative equity guarantee.

Key later life finance tv advert with Kevin Wheately

Key tv adverts can be seen regularly throughout the day, featuring the voice of acting favourite Kevin Wheately. The adverts explain the benefits of equity release and how these retirement experts can help people plan for later life.

Are you eligible for Key retirement equity release?

To be eligible for Key retirement equity release you, or the youngest homeowner should be at least 55 years of age with a minimum property value of £70,000.