Best Equity Release Companies
(Rated from 181 customer reviews)

Best Equity Release Companies

The Best Companies Reviewed & Compared

I think you will agree with me when I say:

It’s challenging trying to find the companies that perfectly suit your needs!

Or is it?

Well, it turns out, that after years and thousand of hours researching; 50 lender, 300 customers and five professional consultations, we have defined opinions on what classifies a firm as perfect: favourable usury rates, A+ customer reviews, and wide-ranging deals.

Nationwide is the best overall provider; it has all the listed features, and it has a clean edge over its competition. James Woods, one of the loyal customers, took out a plan two years ago, and he accredits his financial capability and hassle-free retirement.

He loves the fact that it has an A+ rating and that it is a certified associate of the ERC, so he is safeguarded by the Council’s statement and principles. It is also one of the highest-rated lenders and presents affordable usury rate and pliable schemes. He has vowed to continue using their services and regrets anytime he wasted considering other providers.

So, if you want to register and get your lifetime mortgages or home reversion policy from a reliable and convenient source, one that delivers you reasonable fees and versatile terms, and one that has top-notch credentials and an excellent reputation, make sure get the best equity release quotes from these top ten providers.

How Much Can You Get? Use Our Free Equity Release Mortgage Calculator

Speak to a Professional » Get a FREE Equity Release Quotes Now

Top Equity Release Companies – Comparing Plan Providers

Are you property rich but cash flow tight? Well, if you are, you’ll appreciate how vital it is to have money in place and the freedom to fulfill your dreams and needs.

However, if you don’t have a solid strategy, maturing comfortably and actualising those dreams seems like a fantasy. That’s where this policy comes in handy.

An equity release plan enables homeowner whose over 55 to unlock the value in their estate by converting it into a one-off cash or regular income. This don’t require you to make any monthly payment and allow you to continue owning and residing in your home until you breathe your last breath, or move into permanent care. Only then is the lifetime mortgage plan customarily repaid from the sale of your house.

Given how long they run for, you need to make an informed decision on the organisation that will help you with the process. You have to ensure that they give you the finest one for your circumstances and you can only achieve that through a thorough comparison of the providers across the industry to find the most favourable rate.

The Finest Plan Providers in 2019

With more than fifteen companies and banks, coming to a final decision on the one that represents your needs best can be confusing; especially with each of them offering slightly different services and usury rates.

Some providers may impose a higher ceiling than the industry limit standard; others will have high interest rates and fees, while others can only allow you to unbind a fixed amount. So, when you put some of these issues into consideration, you can agree that it is vital to compare them to find the best one.

That said, here is a guide on the top providers. Hopefully, you will find one that will cater to your needs.

Top 10 Plan Providers

1. Age Partnerships

Age

Age Partnerships Equity Release was developed in 2004, and it arranges a tailored range of products. It has a 97% trust score in various independent review sites, and it has won several awards inclusive of ‘The Top Advisor, Customer Service Highly Commended Award’ in 2017.

The Financial Conduct Authority regulates its plans, and heeds to ERC’s statements and principles.

Options

It is an efficient brokering organisation that compares plans throughout the market as opposed to presenting you a single mortgage product, like most companies.

Due to its prominent position in the industry, it has a preferential rates agreement with leading providers; rates that may not be directly accessible to you or through IFA’s.

Thus, by using their services, it means that you’re eligible to:

  • Preferential low rates that can save you thousands of capital in terms of usury
  • Cash bonuses
  • Free estate valuations

Since they compare products across the market, their services contains:

  • LV
  • Legal &General
  • Hodge Lifetime
  • Aviva
  • Just Retirement
  • Pure Retirement
  • More 2 Life

Other Qualifications

  • Least : 55 yrs.
  • Ceiling: 95 yrs.
  • Interest Proposed: Preferential Low Rates
  • Survey Grade: A+

If you need more information, use our calculator and see how much you can get.

2. Nationwide’

It serves you a variety of products – ensuring you receive an excellent usury rate, incentives, and cash back options.

The Financial Conduct Authority regulates the Nationwide equity release, and ERC’s certified affiliates, which means they have voluntarily agreed to abide by the codes of their partnerships.

They bring a large range of pliable lifetime mortgages options that still pays out an initial one-off claim. However, it also provides you with the choice to have a cash reserve facility that provides you with easy access to your capital and does not affect your means-tested benefits.

It is a more cost-effective since you only get to get usury on the cash you withdraw and not the one in reserve.

The least initial debt with this is £10,000, with a minimum of £5,000 in the cash reserve.

It also brings more favourable usury payments liable on your health records and living conditions.

Other Qualifications Requirements

  • Least of Funds Proposed: £10,000
  • Ceiling of Funds Proposed: £460,000
  • Least : 55 yrs.
  • Ceiling: 85 yrs.
  • Interest Proposed: Relying on how risky the debt is, but for the early repayment, it is 6%
  • Survey Grade: A+
  • Attributes:
    • No Negative Equity’ Guarantee 
    • Inheritance Protection Guarantee
    • Voluntary Partial Repayments 

If you need more, use our calculator and see how much you can get.

3. Legal &General

Legal & General (L&G) Equity Release is one of the world’s largest providers and one of the UK’s leading pension fund asset managers.

As ERC’s a certified associate, it abides by their guidelines and codes. Their services is under the FCA’s regulation, and they have clinched several awards.

L & G Option

There are two varieties of the L&G Equity Release plans. They consists of:

  • Flexible Lifetime Mortgages
  • Premier Flexible Lifetime Mortgages

The Flexible proposal offers you a chance to borrow money as either a tax-free cash one-off pay or in smaller amounts.

The least you can borrow with this is £10,000, and the ceiling will be dependent on your oldage and value of your property. You can also opt to a least of £2,000 at any time with no fees. You will only be charged the usury rates on the withdrawal; not your original application.It gives the freedom to choose the inheritance protection at no extra costs.

With this, you can be sure that your family will have something left after you die.

The Premier Flexible, on the other hand, works similarly to the standard versatile debt, but it gives you a least of £250,000.

Legal &General also give other favourable plan, and you can access them on their website.

Other Qualifications Considerations

  • Least of Funding Proposed: Dependent on the scheme, but it ranges from £10,000 to £250,000
  • Ceiling of Funding Proposed: No specification
  • Least : 55 yrs
  • Ceiling : 75 yrs
  • Property Least Value: £100,000 and £150,000 for ex-council property
  • Interest Proposed: Determined by how precarious the debt is
  • Survey Grade: A+
  • Location: Scotland and England
  • Attributes:
    • Inheritance Protection Guarantee (at no extra costs)

 L & G also work with ‘The Retirement Lendings Advisers’ to aid in advising you on which best caters to your needs. They do not charge for this service, but they only give advice on L&G products and other schemes available with other companies.

If you need more on L&G, need to use our calculator and see how much you can get.

4. Aviva

Aviva equity release, one of the most established providers in the UK, have been proposing mortgage plans to over 150,000 customer since 2000.

They have over 30 million patrons worldwide, and it provides a large range of mortgage products.

The Financial Conduct Authority authorises it, and is ERC’s certified affiliate.

Aviva has also bagged several awards like the Top Provider in 2016.

Aviva Option

It serves two mortgage plans, and relies to its terms and conditions, both allow you to remain in your house until you (and your partner if you take a joint scheme) pass on or move into permanent care. They consist of:

  • Lifetime Lump Sum Max
  • Aviva Flexible

The Lifetime Lump Sum enables you to unbind a least pay of £15,000 or more with the option of borrowing a more substantial amount at a later date, determined by your oldness and property value.

The Aviva Flexible, on the other hand, give you either a one-off or drawdown (you can get more info on this by checking out the ‘Types of Equity Release Schemes’ guide). It also provide you a least initial trust of £10,000, with a least of £5,000 in the cash reserve for future use.

Aviva also provides you with favourable usury that are dependent on your health and living condition.

Other Qualifications

  • Amount of Funding Proposed: £15,000
  • Ceiling of Funding Proposed: No specification
  • Least: 55 yrs.
  • Ceiling: 80 yrs.
  • Property Least Value: £75,000 (and it should not be unoccupied for more than six months)
  • Property Condition: Freehold (Aviva can accept if 160 yrs. are remaining)
  • Interest Proposed: Relying on how precarious the trust is
  • Survey Grade: A+ BBB
  • Special Attributes:
    • Inheritance Protection Guarantee
    • Voluntary Partials Repayments

The Aviva Plans are constant but they also give you the solution of having ‘early repayment plan.’

If you need more details on Aviva, need to use our calculator and see how much you can get.

5. LV=

Liverpool Victoria (LV) Equity Release, known as LV=, is a leading financial company in the UK with over one million clients who have unlocked the value of their homes through these schemes. It is practically one of the few companies that provide the holiday home or second home mortgage program in the UK.

LV= has been in the market since 2002, and it is authorized by the FCA and a certified associate of the Council; so you can be reassured that it has a ‘no negative guarantee’, as well as complies with the rest of the Council’s guidelines and principles. 

The company has also acquired several awards with a the 5-star awards for Services for its Flexible Lifetime Mortgage.

LV= Option

LV equity release brings two great lifetime mortgage plans. They include the:

  • Lifetime Mortgage Lump Sum Plus
  • Flexible Lifetime Mortgage

The Lifetime Mortgage Lump Sum +, allows homeowners who are to expel cash that ranges from 25% of your estates value, and up to 55% for those between 90 to 95.

It also allows you to borrow a least payment of £10,000, meaning that the fees and usury to pay are lower in comparison to LV’s versatile policy. Any future borrowing can be available determined by your circumstances and the terms and conditions of the policy at the moment.

True to its name, the Flexible Lifetime Mortgage gives you more flexibility as to the Lump Sum Plus. You can decide to unbind the value of your home either through a one-off or a drawdown.

The amount of cash you take out with this ranges from 20% of the value of your house for 60 and above and at 50% for those between 90 and 95.  The least is about £10,000 and the ceiling can be three times your original lien or if lower, the highest amount will be against the value of your residence.

It has a depth withdrawal ceiling of £2,000, and you can have the ceiling lien available to you from a period of a decade and a half. However, you can only make one withdrawal per annual, and your provider will charge an usury that will be dependent on the rates at that moment and not as per the initial lien agreement.

Other Qualifications

  • Least Proposed: £10,000
  • Ceiling Proposed: No specification
  • Least: 60 yrs
  • Ceiling: 95 yrs
  • Property Least Value: £70,000
  • Property Condition: Freehold, bungalow, or flat. If it is of leasehold, it may be accepted. However, it should have between 70 to 90 yrs remaining leans on your charter.
  • Location: UK and Scotland including the Isle of Wight and Anglesey
  • Buildings Materials: In excellent condition, well maintained and designed of conventional bricks and mortar (other materials may be considered)
  • Interest Proposed: Determined by how insecure the loan is
  • Survey Grade: A+

You should also note that the LV usury is compounded annually and not monthly, like with other providers. It can make a massive difference over a decade.

If you need more on LV, need to use our calculator and see how much you can get.

6. Just

Just equity release, formerly referred to as Just Retirement Equity Release and established from a merger of Just Retirement and Partnerships Assurance, they offer three plans and provides their client with versatile terms that allow you to borrow more leans on your health and choices.

The FCA’s regulates it, and it is a certified associate of the Council.

It has also bagged several awards with a ‘5-star in the ‘Life and Pensions’ Category by the Financial Adviser Service Awards for the last twelve years, and the ‘5-star for the ‘Mortgages’ Category, nine years in a row. 

Just Options

It has three options, and they consist of:

The Just Drawdown is accessible to a client above 60, and it enables you to claim a least of £10,000 and a ceiling of £600,000 if you live in United Kingdom and £250,000 if you live in Wales and Scotland, subject to your oldness and asset value.

You can opt to claim the cash in one-off or smaller amounts. Therefore, you will only pay the usury of initial amount you unlocked, based on the rates at the time of every withdrawal.

The cash reserve accessible will be restricted to the lower amount of either three times the start-up loan or the ceiling amount you can borrow based on your oldness and the value of your residence.

The Lump Sum Lite is for those who are 60 and above and whose property is worth at least £70,000 and located in Scotland or UK. 

It also serves those that need to unlock a one time payment without having to pull out any additional sums in the future. The amount of money you unbind is bigger than that of the draw-down, but their usury are off-the-roof too. If you need to borrow more, you’ll have to wait till six months are over, but it all depends on your eligibility.

The amount you could get is dependent on your oldness and the value of the property with a least of £10,000 and a ceiling of £600,000 in UK and £250,000 in Scotland.

The Lump Sum Plus Lifetime is available to those who are 60 and above and with an asset value of at least £70,000 in UK, and Scotland.

It provides you with the choice to maximise the borrowing potential against your property. The standard loan to value is typically bigger than that of the Draw down, but it also comes with a higher usury. Moreover, the Just Underwriting team also considers your health and living condition, thus giving you of borrowing a more considerable amount.

Other Qualifications

  • Least of Funds Proposed: £10,000
  • Ceiling of Funds Proposed: £600,000 if you live in UK and £250,000 Wales, Scotland
  • Least: 60 yrs
  • Ceiling: 90 yrs
  • Property Least Value: £70,000
  • Location: UK and Scotland for all plans and Ireland for the Draw down mortgage scheme
  • Interest Proposed: Determined by how precarious the loan is
  • Survey Grade: A+

If you need more on Just, need to use our calculator and see how much you can get.

7. More 2 Life

More2life

More 2 Life Equity Release was established in 2008 and is known as the most prominent innovator in the lifetime mortgage market and among the largest in the UK.

The FCA’s authorises More 2 Life fully, and it only deals with fully qualified, independent advisers. As ERC’s board member, it adheres to the body’s standards and principles that ensure the fair treatment of customers.

More 2 Life Options

The More 2 Life Lump Sum +, enables homeowners who are 60 and above to borrow money that ranges from 20% to 50% of your house’s value. It also allows you to acquire a least payment of £10,000, and any future borrowing can be available depending on your circumstances and the terms and conditions of the scheme at the time.

Other Qualifications

  • Least of Fund Proposed: £10,000
  • Ceiling of Fund Proposed: No specification
  • Least: 60 yrs
  • Ceiling: 90 yrs
  • Property Least Value: £70,000
  • Location: UK and Scotland
  • Interest Proposed: Determined by how insecure the loan is
  • Survey Grade: A+

If you need more on More2Life, need to use our calculator and see how much you can receive.

8. Age-Concern

Formerly known as Age UK, Age Co is a retirement specialist, under HUB Financial Solutions’ and suggets a variety of products. Under the FCA’s regulation and ERC’s affliates. So, you can be sure that their products are reputable and that the Council’s standards and principles protect you.

Options

They do not provide you with specific as such; instead, they advertise the services of their endorsed partner.

As a significant contributor to the Just group, Hub works with various providers that consists of:

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

Therefore, when you register with one of its schemes, it refers you to Hub who will talk you through your requirement and compare the policies available with the above lenders.

However, while it is fantastic that they compare a range of companies, they do not compare the whole market.

Other Qualifications Specifications

  • Least Proposed: £10,000
  • Ceiling Proposed: No specification
  • Least : 55 yrs
  • Ceiling : 90 yrs
  • Property Least Value: £70,000
  • Interest Proposed: Relies on how insecure the loan is
  • Survey Grade: A+ 

Even though the amount you can receive relies on what you choose a scheme with Aviva, Bridgewater, Just, Legal &General or One Family, AgeCo do offer you a calculator on their website that provides you with an indication of how much this could be.

If you need more use our calculator and see how much you can get.

9. Hodge Lifetime

Hodge Lifetime

Incorporated in 1965 and an exclusively owned subsidiary of Julian Hodge Bank Limited, Hodge Lifetime Equity Release gives you several plans.

It is a founder member of the trade body and is one of the most established lenders, whose primary focus is committed to the retirement.

The FCA regulates the company’s services, and it is an associate of the Council.

It has also clinched several awards inclusive of the ‘Best Lender for Older Borrowers.’

Hodge Lifetime Options

Hodge provides four types of lifetime mortgage plans:

  • Flexible Lifetime Mortgage
  • Lump Sum Lifetime Mortgage
  • Lifetime Mortgage
  • Indexed Lifetime Mortgage 

The Flexible program gives you the option of taking out an initial one off but then cash out further in the future.

The least cash you can claim is £1,000 per transaction, and the maximum loan available is £500,000, but it is dependent on your oldage and property value. You can also repay up to 10% of the initial plus 10% of any further withdrawals on an annual basis without being charged. You also have the choice to pay back the loan as a result of selling your property after five annuals.

The Lump Sum allows you to claim a one time payment and comes with an option to pay back 10% of the value of the original loan each annual and a shot to repay after five years due to selling or relocating to another place, without incurring repayment charges.

The Lifetime Mortgage is accessible to those who are 55 instead of 60 and gives you a bigger loan value, of up to £1,000,000. You can opt to take it in a one-off, and you can still choose to repay up to 10% of the first loan annually. You can repay the full credit on a reimbursement charge, at a fixed scale and it is payable for up to ten years.

The Indexed Program is also accessible to 55 up to 85-year-olds with a maximum loan ceiling of £1,000,000.

The only distinction with this is that its usury is variable and you can only apply for it once a years to reflect annual movement in the All Items Consumer Prices Index yearly rate. The scheme comes with an ‘Interest Rates Guarantee’ that consists of a ceiling and floor rate, meaning you will never pay more or less usury than the two thresholds that will be set out in the original mortgage contract.

Other Feature and Qualifications

  • Least Proposed: £20,000 or £15,000
  • Ceiling Proposed: No specification
  • Least : 55 or 60 years
  • Ceiling: 85 years
  • Property Least Value: £100,000
  • Property Condition:  Freehold, bungalow, apartment, or maisonette. If you have a lease, it should be of a minimum of between 90 to 99 years left on the contract
  • Location: Scotland and England
  • Interest Proposed: Dependent on how risky the loan is
  • Survey Grade: A+BBB
  • Features:
    • Interest Rates Guarantee

If you need learn more on Hodge Lifetime, need to use our calculator and see how much you can get.

10. Stone Haven

Stonehaven

Stone Haven Equity Release Provider has been in the frontline, since 2006, when it comes to innovative schemes. It provides its customer with programs they can trust and depend on to make their retirement comfortable and offer several lifetime mortgage plans.

The FCA also regulates the company’s services, and it’s a certified affiliate of the ERC.

Stone Haven Options

Stone Haven presents three types of lifetime mortgage plans:

  • Lump-Sum Lite Lifetime Mortgage
  • Voluntary Select Lite Plan
  • Interest Lite Plan

The Lump Sum Lite Lifetime Mortgageis one of the best schemes of Stone Haven.

It typically does as it says on the tin; it provides you with the lowest usury at 6.13%. You do not have to pay any month to month in the duration of the proram. It’s especially perfect for those looking to leave some inheritance to their children, or if you cannot afford to contribute towards the usury charged by Stone Haven. For homeowner who is 55 and above, and it allows you to unbind a least of 11% of your house value.

The Voluntary Lite Plan enables you to make 10% payments each year with no penalty. You can start making payments anytime from inception, and you can also choose whether to make ad-hoc payments– it could be to cover the usury partly or to pay off all the interest-only. The least you can cash out with this is £20,000, and there is no ceiling currently.

The Interest Lite Plan is Stone Haven’s lifetime mortgage jewel and most known option.

It provides you with the flexibility you need and financial control. There are no income checks, and it’s often seen as a self-certification mortgage, perfect for those who may have had an adverse credit in the past. The amount you can get is dependent of youngest applicant and your estate value. It also has the lowest usury rates of 5.94%, and it allows you to maintain a level mortgage balance throughout and therefore, secure the final inheritance when the providers eventually sell your property. 

Other Qualifications

  • Least Proposed: £10,000
  • Ceiling Proposed: No specification
  • Least: 55 years
  • Maximum : 85 years
  • Property Least Value: £70,000
  • Interest Rates Offered: Monthly and dependent on how insecure the loan is
  • Survey Grade: A+ 

 If you need to know more on Stonehaven, need to use our calculator and see how much you can receive.

In Summary

Equity release is one of the most important financial decisions you will ever make. So, it would be best if you took your time when choosing a provider that will cater to all your needs. You should do your due diligence and consult several providers before making an informed decision that will make your retirement the best times of your existence.

Therefore, if you need to know more about this, check out the one that best matches your situation or check out several assessments on schemes, be sure to click here and see how much you can get and chat with us for free.

How much money could you release?

An equity release allows you to access the value of your home, tax-free without having to sell up, so that you can have money to spend on whatever you want or need.

Use The FREE Calculator Below

Calculator

Value Of Your Home?


(Drag the Slider)

225000
0/5 (0 Reviews)
×
Proof
It's Popular Here

Let's Chat

Callback Details
Please check your details are 100% correct
[formidable key=lead-optin]
Please select a valid form
[formidable key=lead-optin]
Please select a valid form
[formidable key=lead-optin]
Please select a valid form