Legal & General Equity Release (Dec 2021)
Legal & General Lifetime Mortgage Review
Contributors: Nicola Date, Katherine Read. Edited by Rachel Wait & Reviewed by Francis Hui
Are You Considering Legal & General Equity Release? What are the Pros, Cons & Costs? Discover If Legal & General Lifetime Mortgage Schemes are for You.
Before You Start Reading...
Let's See How Much You Can Release 👇
I think you’ll agree with me when I say:
It’s REALLY hard to choose the best equity release providers with all the choices available.
Or is it?
Is Legal & General equity release the best?
Have you used our free equity release calculator yet?
The companies we profile, are the best in the business to help you unlock the cash tied into your home.
- Understand the services that Legal & General offers.
- Determine if they might be able to assist you and your family on your equity release journey.
As experts in the equity release field (we’ve reviewed more than 250 schemes!), we’ve combed the market, researched all equity release service providers and narrowed it down to who’s on top.
What’s Equity Release?
An equity release mortgage is, in a nutshell, a loan plus interest that is paid back to the lender when the homeowner passes away or goes into permanent care. The homeowner’s family usually pays back the cash released, and the interest incurred, from the sale of the home in question.
Learn More: What’s Equity Release?
How Does Equity Release Work?
Equity release is available for individuals or couples over the age of 55, with the youngest homeowner’s age determining the amount of equity that can be released. It is important to note that some equity release schemes may require the homeowner to be 60 or older.
Learn More: How Does Equity Release Work?
We’ve summed up the most important information about the topic in this quick video.
What About the Legal & General Equity Release Calculator?
Before you consider using the Legal & General calculator, please take note.
Our providers can almost always match & BEAT any existing equity release quote that you find through Legal & General. So first use this calculator below & see how much you can release.
How Much Can You Release?
Use the FREE Calculator 👇
It's VERY FAST and, takes just 8 seconds
Legal & General Reviews & Ratings
- Uk.TrustPilot.com – Legal & General Reviews
- Reviews.io – Legal & General Reviews
- SmartMoneyPeople.com – Legal & General Reviews
Legal & General Complaints
If you’re unhappy with Legal & General and would like to make a complaint then the best way to do this is reach out directly on their website. They care about their customers and will forward you to the relevant department. The alternative is to use a review site such as Trustpilot or Feefo and leave a review and they’ll quickly reach out to you to assist.
Are Legal & General Equity Release Any Good?
PROS
- Experienced reputable lender which has lent to over 89,000 customers at a rate of over 400 per week.
- A financial advisor is appointed for you, with no fee
- Lots of flexibility for how you’d like to receive your money
- You can choose to make early repayments
- You can protect some equity to ensure your heirs are passed on a specific amount at no extra cost
- No negative equity guarantee
- Members of the Equity Release Council requiring a high standard of customer care, outstanding value, and total transparency
They are also authorised by the Financial Conduct Authority and have won the following awards:
- The Mortgage Awards 2020 – later lifetime lender of the year
- Mortgage Strategy Awards 2020 – Best equity release provider / lifetime lender
CONS
- The interest owed compounds quickly, meaning your estate can quickly diminish, as you’re not making any repayments on the loan, so you can lose a lot of money out of your estate. However, you’ll never owe more than the value of your home.
Learn More: Is Equity Release a Con?
Legal & General's Equity Release Plans & Lifetime Mortgage Schemes
Not what you're looking for?
Have a look at all the equity release schemes available on the market, with our easy-to-use table or compare the equity release rates!
Who Are Legal & General?
Legal & General is the UK’s largest supplier of individual life assurance products and a top 20 worldwide asset manager. With over £1 trillion in assets, the equity release business was started in 1836 and has since developed into one of Europe’s leading insurance and asset management firms.
By delivering stable pension incomes, L&G works with corporations, pension fund trustees, and advisers to safeguard the corporate pensions of workers who are in or are nearing retirement. They also provide annuities and lifetime mortgages to individual consumers who are searching for financial stability in their later years.
L&G specialises in a variety of items, including:
- Investments
- Retirement solutions
- Life cover
- Insurance
- Mortgages
- Equity Release
FCA Address
One Coleman Street
London
EC2R 5AAE C 2 R 5 A A
UNITED KINGDOM
Trading Names
- Legal and General Assurance Society Limited
FCA Permitted Services
- Banking
- Insurance
- Consumer Credit
- Pensions
- Investments
Regulators
- Financial Conduct Authority
- Financial Services Authority
Registration Numbers
- FCA Ref Number: 117659
- FCA Reg Number: 166055
Legal & General Info
- Address: One Coleman Street, London EC2R 5AA
- Phone: 01737 370 370
- Email: paymentservices@landg.com
Got Questions About Legal & General& Lifetime Mortgages? Check These First
Is Legal & General A Member of the Equity Release Council?
What Are Legal & General's Interest Rates?
Who Owns Legal & General Equity?
Where is Legal & General Located?
Before You Go...
Let's See How Much You Can Release 👇
Conclusion
If you’re anything like us, you skipped to the end anyway.
So here’s the scoop – our intention is to help you by finding the best lifetime mortgage so that you can spend the money on something that you really want, rather than on a high tax bill.
Editorial Note: This content has been independently collected by the SovereignBoss advisor team and is offered on a non-advised basis. Sovereignboss may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Learn more about our editorial guidelines.
