Papilio Equity Release Review (2025): Comprehensive Insights
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- Papilio UK acquired a portfolio of Northern Rock's equity release mortgages.
- They specialize in managing existing agreements rather than offering new equity release products.
- Consider Papilio UK if you have an existing equity release mortgage from Northern Rock.
- Papilio UK focuses on providing customer service and support to those with Northern Rock equity release agreements.
- Explore alternative equity release providers for new products and advice.
Who is Papilio and can it help with equity release?
If you are considering equity release to ease the financial strain in retirement, it is vital to find the best plan and the best provider for you.
With so many options on the market that can seem like a daunting task.
We are here to try and make it easier for you.
In This Article, You Will Discover:
At SovereignBoss, our research team has spent countless hours reviewing equity release information and putting it together in an easy-to-use format.
Can Papilio help with your equity release dreams?
NOTE: SovereignBoss is an impartial and unconnected third-party information provider via this website, and the details replicated in this commentary represent the opinions of SovereignBoss only and may not reflect the views or opinions of Papilio. This article must not be interpreted as advice, nor is it a solicitation to conduct transactions in any financial product provided by Papilio.
What Is Equity Release and Lifetime Mortgage?
Equity release allows older homeowners to convert part of their home's value into cash while still living in it.
The money can be taken as a lump sum or in installments, and repayment is usually deferred until the homeowner passes away or moves into permanent care.
Who Is Papilio?
Papilio UK Equity Release Mortgages Ltd is a lifetime mortgage1 servicing firm and specialised purpose entity.
Following the financial crash in 2008, Northern Rock Bank sold its lifetime mortgage loan book to JP Morgan2, who appointed Papilio UK, a subsidiary of Intertrust Management Limited, to administrate these loans.
Whilst it maintains the day-to-day administration of all the old Northern Rock lifetime mortgages, Papilio is not able to issue any new equity release plans or authorise any additional borrowing or further advances on existing plans.
Why Consider Papilio?
You cannot consider Papilio UK for any new equity release plans as it is merely an administrator of the old Northern Rock equity release plans.
In 2008, Northern Rock left the equity release business and sold it's plans to JP Morgan.3
These plans are administrated by Papilio UK Equity Release Mortgages Ltd, a subsidiary of Intertrust Management Ltd.
Does Papilio UK Have an Equity Release Calculator?
No, Papilio UK does not have an equity release calculator.
If you are curious to see approximately how much you could release from your home with equity release, why not try the calculator below?
What Are The Advantages and Disadvantages of Using Papilio Equity Release?
The advantage of Papilio equity release is that it manages existing Northern Rock plans.
The disadvantage of Papilio equity release is that it cannot authorise additional lending on your existing plans.
Papilio Equity Release Pros
The pros of Papilio equity release are:
- JP Morgan has appointed it to manage the Northern Rock plans.
- It's parent company, Intertrust Management Limited, is authorised and regulated in the UK by the Financial Conduct Authority.
- It has been looking after the Northern Rock portfolio for over ten years.
Papilio Equity Release Cons
The cons of Papilio equity release are:
- You are not able to take out further loans from the equity in your home.
- Other products on the market could offer better rates and more flexibility.
- Any form of equity release will negatively impact the inheritance you leave behind for your heirs.
How Did We Review the Information On Papilio?
We reviewed Papilio based on the following:
- Reputation and History – How many years they have been in business, customer reviews, and industry rewards received.
- Financial Strength – Ensuring it is going strong and has adequate funds to meet long-term commitments.
- Product Range – We favour companies offering a variety of equity release schemes with greater product flexibility.
- Interest Rates and Fees – We review competitive rates compared to industry averages and they must be fully transparent about rates and fees without hidden costs.
- Customer Service and Support – When and how it is available, response times, and available online educational resources. As well as online tools, like a calculator.
- Code of Conduct and Compliance – We only consider companies that adhere to recognised industry standards and codes.
- Industry Insights and Peer Reviews – We care about a company’s industry-wide reputation.
- Innovation and Technology – Is there a streamlined, digital application process?
- Client Testimonials – Success stories and the complaints resolution process.
This is an unaffiliated, independent review of Papilio.
Papilio Complaints
Complaints against Papilio can be made on popular review sites such as Trustpilot5 or Feefo.6
What Are The Current Equity Release Interest Rates?
Current annual interest can be available from as low as 5.97% to 6.28%*.
Read about the latest equity release rates here.
*While we regularly review our rates, these may have changed since our last update.
What Are Papilio's Fees?
Papilio's fees may include an annual management fee for the administration of an existing Northern Rock equity release plan.
If you are considering moving your plan to a new provider, you may be concerned about the possible early repayment charges.
Good news!
Following the move of Northern Rock plans to JP Morgan, all early repayment charges fell away.
This means that you will not be liable for any charges should you decide to remortgage to a new equity release lender.
Learn More About Papilio
Papilio UK Equity Release Mortgages Ltd is a lifetime mortgage servicing firm and specialised purpose entity.
It looks after equity release customers on behalf of JP Morgan, ensuring that statements are received on time and that lifetime mortgages are finalised efficiently.
The official name of the firm is Papilio UK Equity Release Mortgages Limited, and it is based in Ipswich.
FCA and Companies House Links
- FCA Ref Number: 910094
- Companies House Number: 07687338
FCA and Companies House Links
- FCA Link: FCA Link
- Companies House Link: Companies House Link
Papilio Address
- Intertrust Management Limited, 1, Bartholomew Lane, London EC2N 2AX
Common Questions
What Are the Key Features of Papilio Equity Release?
How Does Papilio Equity Release Work?
What Are the Pros and Cons of Papilio Equity Release?
How Can I Apply for Papilio Equity Release?
Is Papilio Equity Release a Trustworthy Option?
Conclusion
If you have an existing Northern Rock equity release plan, you can rest assured that it is being managed by Papilio UK.
Although on the one hand, this is good news, on the other hand, it could mean that your equity release plan is outdated and costing you more than it should.
It would certainly be a wise idea to contact an equity release adviser to see if you can move your plan to a more modern provider with better rates and features.
So, if you have an existing Northern Rock equity release plan, it may be time to contact Papilio equity release and find out about moving across to a fresh new provider.
The features mentioned and the amounts raised, are subject to the lender’s criteria, terms and conditions. These may take into account the age, health and lifestyle factors in order to provide an enhanced amount. To understand the features and risks, ask for a personalised illustration.