Saga Equity Release Review (2025): Top Takeaways
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- Saga's equity release means cash in your pocket without monthly dues, though it might reduce your estate and benefits eligibility.
- Rates are within 5.97% to 6.28%*, and there are flexible options for cash withdrawals—just don't expect the maximum loan amount.
- They're open about costs—from valuation to solicitor and product fees—though it's important to note that these costs vary and can add up.
Previously known for its long-standing reputation in travel, Saga has been a trusted name in financial services since the 1980s, now offering equity release products through HUB Financial Solutions.1
With equity release becoming an increasingly popular choice for later-life financial freedom, Saga prides itself on delivering customer-centric solutions tailored to homeowners and focusing on the needs of retirees.
At SovereignBoss, we’ve dedicated time and resources to reviewing and breaking down the key details of Saga’s equity release products, so you can learn more about what's available, what makes Saga stand out, and how they could fit into your retirement plan.
Keep reading to explore our top takeaways...
In This Article, You Will Discover:
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 Saga. This article must not be interpreted as advice, nor is it a solicitation to conduct transactions in any financial product provided by Saga.
Who Is Saga, and What Equity Release Options Do They Offer?
Saga is a well-established UK brand known for catering to people aged 50 and over, offering various equity release services such as financial products like flexible lifetime mortgage options.
Let's take a closer look:
Saga's Evolution and Offerings
Originally founded as a travel company, Saga has grown over the past three decades:
- Diversified Services: In the 1980s, Saga expanded into motor insurance, introduced Saga Magazine, and ventured into financial services.
- Further Expansion: By the 1990s, Saga broadened its offerings to include medical aid, pet insurance, and even launched its own cruise ship operation.
- Product Development: Saga develops some products in-house and collaborates with partners to deliver uniquely competitive offerings.
Leading Provider for Over 50s
Today, Saga stands as a leading specialist provider in the UK, dedicated to offering tailored financial products and services designed specifically for the needs of the over 50s demographic.
Custom Equity Release Services
Saga's equity release services are developed in collaboration with HUB Financial Solutions Limited, ensuring customized solutions that meet the diverse needs of their customers.
Overview of Saga's Lifetime Mortgage Options
The Saga Lifetime Mortgage is an exclusive product created by HUB Financial Solutions, exclusively for Saga.
What does Saga offer?
Saga offers you an exclusive lifetime mortgage product called a Saga Lifetime Mortgage, which is available to clients who meet the qualification criteria.
You can select to borrow your equity in a lump sum or an initial lump sum, with the rest placed in a drawdown facility.
Additionally, you can select to pay back all or a portion of your monthly lifetime mortgage interest.
You can also opt for payment holidays of three consecutive months within a 12-month period.
One of Saga’s best features is the money-back guarantee, allowing you to pay back your equity release, penalty-free, within the first six months.3
Why Consider Saga for Your Equity Release or Lifetime Mortgage?
Consider Saga for their tailored equity release products, specifically designed for older homeowners, and their reputation for customer care.
Why Should You Consider Saga for Equity Release or Lifetime Mortgages?
You should consider Saga for equity release because it is an established firm that is a member of the Equity Release Council.
More reasons:
- Saga provides free advisory services, and you will never be obligated to select a product.
- If you decide that equity release is not for you or your circumstances have changed, you can pay back your loan within the first six months without facing early repayment fees or interest charges.
- Lastly, Saga offers an excellent free service where it's team will help you determine if equity release will impact your benefits.
What Are the Pros and Cons of Using Saga for Equity Release?
The advantages of using Saga include that it is a member of the Equity Release Council, while the disadvantages include that opting for a Saga lifetime mortgage will reduce the value of your inheritance.
More details:
Pros
The pros of Saga include that it is a member of the Equity Release Council and it offers free advice.
More information:
- Saga is a member of the Equity Release Council.
- It offers the option of a drawdown or lump sum.
- You have the option to pay back the loan, penalty-free, within the first six months.
- The service comes with free equity release advice.
Cons
The cons of Saga include that as with any equity release product, your inheritance will reduce in value.
Additional information:
- Opting for a Saga lifetime mortgage (like all equity release products), will reduce the value of your inheritance.
- The income you receive from equity release could impact your qualification for benefits.
- Allowing your interest to compound can vastly increase the total cost of your loan.
- Equity release may not be suitable for everyone, which is why your adviser will ask you to consider other options before proceeding.
How Competitive Are Saga's Equity Release Interest Rates and Fees in 2025?
In 2025, Saga's equity release interest rates and fees are competitive, reflecting their commitment to providing value to their target demographic.
How Competitive Are Saga's Equity Release Interest Rates in 2025?
In 2025, Saga's equity release interest rates remain highly competitive, designed to offer you both value and flexibility.
Compared to the market average, Saga strives to keep rates low to ensure your equity release plan is affordable over the long term.
This approach helps you maximise the amount you can release from your home while keeping the cost manageable.
What Are Saga's Equity Release Fees?
Saga does not charge any set-up and valuation fees however, if you require a specialist valuation4 report, that will be for your own account.
Are There Any Hidden Fees in Saga's Equity Release Plans?
Saga prides itself on transparency, ensuring that all fees associated with its equity release plans are clearly communicated from the outset.
While there are costs involved, such as valuation fees, advice fees, and potential early repayment charges, Saga ensures you are fully aware of these before proceeding.
They emphasize no hidden fees, giving you peace of mind that there won't be any surprises down the line.
Can You Estimate Your Equity Release with Saga’s Online Calculator?
Saga’s online calculator allows homeowners to estimate their potential equity release, offering a quick and personalised financial planning tool.
Does Saga Have an Equity Release or Lifetime Mortgages Calculator?
Yes, a Saga equity release calculator is available on it's website.
You can also use ours below for an approximation.
Can the Saga Equity Release Calculator Accurately Estimate Your Potential Loan Amount?
The Saga equity release calculator is a powerful tool designed to give you a clear estimate of how much equity you could potentially release from your property.
By inputting basic information about your age and property value, you can get an immediate estimate, helping you to make an informed decision about whether equity release is right for you.
Keep in mind, the final amount can vary based on a more detailed assessment of your circumstances.
What Feedback Do Customers Give About Saga Equity Release?
Customer feedback on Saga equity release often highlights their transparent processes, helpful customer service, and straightforward advice.
What Do Customer Reviews Say About Saga Equity Release?
The vast majority of Saga's online reviews are positive, and customers have been satisfied with its products and services, making it a well-respected company in the sector.
Take a look:
Saga has an online rating of 4.4 out of 5, with over 37,000 online reviews.
How Does Saga Handle Equity Release Customer Complaints?
If you are dissatisfied with Saga and wish to make a complaint, the best option is to go to it's website directly.
The company cares about it's clients and will direct you to the relevant department.
Alternatively, use a site like Trustpilot or Feefo to leave a review, and a representative will respond quickly.
Comparing Saga Equity Release Interest Rates and Schemes
The interest rates that Saga provide are deal-dependent and are awarded based on an individual deal's merit.
Interest rates currently range from 5.97% to 6.28%* AER.
You can see what the latest interest are here.
*While we regularly review our rates, these may have changed since our last update.
Have a look at all the equity release schemes available on the market.
How Do You Get in Touch With Saga for Equity Release Enquiries?
Contacting Saga for equity release enquiries can be done through their dedicated helpline, website contact form, or direct email service.
What Are Saga’s Financial Conduct Authority (FCA) Registration Details
Current Trading Names
- Saga Personal Finance
- Saga Trading
- Saga Share Direct
Previous Trading Names
- AA Financial Services
- Saga Financial Planning
- Saga Share Direct's Frequent Trader Service
Regulators
Financial Conduct Authority (FCA).5
Registration Numbers
- FCA Ref Number: 178922
- Company Reg Number: 03023493
FCA and Companies House Links
- FCA Link: FCA Link
- Companies House Link: Companies House Link
How Can You Contact Saga for Lifetime Mortgage Enquiries?
- +44 800 096 7120
- https://www.saga.co.uk/
- Enbrook Park, Sandgate, Folkestone, Kent CT20 3SE.
What Additional Information Should You Know About Saga Equity Release?
Additional information about Saga equity release includes their adherence to the Equity Release Council standards, offering safeguards like a no negative equity guarantee.
How Did We Review the Information on Saga and Equity Release?
We reviewed Saga 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.
We are an unaffiliated, third-party reviewer, and our article on Saga is therefore independent.
How Did We Review the Information on Saga and Equity Release?
We reviewed Saga 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.
We are an unaffiliated, third-party reviewer, and our article on Saga is therefore independent.
Frequently Asked Questions About Saga Equity Release
Does Saga Provide Equity Release Services?
Is Saga Accredited by the Equity Release Council?
Who Is the Ownership Behind Saga?
Are You Looking for a Job at Saga?
When Did Saga Begin Offering Equity Release and Other Financial Products?
Is Saga's Equity Release Scheme Safe and Reliable for Retirement Funding?
What Are the Customers' Experiences and Ratings in Saga Equity Release Reviews?
Are There Any Hidden Fees or Costs in Saga Equity Release?
How Does Saga Equity Release Compare to Other Similar Products?
What Are the Pros and Cons of the Saga Equity Release?
Conclusion: Deciding If Saga Equity Release Is Right for You in 2025
Saga is a worthwhile equity release provider to consider.
If you want to find out more about Saga’s equity release products, contact your financial advisor or Saga directly.
It is always recommended that you consult with a qualified financial adviser before you make any decisions.
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.