Saga Equity Release Review

Is Saga Equity Release Right for Your Retirement?
Contributors: Nicola Date, Katherine Read. Edited by Rachel Wait & Reviewed by Francis Hui
Are You Looking To Unlock Capital With Saga Equity Release? Discover the Pros, Cons & Other Saga Services. Decide Here if This Is the Best Option for You.

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Originally focusing on travel, Saga has been offering financial services since the 80s and their equity release products are provided through HUB Financial Solutions1.

Saga is proud to offer flexible and customer-focused services, focusing on the needs of over 50s.

We’ve got the latest information on Saga equity release and if it’s a good option for you.

Check this out!


What’s Equity Release?

Equity release is a financial product designed for over 55s who want to access their property value while still staying there.

The type of equity release products offered by Saga is lifetime mortgages. 

Who’re Saga?

Saga was initially a travel company but expanded after 30 years. 

In the 1980s, Saga started offering motor insurance services, launched Saga Magazine, and founded its financial services operations. 

A further expansion occurred in the 1990s, as customers could now take out medical aid and pet insurance services through Saga.

In the same year, Saga launched a cruise ship operation. 

The Group develops some products in-house, while others are supplied by partners, with the goal to offer highly differentiated products that are competitively priced.

Saga has become a leading UK specialist provider of financial goods and services for over 50s in the UK.

HUB Financial Solutions Limited has helped to develop custom Saga Equity Release services. 

Both Saga Equity Release and HUB Financial Solutions Limited are members of the Equity Release Council2.

What About the Saga Equity Release Calculator?

Do you wonder how much money you could probably unlock with Saga equity release? Try our free equity release calculator now!

How Much Can You Release?

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Why Consider Saga?

You should consider Saga for equity release because it’s an established firm that’s a member of the Equity Release Council.

Here’s more reasons:

  • Saga provides free advisory services and you’ll never be obligated to unlock a product.
  • If you decide that equity release wasn’t for you or your circumstances change, you can pay back your loan within the first 6 months without facing early repayment fees or interest charges. 
  • Lastly, Saga offers a brilliant free service where its team will help you determine if equity release will impact your benefits. 

Saga’s Online Reviews

The vast majority of Saga online reviews are positive, and customers have been satisfied with their products and services, making them a well-respected company in the sector.

Saga’s Online Ratings

Saga has an online rating of 4.7 out of 5, with over 11,000 online reviews.

How Did We Review Saga?

We reviewed Saga by gathering all the latest information available about it.

This information was then thoroughly researched, vetted and then added to this review for your ease of reference.

Our review of Saga is independent, and we are not affiliated with it.

Saga Equity Release Complaints

If you’re dissatisfied with Saga and wish to make a complaint, the best option is to go on their website directly.

They care about their clients and will direct you to the appropriate department if possible.

Alternatively, use a review site like Trustpilot or Feefo to leave a review and they’ll respond quickly.

Saga’s Equity Release Interest Rates & Schemes Compared

Are you looking for a specific equity release scheme?

These are some of the schemes offered or covered by Saga.

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!

Pros & Cons

The pros of equity release with Saga are great, and the cons are no different to those of all equity release products.

Here’s more details.


  • 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 its first 6 months.
  • The service comes with free equity release advice. 


  • 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.

Saga’s Qualification Criteria

Saga’s qualification criteria for equity release include that you must be 55 or older, want to unlock £10,000 or more, and your home must be valued at £70,000 or more. 

Saga Lifetime Mortgage

The Saga Lifetime Mortgage is an exclusive product created by HUB Financial Solutions, exclusively for Saga. 

What Do Saga Offer?

Saga offers you an exclusive lifetime mortgage product called Saga Lifetime Mortgage and it’s 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. 

Furthermore, you can opt for payments holidays of 3 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 6 months.

What Are Saga’s Fees?

Saga fees may include an application fee.

It may also offer you a free valuation; however, sometimes providers charge for this depending on your plan.

Saga’s Other Services

Saga’s other services include:

  • Insurance products
  • Holiday opportunities
  • Care funding
  • Savings
  • Saga Magazine

Saga’s FCA Details

Trading Names

Saga Personal Finance is a registered trading name of Saga Personal Finance Limited. The company is registered in England and Wales (3023493)


Saga’s equity release products are regulated by the Equity Release Council and also overseen by the Financial Conduct Authority (FCA)3

Registration Number

Saga Personal Finance Limited Registration Number: 3023493

FCA & Company House Links

Review FCA information for Saga here and visit their page here.


Enbrook Park




United Kingdom

Saga Lifetime Mortgage Contact Number

Got Questions

Does Right Do Equity Release?

Is Saga a Member of the Equity Release Council?

Who Owns Saga?

Saga Jobs?

When Did Saga Start Offering Financial Products?

Is Right Equity Release Safe?


Saga is a fantastic equity release option that’s worth considering.

If you want to find out more about Saga’s equity release products, contact your financial advisor or Saga directly.

Before You Go…

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Editorial Note: This content has been independently collected by the SovereignBoss 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.