Compare UK Equity Release Providers

You must be 55+ to qualify for Equity Release.
  • Independent UK Equity Release comparison service
  • Release up to £500,000 TAX FREE - Equity release is, in a nutshell, a way to unlock the value of your property and turn it into cash which lets you access – or 'release' – the equity (cash) tied up in your home, if you're 55+.
  • Get your free quotes and compare options from leading Equity Release companies.

L&G Equity Release Review

Equity release gives eligible homeowners the option of receiving a tax-free cash sum loan tied to the value of their property. The main feature of equity releases is that you still get to live in your house even after cashing in on the value tied to it. The amount you owe is usually recovered after your death or if you or your partner – for a joint mortgage – move into long-term care.

Equity release can be a handy option when looking for financial freedom, especially after retirement. Some of the common uses of these funds include home renovations, helping children with their education or other expenses, or topping up on the retirement funds. Whichever the case, be sure to consult with an advisor to see if this is the best alternative for you since it is a long-term contract.

If you are above 55 years and would like to release the value tied to your home, you can fill in the quotation form above, and you will have your situation assessed for free and a quote comparing the various providers of equity release in the United Kingdom.

To compare Equity Release providers click here and complete the short form.

Legal & General Equity Release

L&G offered equity release as Lifetime mortgages. This is where your property’s equity in form of cash, but are still able to retain its ownership until you pass away or move into long-term care. No payment will be expected of you in your lifetime – unless you decide to pay – and the full loan amount plus interest rolled over each month will be recovered at the end of the contract.

Eligibility for the Lifetime Mortgage

To qualify for Legal & General equity release, the youngest member should be over 55 years and not older than 88 years.

You should also be a homeowner in the United Kingdom, with property worth over £100,000. The home should either have a small or no mortgage tied to it.

L&G Equity Release offers Lifetime Mortgages in three forms:

  • Flexible Lifetime Mortgage
  • Optional Payment Lifetime Mortgage
  • Income Lifetime Mortgage

Flexible Lifetime Mortgage

With a flexible lifetime mortgage, you can choose to either receive the loan as a lump sum or as a lump sum with a cash reserve to make periodic withdrawals. If you do not take the full amount available, you will have the option of requesting another loan, to be charged the interest rates applicable at the time.

Optional Payment Lifetime Mortgage

The optional payment lifetime mortgage is life the flexible mortgage, with the added option of making optional monthly interest payments. This is a good option if you are looking to reduce the total loan amount by preventing the interest from rolling over. You have the option of stopping these payments, in which case you will not be able to resume them.

This alternative can be handy if you are nearing the end of an interest-only mortgage and need to repay it. In such a case, you may have to pay early repayment charges to your lender.

Income Lifetime Mortgage

An income lifetime mortgage allows you to get a loan on the value of your property and continue to live in it, with the loan amount received in the form of a fixed monthly income for an agreed period. After an initial minimum cash sum, you will have the option of receiving the remaining income over 10, 15, 20, or even 25 years.

All the above L&G Equity Release products come with a no-negative guarantee, meaning that you will, at no point, owe more than the sale value of your property. This is to prevent leaving the beneficiaries in debt.

To compare Equity Release providers click here and complete the short form.