Is equity release right for me? At Key, we understand that equity release isn’t suitable for everyone. That’s why we’ll always be honest and tell you if we don't believe it's the right option for you. To help, we’ve highlighted a selection of scenarios below where equity release could be the right option for your needs, and when it’s not. Your specialist Key equity release adviser will work with you to determine whether a lifetime mortgage, payment-term lifetime mortgage, or an alternative form of later life finance is most suitable for you during your initial advice appointment.
Examples of when equity release could be the right option I want or need to clear my existing mortgage I want to boost my finances and stay in the home I love I want or need to give my family a financial gift I want or need to make home and or garden improvements to make my property more comfortable in later life My retirement income is not sufficient to make the most of later life My health is declining and I need help with everyday care
Examples of when equity release isn't the right option I don't want to take the risk of being left with limited or no property equity remaining I’m able to afford an alternative product that would reduce my cost of borrowing I need to borrow less than £10,000 I’m not willing to repay any existing mortgage secured against my home I want to use the money for gambling or short-term borrowing needs I want to use the money for investment or business purposes
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