Are you considering unlocking the value of your home to boost your retirement income or support loved ones financially? With property wealth often being the largest asset for many UK homeowners, equity release has become an increasingly popular way to access tax-free cash later in life, without the need to move.
But with dozens of lenders, brokers, and financial products on the market, choosing the right equity release provider is crucial. Interest rates, repayment flexibility, and customer protections can vary significantly between companies. That’s why it’s essential to compare the leading equity release firms in the UK before making such a long-term financial commitment.
In this guide, we explore the top 10 equity release companies in the UK for 2025, examining their product offerings, eligibility requirements, customer protections, and key features. Whether you’re looking for a lump sum, a drawdown facility, or medically underwritten terms, this blog will help you navigate the equity release market with clarity and confidence.
Equity release is a financial arrangement available to homeowners, typically aged 55 and over, that allows them to unlock cash tied up in their property without having to move out or sell the home. This solution is increasingly popular in the UK, where many retirees have significant property wealth but limited liquid income.
There are two main types of equity release:
Homeowners retain the right to live in their property until death or permanent care move, with no monthly repayments in most cases. However, interest compounds over time unless voluntarily repaid during the term.
With equity release being a long-term commitment that impacts inheritance and long-term finances, choosing the right provider is crucial. Each equity release firm differs in terms of interest rates, repayment terms, flexibility, and customer service.
More importantly, selecting a provider that is regulated by the Financial Conduct Authority (FCA) and is a member of the Equity Release Council (ERC) ensures compliance with strict standards, including no negative equity guarantees and the right to remain in your home for life.
Some providers offer optional features such as inheritance protection, downsizing protection, or drawdown facilities to suit individual financial goals. Making an informed decision with a trusted provider helps minimise risks and maximise long-term value.
Several factors must be evaluated when choosing between equity release companies. The most significant include:
Providers that meet these criteria are more likely to offer a stable, secure, and transparent experience.
Choosing a trusted equity release provider is fundamental to ensuring a safe and beneficial experience. Reputable companies are transparent about their fees, interest rates, and loan conditions. They offer accessible customer support and often provide financial tools to help homeowners understand the potential impact of their decision.
These companies are also more likely to offer flexible features, such as voluntary repayments, drawdown facilities, and inheritance protection, ensuring that the plan can adapt to changes in personal circumstances. Importantly, they provide expert financial advice and maintain high ethical standards in customer dealings.
Equity release is not a universal solution for all retirees. It is best suited for those who have substantial equity in their homes and need to supplement their income or fund major life expenses. However, it may not be appropriate for individuals who want to preserve the full value of their estate for inheritance or have alternative financial options available.
For instance, downsizing to a smaller property, accessing state benefits, or using savings may be preferable in some cases. Each homeowner’s situation is unique, and professional financial advice is strongly recommended before entering into an equity release agreement.
Several characteristics distinguish top-performing equity release firms:
A combination of these attributes creates a strong foundation for a trustworthy and client-focused provider.
Interest rates on equity release plans depend on several variables, including the homeowner’s age, the property’s value, and the loan-to-value ratio. Most providers offer fixed interest rates that remain constant for the lifetime of the loan, although some plans come with variable rates linked to market conditions.
The compound interest mechanism means that interest accrues on both the principal and previously accrued interest. Some providers offer options for voluntary interest repayments, helping to reduce the total loan amount over time.
Here’s a simplified example:
| Loan Amount | Fixed Interest Rate | Duration (Years) | Estimated Owed at End |
| £60,000 | 6.20% | 15 | £149,213 |
Note: Figures are for illustration only and will vary by provider and individual case.
Comparing equity release plans involves more than just looking at interest rates. Factors such as loan flexibility, fees, and included features play a crucial role. Online comparison tools and brokers like Age Partnership help homeowners navigate these options more easily.
To conduct an effective comparison:
It’s advisable to involve a financial adviser who is independent and experienced in later-life lending.
Legal & General is one of the UK’s most reputable financial services brands, known for its comprehensive and flexible equity release products.
The company offers three main lifetime mortgage options, each designed to suit different financial needs: the Interest Roll-Up Lifetime Mortgage, the Optional Payment Lifetime Mortgage, and the Payment Term Lifetime Mortgage.
Equity Release Calculator
To help prospective customers understand how much they could release, Legal & General provides an online equity release calculator.
It considers your age, property value, and postcode. While indicative, the results are only a guide, and a personal recommendation is available exclusively through a qualified financial adviser.
The calculator and process are transparent, although users must register their details to receive a detailed calculation. This data may be used for follow-up by the Legal & General team, who use property data to provide more accurate results.
Minimum Borrowing Amounts by Product
| Product Type | Minimum Initial Loan | Additional Drawdown | Max Loan Amount |
| Interest Roll-Up Lifetime Mortgage | £10,000 | £2,000 | Based on age and property value |
| Optional Payment Lifetime Mortgage | £10,000 | £2,000 | Based on age and property value |
| Payment Term Lifetime Mortgage | £10,000 | Not Available | Based on affordability and property value |
Legal & General’s interest rates align with market movements, often influenced by the Bank of England base rate. As of November 2024, the best rate available for equity release was approximately 5.47%, though this varies by product and borrower profile.
Legal & General’s focus on flexibility, transparent costs, and FCA-regulated advice make it a strong choice for homeowners exploring equity release as part of their retirement planning.
Aviva stands out as one of the UK’s most established equity release providers, combining over 325 years of experience in financial services with a specialised focus on later-life lending. Their equity release products come in the form of lifetime mortgages, which allow homeowners to access tax-free cash tied up in their property without having to move out or sell.
Eligibility Requirements
To qualify for Aviva’s equity release products, applicants must meet the following:
Why Choose Aviva?
Aviva combines award-winning products with customer-focused service. They have helped over 282,000 people release a cumulative £11 billion in equity and continue to provide industry-leading solutions through their fixed interest rate lifetime mortgages.
The company includes a no negative equity guarantee, ensuring that homeowners will never owe more than the value of their home when it’s sold, provided it’s sold for the best reasonable price. This guarantee protects both borrowers and their families from unexpected financial burdens.
Aviva’s transparent pricing structure, high borrowing limits, and commitment to expert advice make it a leading equity release provider in the UK.
Pure Retirement has quickly risen to become a well-regarded specialist in the equity release sector. Unlike more general financial service firms, Pure Retirement focuses exclusively on later-life lending and provides a range of equity release products tailored to suit diverse client needs.
The company is particularly known for its commitment to financial advisers. It offers adviser-friendly digital platforms and underwriting options that make it easy for intermediaries to help clients find suitable lifetime mortgage products.
Product Overview
While Pure Retirement’s equity release plans share features with other providers, such as no negative equity guarantees and the right to remain in the property for life, they also stand out for their emphasis on customisation.
Borrowers can often choose flexible repayment options or plans that suit unique health or financial profiles, although full details are typically available through partnered advisers.
Support and Advice
Pure Retirement does not sell directly to the public, which means clients must access its products through financial advisers. This model ensures that each plan comes with qualified, FCA-regulated guidance, helping clients fully understand the long-term implications of their decisions.
Although Pure Retirement may not have the same household name recognition as Legal & General or Aviva, its niche focus, product variety, and adviser-first approach make it an appealing option for those seeking bespoke equity release solutions.
More2Life is one of the UK’s fastest-growing and most innovative equity release providers. With a commitment to transparency and customer protection, the company offers a wide range of lifetime mortgage products backed by fixed interest rates and industry-standard protections.
Key Considerations
More2Life is open about the consequences and limitations of equity release, ensuring customers understand how such plans may reduce their estate value and impact eligibility for means-tested benefits. Its educational resources and clear disclosures help ensure customers make informed choices.
More2Life’s equity release plans include the following protections:
Eligibility Criteria
Applicants must be at least 55 years old and own a UK property valued at a minimum of £70,000. The property must be their main residence and not be unoccupied for more than six months annually. The minimum borrowing amount is £10,000.
More2Life has earned multiple industry awards and is known for its commitment to responsible lending. Its combination of technology-led application processes and strong protections makes it a compelling choice in the UK equity release market.
Canada Life brings financial stability and international reputation to the UK equity release sector. The company offers a wide range of lifetime mortgage products, including plans for primary residences, second homes, and even buy-to-let properties.
Equity Release Products and Fees
Canada Life provides several types of lifetime mortgages, and each comes with its own fee structure and eligibility requirements. Here’s a breakdown of common costs:
| Fee Type | Cost (From) | Notes |
| Valuation Fee | £135 – £975+ | Based on property value; free for initial applications |
| Re-inspection Fee | £118 | Applies to repeat property valuations |
| Completion Fee | £500 + VAT | Covers legal and setup costs; can be added to loan |
| Legal Fees (Lender) | Covered | Borrower must pay for their own legal adviser |
| Additional Legal Fees (Buyer) | Varies | Depending on property type and legal complexity |
Eligibility Criteria
Canada Life offers several specialised products:
Borrowing limits are based on the youngest applicant’s age and the property’s market value. Canada Life also offers an equity release calculator to estimate borrowing potential, but formal advice is needed for applications.
Canada Life’s diverse product offering, strong consumer protections, and transparent fee structure make it ideal for homeowners with complex needs or multiple properties.
LV=, officially Liverpool Victoria, is a respected UK mutual society offering a suite of equity release options tailored to different retirement needs.
Their equity release products come in two core forms: lifetime mortgages and home reversion plans. While lifetime mortgages are far more common, LV= continues to support both models, providing clients with the flexibility to choose the right solution for their circumstances.
Lifetime Mortgages
With a lifetime mortgage, homeowners can access tax-free cash by securing a loan against their home. The homeowner retains full ownership of the property and remains responsible for its upkeep, including insurance.
The loan accrues interest, which is typically “rolled up” over time, meaning interest is charged on the outstanding balance and any previously added interest. The loan is generally repaid from the proceeds of the house sale once the last borrower dies or moves into long-term care.
LV= offers four variations of their lifetime mortgage product:
Home Reversion Plans
In a home reversion plan, all or part of the home is sold to a provider in exchange for a lump sum or regular payments. The homeowner no longer owns that share of the property but retains the right to live in it rent-free or for a nominal fee.
The property must still be maintained and insured by the homeowner. These plans are more rigid than lifetime mortgages and are less popular in the modern equity release market.
Key Features
LV= offers cashback options on all lifetime mortgage products, giving additional flexibility. As a member of the Equity Release Council, LV= includes standard safeguards such as the No Negative Equity Guarantee, meaning homeowners will never owe more than the value of their property.
While Nationwide has ceased offering new lifetime or retirement mortgages, it continues to support existing members through product transfers, additional borrowing, and deal switching. For those already in a plan, Nationwide remains a reliable and transparent option.
Lifetime Mortgages (Existing Customers)
Although no longer open to new applications, existing customers can still:
Borrowing limits are based on age, property value, and the desired amount. Nationwide’s team can provide updated information and personalised advice to ensure decisions remain suitable.
Retirement Interest Only (RIO) Mortgages
For those holding RIO mortgages, switching to a new deal is available without booking or product fees. RIO mortgages allow interest-only payments until death or long-term care, with the balance repaid from the sale of the property.
| Mortgage Type | Deal Period | Initial Rate | Standard Rate After | APRC |
| Fixed | 2 Years | 4.94% | 6.99% | 6.80% |
| Fixed | 5 Years | 4.79% | 6.99% | 6.30% |
| Fixed | 10 Years | 4.79% | 6.99% | 5.70% |
| Tracker | 2 Years | 5.74% | 6.99% | 7.00% |
Retirement Capital and Interest Mortgages
These mortgages combine interest and capital repayments over time, rather than relying solely on the sale of the property to repay the loan.
| Mortgage Type | Deal Period | Initial Rate | Standard Rate After | APRC |
| Fixed | 2 Years | 4.94% | 6.99% | 6.70% |
| Fixed | 5 Years | 4.79% | 6.99% | 6.00% |
| Fixed | 10 Years | 4.79% | 6.99% | 5.40% |
| Tracker | 2 Years | 5.74% | 6.99% | 6.90% |
While Nationwide no longer accepts new applicants, their continued support for existing clients reinforces their reputation for customer loyalty and stability.
Just Retirement, part of Just Group, offers one of the most flexible and customisable lifetime mortgage solutions on the market. Their flagship product, Just For You Lifetime Mortgage, is medically underwritten, which means clients may receive better terms based on their health and lifestyle.
Tailored Lifetime Mortgages
Just’s proposition is built around understanding the homeowner’s personal goals. Their plans cater to a wide range of customer needs, such as:
Medical Underwriting
By answering health and lifestyle questions, clients can potentially unlock higher borrowing amounts or benefit from lower interest rates. According to internal analysis, around 60% of applicants qualify for improved terms under Just’s underwriting approach.
This highly personal offering, combined with transparent advice and strict adherence to Equity Release Council standards, positions Just Retirement as an excellent option for homeowners seeking a more nuanced financial solution.
OneFamily, a mutual society with over two million members, was a pioneer in flexible equity release lending. Although they withdrew all equity release products in 2023, their historical contributions to the market and product innovation are noteworthy.
Past Equity Release Innovations
OneFamily was the first UK provider to offer variable interest rate lifetime mortgages linked to the Consumer Price Index (CPI), with a cap and collar mechanism to limit rate fluctuations. This helped homeowners protect themselves from sharp rises in borrowing costs while benefiting from falling inflation.
Alongside variable products, they also offered:
Each product was designed to provide flexibility based on borrower preferences, whether they wanted to control interest payments or avoid monthly repayments altogether.
Though OneFamily has exited the equity release market, its role in shaping consumer expectations and standards remains significant.
Age Partnership is not a direct lender but a multi-award-winning broker that compares equity release plans across a wide panel of providers. Their goal is to help homeowners find the most suitable plan based on individual circumstances, using tools and personalised advice.
Eligibility and Process
To qualify, the youngest homeowner must be at least 55 years old, and the property must be valued at a minimum of £70,000. If the property is mortgaged, the outstanding amount must be repaid from the funds released.
Services and Costs
Age Partnership offers:
Only if a case proceeds to completion is an advice fee of £1,895 charged. Additional fees from lenders and solicitors may apply, and a full cost breakdown is provided before any commitment.
How Much Can You Release?
Age Partnership also offers a free equity release calculator on their website. It considers:
Clients receive an estimate within seconds and are contacted with more detailed insights if they opt in.
As an independent broker with access to exclusive rates and plans, Age Partnership remains a top choice for homeowners looking to explore all available equity release options without being tied to a single lender.
| Provider | Type of Plans Available | Min. Age | Min. Property Value | Fixed Interest Rates | No Negative Equity Guarantee | Unique Features |
| Legal & General | Lifetime Mortgages (Roll-Up, Optional, Payment Term) | 50 | Based on product | Yes | Yes | Calculator tool, tailored drawdowns |
| Aviva | Lifetime Mortgages | 55 | £75,000 | Yes | Yes | No advice fee, 325+ years of experience |
| Pure Retirement | Lifetime Mortgages via advisers | 55 | Varies | Yes | Yes | Adviser-first platform, plan flexibility |
| More2Life | Lifetime Mortgages | 55 | £70,000 | Yes | Yes | Fixed rates, move home protection |
| Canada Life | Lifetime, Second Home, Buy-to-Let | 55 | Based on property | Yes & Variable | Yes | Multiple property types, detailed fee breakdown |
| LV= | Lifetime Mortgages & Home Reversion | 55 | Varies | Yes | Yes | Four product variants, cashback options |
| Nationwide (existing customers only) | Lifetime, RIO, Capital & Interest | 55 | Based on deal | Yes | Yes | Product transfers, no new customers |
| Just Retirement | Just For You Lifetime Mortgage | 55 | Varies | Yes (medically underwritten) | Yes | Health-based rates, lifestyle tailored plans |
| OneFamily | Withdrawn (2023) | 55 | N/A | Fixed & Variable | Yes | CPI-linked rate (historical), flexible plans |
| Age Partnership | Broker (multi-lender panel) | 55 | £70,000 | Varies by lender | Yes | Free calculator, access to exclusive deals |
Choosing to release equity from your home is a significant financial decision that should be approached with careful consideration and reliable guidance. The UK equity release market offers a wide array of products, from traditional lifetime mortgages to home reversion plans and tailored solutions based on health and lifestyle.
Providers like Legal & General, Aviva, and Canada Life offer flexible, FCA-regulated products with strong consumer protections, while companies like Just Retirement and LV= go a step further by offering medically underwritten or lifestyle-specific options. Meanwhile, brokers such as Age Partnership can assist in comparing products across multiple lenders to help you find a plan that truly fits your personal circumstances.
No matter your goal—whether it’s boosting retirement income, paying off a mortgage, helping family, or simply living more comfortably—equity release can be a practical solution. However, it is not right for everyone. It’s essential to seek qualified financial advice, assess the long-term impact on your estate, and compare all available options before proceeding.
By choosing one of the top-rated equity release companies in the UK, you can ensure your financial needs are met with expertise, transparency, and peace of mind.
If you pass away soon after taking out a lifetime mortgage, the full amount borrowed, plus any accrued interest, will need to be repaid. If this occurs within a lender’s defined early repayment period, a waiver may apply, depending on the provider’s terms.
Yes, many modern equity release plans allow voluntary repayments without early repayment charges. This can help reduce the total interest accrued over time. Some plans even allow partial repayments regularly.
Yes, taking out equity release may impact your eligibility for means-tested state benefits, such as Pension Credit or Council Tax Reduction. It’s important to discuss this with your financial adviser before proceeding.
Absolutely. In fact, many homeowners use the funds released to clear an outstanding mortgage balance. However, the existing mortgage must be repaid as part of the equity release process, and the new loan must be secured solely against your property.
The process typically takes between 4 to 8 weeks from initial enquiry to receiving funds. This includes the financial advice stage, property valuation, legal work, and plan completion.
Some providers charge fees for valuation, legal services, or advice, while others include these costs in the loan or waive them altogether. Broker fees, such as those from Age Partnership, are often only payable upon plan completion.
Yes, many plans allow you to move home and port your equity release loan, provided the new property meets the lender’s eligibility criteria. Some plans also offer downsizing protection, allowing repayment without penalties in certain cases.
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