Best equity release providers best equity release

The UK equity release market is served by a range of established providers, each offering different plan types, rates, and features. All reputable providers are members of the Equity Release Council, which means their plans come with important consumer protections including the no-negative-equity guarantee.

Leading providers include Aviva, which offers competitive lifetime mortgages with drawdown and lump sum options; Legal & General, known for flexible repayment features; Canada Life, which provides plans with inheritance protection; LV= (Liverpool Victoria), offering plans with downsizing protection; Just, which specialises in plans that consider your health to offer enhanced rates; and more2life, a specialist provider with flexible plans for a range of circumstances.

Other providers worth considering include Pure Retirement, Standard Life Home Finance, and OneFamily. The best provider for you will depend on your age, property value, health, and what you want to use the funds for. An equity release advisor can compare plans from across the market to find the most suitable option. Before committing, it is worth understanding the pros and cons of equity release to make sure it is the right choice.

Interest rates on equity release plans vary significantly between providers and plan types. As of mid-2026, fixed rates on lifetime mortgages typically fall between 5.5% and 7.5% MER (monthly equivalent rate). The rate you are offered depends on several factors including your age, the value of your property, the percentage of equity you want to release (known as the loan-to-value ratio), and your health.

Some providers offer enhanced rates if you have certain health conditions or lifestyle factors. Just, for example, is well known for offering lower rates to applicants with health conditions, because they use medical underwriting to price plans individually. This can make a significant difference: even a 0.5% reduction in interest rate can save tens of thousands of pounds over the lifetime of the plan due to the effect of compound interest.

It is important to compare rates on a like-for-like basis. Look at the AER (annual equivalent rate) rather than the headline rate, and make sure you understand whether the rate is fixed for the life of the plan or variable. Most modern equity release plans offer fixed rates, giving you certainty about how your debt will grow. For current rate information, see our guide to lifetime mortgage rates.

Beyond interest rates, several plan features can make a significant difference to how equity release works for you. Here are the key features to compare when looking at different providers:

• Drawdown facility: Rather than taking all the money as a lump sum, drawdown plans let you take an initial amount and then withdraw more as needed. You only pay interest on what you have actually taken, which can significantly reduce the total cost. Most leading providers now offer this option. Learn more about drawdown vs lump sum lifetime mortgages.
• Voluntary repayment options: Many plans now allow you to make voluntary repayments of up to 10% of the original loan amount each year without penalty. This helps control the growth of your debt.
• Inheritance protection: Some providers offer plans where you can ring-fence a percentage of your property value for your beneficiaries, guaranteeing they will inherit a minimum amount.
• Downsizing protection: This feature allows you to repay the plan without early repayment charges if you move to a smaller property, typically after a set period (often five years).
• No-negative-equity guarantee: All Equity Release Council members include this, meaning you (or your estate) will never owe more than your home is worth.

The amount you can release depends on your age and the value of your property. Generally, the older you are, the higher the percentage of your home's value you can unlock. Most providers allow you to release between 20% and 60% of your property value, with the upper end available to those aged 80 and above.

As a rough guide, a 65-year-old homeowner could typically release around 25% to 33% of their property value. For a home worth £300,000, that means between £75,000 and £99,000. At age 75, this could increase to around 40% to 50%, or £120,000 to £150,000 on the same property. Some providers offer higher maximum amounts than others, so comparing across the market is important.

Health and lifestyle factors can also increase how much you can borrow. If you have certain medical conditions, smoke, or take regular medication, providers that offer enhanced plans may let you release more. To get a personalised estimate, try our equity release calculator or speak to a qualified advisor who can search across all providers.

The total cost of equity release goes beyond the interest rate. When comparing providers, make sure you factor in the following costs:

• Arrangement fees: Some providers charge an arrangement or application fee, typically between £500 and £1,500. Others waive this fee entirely, so it is worth checking.
• Valuation fee: Your property will need a professional valuation, usually costing between £300 and £600 depending on the property value. Some providers include this in their arrangement fee.
• Solicitor fees: You will need independent legal advice, which typically costs between £700 and £1,200. Your solicitor will explain the plan terms and handle the legal process.
• Advisor fees: A qualified equity release advisor will charge for their advice, typically between £1,500 and £2,000. This can often be deducted from the amount released. When you use Money Saving Advisors, there are no upfront fees for the matching service.

The biggest long-term cost is compound interest. Because you typically do not make monthly repayments, the interest is added to the loan and then you pay interest on the interest. Over 15 to 20 years, this can more than double the original amount borrowed. For a detailed breakdown, read our guide to equity release costs.