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Equity Release
Equity release is a big, largely irreversible decision, which is why UK law requires you to get regulated financial advice before you can proceed. We'll explain your options, check the impact on your benefits, and give you a written recommendation.
Equity release advice is a regulated financial advice service. In the UK, a regulated advisor reviews your income, health, property, and family circumstances, explains the equity release options that could suit you from across a wide range of lenders, checks how releasing equity could affect any means-tested benefits, and gives you a written personal recommendation. By law, you cannot take out a lifetime mortgage or home reversion plan without first getting this regulated advice.
A typical equity release advice UK process includes:
Advice can be given face-to-face, by phone, or by video call, and there's no obligation to proceed at any stage. Your home may be repossessed if you do not keep up repayments on a payment-term lifetime mortgage.
Regulation
Equity release advice UK isn't optional. Under the Financial Conduct Authority's mortgage conduct rules (MCOB 8 and MCOB 9), every lifetime mortgage and home reversion plan must be recommended by a qualified, regulated advisor before it can complete. No comparison website, lender brochure, or AI tool can legally replace this step. If you're still working out what is equity release, it's worth reading that first.
The Financial Conduct Authority introduced this requirement because equity release is complex and, in almost all cases, irreversible. Interest compounds over what could be a 20 or 30-year retirement, the debt is repaid from your estate, and the decision affects your family, your benefits, and your options for moving home later in life. Getting it wrong is expensive and hard to undo.
Regulated advice protects you in several concrete ways:
Your home may be repossessed if you do not keep up repayments on a payment-term lifetime mortgage. Think carefully before securing debts against your home.
Money Saving Advisors is authorised and regulated by the Financial Conduct Authority. You can verify any advisor's authorisation on the Financial Conduct Authority Register before your first appointment. For a broader overview of your options, visit our equity release hub.
Equity release is one of the few areas of financial advice where the law removes your ability to go it alone. That's not red tape for its own sake - it exists because the compounding cost of getting this decision wrong can run into tens of thousands of pounds over a typical plan term.
Qualifications
Ask any equity release advisor about their qualifications before you book an appointment - a good one will tell you without hesitation.
The industry standard is CF8, the CII's Certificate in Mortgage Advice and Practice - Equity Release. Before an advisor can sit CF8, they must already hold CeMAP (the Certificate in Mortgage Advice and Practice), the baseline mortgage advice qualification. CF8 builds on this with equity release-specific knowledge covering lifetime mortgages, home reversion plans, interest roll-up, and the impact on means-tested benefits and inheritance.
Financial Conduct Authority authorisation is the legal minimum any advisor must hold to give equity release advice. You can check this yourself in under a minute:
Advisors at Money Saving Advisors hold CF8 and are listed on the Financial Conduct Authority register. When you speak to us, you can ask for our Financial Conduct Authority registration number and verify it yourself at the Financial Conduct Authority register - this takes about 30 seconds and should be standard practice with any firm you deal with.
Ready to talk?
Get a clear picture of your options, the risks, and whether equity release is the right fit for your circumstances.
The process
Every equity release advice appointment follows a similar, regulated structure, whether it's with Money Saving Advisors or another authorised firm. Here's what to expect from your first conversation through to completion, including how your advisor compares current lifetime mortgage rates from across the market.
The advice process
Initial conversation
We gather the basics - your age, property value, any outstanding mortgage, and your reasons for considering equity release. There's no obligation and no cost at this stage.
Fact-find and needs assessment
Your advisor looks at your income, spending, health, existing benefits, and estate planning wishes. A compliant recommendation depends on understanding your full picture, not just your property.
Benefits check
We check whether releasing equity could affect means-tested benefits such as Pension Credit, Council Tax Reduction, or Housing Benefit, before any plan is recommended.
Comparing plans across the market
Your advisor compares suitable plans from a wide range of lenders, modelling how the cost could build over time under different scenarios.
Key Facts Illustration (KFI)
This legally required document sets out the plan's projected costs, how interest rolls up, and the estimated amount owed at various points in the future. Your advisor talks you through it line by line.
Written recommendation
You receive a suitability letter setting out which plan was recommended, and why, in plain English.
Independent legal advice
Before anything completes, a solicitor who's independent of both Money Saving Advisors and the lender reviews the plan with you. This is a regulatory requirement, not a formality.
Costs
Advisors typically work on one of two fee models, and a good advisor will explain theirs upfront rather than leaving you to ask.
Under a commission-based model, the advisor is paid by the lender when a plan completes, so there's no direct fee to you. This doesn't have to affect which products are presented, but it's worth asking your advisor directly whether they receive commission and whether it affects what they recommend.
Under a fixed-fee model, you pay a set fee on completion, regardless of which lender is chosen - across the market you'll often see figures in the region of £1,500 to £2,000 quoted, though this varies by provider and changes over time. Some customers prefer this model because it removes any question about commission influencing the recommendation.
Most firms, including Money Saving Advisors, also offer an initial conversation before any fee applies, so you can understand your options before committing to anything. No recommendation is made at this stage. You can also get a rough starting figure using our equity release calculator, though only regulated advice can confirm what you can actually release and comparing plans from our best equity release companies page can help you see how providers stack up.
Whichever advisor you speak to, ask them to confirm their fee structure in writing before your first appointment.
Fee structure matters less than transparency. I've seen commission-paid advice that was excellent, and fixed-fee advice that wasn't. Ask any advisor to put their fee model in writing before you go further, and treat any reluctance to answer as a warning sign.
Fee models explained
A rate comparison table can't check your benefits entitlement or model your specific circumstances.
Preparation
You don't need everything ready for your first conversation, but having these to hand speeds up the fact-find once you're ready to move forward:
Your advisor will tell you exactly what's needed before each stage - nothing here is required just to have an initial conversation.
Suitability
Equity release advice UK is generally worth pursuing when:
An advisor may recommend an alternative to equity release in some circumstances:
A good advisor will recommend the alternative if it serves you better. If an advisor only ever recommends equity release, ask why.
If you or someone you're helping is experiencing cognitive difficulties, bereavement, or financial pressure, let your advisor know when you call - appointments can be adapted, and a trusted person is welcome to join. For independent, government-backed guidance that's separate from any advisor or lender, contact MoneyHelper at moneyhelper.org.uk or on 0800 138 7777.
When an advisor might recommend something else
Common questions
Yes. Financial Conduct Authority rules require that you receive a personal recommendation from a qualified, authorised advisor before any equity release plan can proceed. This applies whether you're taking out a lifetime mortgage or a home reversion plan.
Initial conversations are often offered before any fee applies. After that, advisor fees are usually either commission-based, paid by the lender on completion, or a fixed fee paid by you, often in the region of £1,500 to £2,000 depending on the provider. Always ask your advisor to confirm their fee structure in writing.
From your initial conversation to a written recommendation typically takes two to four weeks, depending on how quickly you can gather documents and how many options your advisor needs to compare.
Yes. Regulated equity release advice can be delivered by phone, video call, or in person - there's no requirement to meet face-to-face.
You're under no obligation to proceed at any point. There's also a statutory 14-day cooling-off period after a plan completes.
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Equity Release
Our equity release specialists can help you understand your options and find the right plan for your needs.
