Age Partnership Equity Release: What to Know in 2024

While Age Partnership does not directly offer equity release products, it specializes in providing equity release advice, including comparisons and tailored advice to meet individual retirement needs, focusing on lump sum lifetime mortgages and drawdown plans.
  • Last Updated: 17 May 2024
  • Fact Checked Fact Checked
  • Our team recently fact checked this article for accuracy. However, things do change, so please do your own research.

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Francis Hui
Are You Considering Age Partnership's Advice on Equity Release? Find Out All About the Type of Advice Offered by Age Partnership. Get the Answers Right Here...
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Key Takeaways
  • Age Partnership specializes in tailored financial advice for over 55s, focusing on alternatives to equity release.
  • Think of them as your go-to for figuring out how to get a steady income from your pension. They dive deep into what you need and what you’re aiming for in your golden years.
  • If you’re considering downsizing or exploring other ways to make your property work for you without going the traditional home equity route, they’re on hand to help guide you through your options.
  • Even though they’re not directly selling you a mortgage or a home reversion plan, their experts are all about showing you the full spectrum of choices, ensuring you’re well-informed.
  • They’re big on the idea that you should look at every angle of your finances when planning for retirement—not just your home. This means checking out your investments, savings, and any other assets you have, to build a comprehensive plan.

The latest 2024 review of Age Partnership equity release options offers a comprehensive and transparent analysis of the company’s offerings and its customer service quality.

Over £2,6 billion in property wealth was accessed through equity release in the UK in 20231 despite the sustained rise in interest rates seen since the previous year, a fact that points to the enduring popularity of these products. 

Could equity release be a viable option for you?

Later-life lending can be a daunting concept with so many leading options to choose from, but we are here to help you navigate the field.

In This Article, You Will Discover:

    The research team at Every Investor is continuously reviewing the industry and consulting with experts to provide the latest updates, and our content undergoes stringent fact-checking and quality control before publication.

    Could Age Partnership be the right advisory service for you?

    Who Offers the Lowest Rates in 2024?

    Discover the Lowest Rates & Save

    Request a FREE call back & discover:

    • Who offers the LOWEST rates available on the market.
    • Who offers the HIGHEST release amount.
    • If you qualify for equity release.
    Age Partnership Home Equity Plan

    NOTEEvery Investor is an impartial and unconnected third-party information provider via this website, and the details replicated in this commentary represent the opinions of Every Investor only and may not reflect the views or opinions of Age Partnership. This article must not be interpreted as advice, nor is it a solicitation to conduct transactions in any financial product provided by Age Partnership.

    What Is Equity Release and How Can Age Partnership Help?

    Age Partnership provides guidance on equity release, offering bespoke solutions for those over 55.

    What Does Releasing Equity Mean?

    Releasing equity means borrowing against the value of your home to obtain a lump sum or a number of smaller payments without needing to move or sell.

    Some important facts:

    • In the UK, equity release plans are usually available to those aged at least 55.
    • Equity release offers an alternative to downsizing, as it provides a cash injection using the value of your home.
    • The loan, plus interest, is only repaid when your home is eventually sold or when you move into care, which means equity release is a long-term financial commitment.

    Selecting the top equity release firm involves assessing factors like reputation, customer reviews, and the terms offered by the company.

    Read More: Releasing Equity Meaning

    What Equity Release Services Does Age Partnership Offer?

    Age Partnership specialises in a comprehensive equity release service, offering expert advice, tailored solutions, and a detailed comparison to secure the most beneficial deals for clients.

    This approach streamlines the process, from initial consultation to application, ensuring a seamless and informed experience for those exploring their retirement funding options.

    What to Know About Age Partnership

    Age Partnership is one of the UK’s best equity release advisors

    *Based on the volume of plans from a panel of lenders, Q2 2022 – Q3 2022.

    The firm was founded in 2004 and offers tailored financial services to individuals over 50, including advice on mortgages, pensions, wills, lasting power of attorney, and equity release. 2

    Age Partnership also provides clients with access to a wide range of equity release plans from leading lenders.

    Based in Leeds, West Yorkshire, the company employs about 400 people.3

    What Services Does Age Partnership Provide?

    Age Partnership provides comprehensive services, including equity release, mortgages, pension income, and insurance advice, aided by specialist guidance and assistance.

    The latter includes a non-advised lasting power of attorney service as well as a referral service for creating a Will.

    The firm aims to deliver the best value and service to its customers by working with a wide range of lenders.4

    Furthermore:

    The dedicated team of advisors and specialists will consider your personal and financial circumstances before exploring a range of options tailored to your needs.

    Why Choose Age Partnership for Your Equity Release Plans?

    Age Partnership stands out for its tailored advice and comprehensive support in equity release and lifetime mortgages.

    What Advice Does Age Partnership Offer for Equity Release or Lifetime Mortgage Plans?

    Age Partnership offers tailored advice on equity release and lifetime mortgage plans, guiding clients through the available options.

    Broadly speaking, these options include:

    • Lump sum lifetime mortgages
    • Drawdown lifetime mortgages
    • Interest-Only lifetime mortgages
    • Home reversion plans

    The firm’s expertise and knowledge enable its team to handpick the plans best suited to your circumstances and goals.

    How Can You Incorporate Age Partnership Equity Release into Your Financial Planning?

    You can incorporate Age Partnership equity release into your financial planning by understanding your goals and circumstances in the first instance.

    Then, consult with an Age Partnership advisor to explore how equity release could align with your retirement plans and long-term financial objectives.

    Your advisor will provide personalised guidance on the most suitable equity release options tailored to your needs.

    Why Might You Consider Age Partnership’s Advice?

    You might consider Age Partnership’s advice on equity release because the firm has access to a wide range of plans from leading lenders. 

    The company’s reputation and relationships with various UK providers could mean that you qualify for:

    • Lower lifetime mortgage rates
    • Cash bonuses
    • Free valuations

    In addition to the above, working with Age Partnership affords you these benefits:

    • Initial advice is provided for free and without obligation; a fee will be payable only if you choose to proceed and your case is completed.
    • You can attend telephonic or video appointments.
    • You will enjoy peace of mind knowing you are dealing with an award-winning service.5
    • You will have access to a range of exclusive plans.6
    • Plan comparisons across leading providers can help you make a more informed decision.

    How Does Age Partnership’s Equity Release Advice Compare to That of Other Firms?

    Age Partnership’s equity release advice compares favourably to that of other firms in terms of its comprehensive service and customer focus.

    They are known for providing tailored advice that closely matches individual financial situations and goals.

    The firm offers a wide range of options and clear explanations of the potential impacts and benefits, ensuring clients make informed decisions.

    Additionally, Age Partnership prioritises transparency, ensuring clients fully understand the terms and implications of their equity release agreements.

    What Fees Does Age Partnership Charge?

    Age Partnership charges an advice fee of £1,895, which is only applicable if your case completes.9

    The initial no-obligation consultation is free, and you will receive a bespoke recommendation document as part of this service. 

    Other fees you may have to pay later in the process include:

    • Valuation fees
    • Arrangement fees
    • Solicitor fees
    • Consultation fees

    What Interest Rate Advice Does Age Partnership Provide?

    Age Partnership provides interest rate advice on equity release and mortgages, and the nature of this advice will depend on the plan and provider you choose. 

    Based on the Equity Release Council’s6 spring report, the average equity release interest rates are around 5.25% to 6.30%.*

    *While we regularly review our rates, these may have changed since our last update.

    What are the Legal & Financial Implications of Age Partnership’s Equity Release Advice?

    The legal and financial implications of Age Partnership’s equity release advice indirectly include the impact of an equity release loan on inheritance and debt.

    Let us take a closer look at the potential implications once you have taken out an equity release loan:

    • By releasing equity, you are essentially borrowing against the value of your home, which can impact your eligibility for means-tested benefits or grants.
    • Equity release may significantly increase your overall debt over time owing to the effects of compound interest.
    • Consider potential tax implications, such as Inheritance Tax or Capital Gains tax, that may arise from equity release (depending on what you use your funds for).

    Professional advice and a thorough understanding of the terms are essential before proceeding with equity release.

    Are You Eligible for Equity Release Through Age Partnership?

    Eligibility for equity release with Age Partnership depends on your property value and age, among other criteria.

    What Are the Qualification Criteria for Equity Release Through Age Partnership?

    The qualification criteria for Age Partnership’s recommended equity release plans include requirements based on age and property ownership.

    The broad qualifying criteria for equity release are:

    • You are 55 or older.
    • You own property in the UK.
    • The home you want to borrow against is your main residence. (Some lenders allow equity release on rental properties, but this is not the norm.)8
    • Your home is worth a minimum of £70,000.
    • You have little or no existing mortgage on your property.
    • There are no more than two people on your property title deed.

    Can I Calculate My Equity Release With Age Partnership & Do They Provide a Calculator?

    Yes, you can calculate your equity release with Age Partnership, and they do provide a calculator.7

    If you are testing the waters, use the fast calculator at the top of this article to see approximately how much you could borrow through equity release.

    Considering the Pros and Cons: Is Age Partnership Right for You?

    Age Partnership helps weigh the benefits and drawbacks of equity release, tailored to individual financial situations.

    What Are the Advantages of Using Age Partnership?

    The advantages of using Age Partnership include gaining access to leading equity release plans.

    More advantages of taking advice from Age Partnership:

    • You will have access to award-winning equity release advisors. 
    • Your advisor will review a wide range of plans from leading lenders.
    • You will get free initial advice to help you determine if equity release is right for you, and you will only be required to pay a fee if your case completes.
    • The company is a member of the Equity Release Council.
    • Age Partnership is authorised and regulated in the UK by the Financial Conduct Authority (FCA).8
    • You will obtain a free, no-obligation quote from an advisor.

    What Are the Disadvantages of Using Age Partnership?

    The disadvantages of using Age Partnership include its impact on your estate, the potential for significant debt accumulation, and the effect on means-tested benefits.

    Here are the main cons of making use of Age Partnership’s services:

    • A £1,895 fee becomes payable upon completion of your equity release plan.
    • Equity release will affect the inheritance you can leave to your loved ones when you pass away.
    • Equity release may not be suitable for everyone, which is why your advisor will ask you to consider other options before proceeding.
    • Once you have taken out an equity release plan, no other borrowing can be taken out using your home as security.
    • Advice is required before proceeding with equity release.

    How Trustworthy Is Age Partnership?

    Age Partnership is renowned for its reliability and adherence to regulatory standards in providing equity release advice.

    How Reliable & Trustworthy Is Age Partnership?

    Age Partnership is deemed reliable and trustworthy, with positive reviews and strong compliance records underscoring its reputation in the financial services industry.

    What Was Our Process for Reviewing Information on Age Partnership?

    Our process for reviewing information on Age Partnership involved compiling and considering all available data on the service Age Partnership offers.

    Our team studied the firm’s own literature and reliable industry sources.

    What Are Clients Saying About Age Partnership?

    Client reviews are, for the most part, positive, with the majority of people praising their response time, knowledge, and personal service. 

    What clients have to say: 

    Can You Find Client Success Stories With Age Partnership Equity Release?

    Yes, you can find numerous client success stories attesting to the effectiveness of Age Partnership equity release.

    These clients highlight how equity release through Age Partnership has provided them with financial freedom and peace of mind in retirement.

    Christine’s story

    Christine is an Age Partnership client who was advised to take out equity release in order to remain in her home with her five beagles.9

    Mike’s story

    Mike used equity release to stay in his home, which is large enough for his grandchildren to stay in when they visit him.10

    Iris’s story

    Iris’s equity release application was completed within four weeks, and she was very pleased with Age Partnership’s clear explanation of the process.11

    These stories serve as valuable testimonials, demonstrating the real-life benefits of choosing Age Partnership for equity release.

    What Are Common Complaints About Age Partnership?

    Common complaints about Age Partnership relate to communication delays and misunderstandings regarding terms.12

    This highlights areas for potential improvement.

    Complaints can be directed to the company’s Compliance Officer by letter, email, or phone. 

    • Email them: enquiries@agepartnership.com
    • Call them: 0113 8199 659
    • Write to them: The Compliance Officer, 2200, Century Way, Thorpe Park, Leeds LS15 8ZB.

    What Common Misconceptions Surround Age Partnership’s Equity Release Advice?

    Common misconceptions that surround Age Partnership’s equity release advice include misunderstandings about costs, the impact on inheritance, and eligibility criteria.

    One major common misconception surrounding Age Partnership equity release lifetime mortgages is that these plans involve selling your home, which is not the case.

    Instead of selling your home, a lifetime mortgage involves releasing a portion of the equity tied up in your property while retaining ownership.

    Another misconception is that equity release is only suitable for those in financial hardship, whereas it can be a viable option for supplementing retirement income or funding home improvements.

    Are There Any Open Positions at Age Partnership?

    Age Partnership frequently updates its careers page with open positions, offering opportunities in finance, customer service, and more for potential applicants.

    Some of the roles that could be available include:

    • Customer service
    • Advisors
    • Technical assistants
    • Developers
    • Compliance Officers

    Who Regulates Age Partnership?

    The Financial Conduct Authority (FCA) regulates Age Partnership.

    The FCA regulates the financial services industry in the UK and has the power to take action against companies and individuals who are deemed not to be acting appropriately.

    What FCA Details Are Available for Age Partnership?

    FCA details for Age Partnership include their authorised status and registration number, assuring regulatory compliance and trustworthiness.

    Details as registered with the Financial Conduct Authority (FCA) are as follows:

    What Are Age Partnership’s Trading Names?

    • Age Partnership Limited
    • Age Partnership
    • Age Partnership Plus
    • Age Partnership Wealth Management Limited

    What Were Age Partnership’s Previous Trading Names?

    • Age Partnership Retirement Limited

    What Services Are Permitted by the FCA for Age Partnership?

    • Insurance
    • Mortgages and Home Finance
    • Consumer Credit

    What Are the Registration Numbers for Age Partnership?

    Age Partnership Limited:

    • FCA Ref Number: 425432
    • Companies House Number: 05265969

    Age Partnership Wealth Management Limited:

    • FCA Ref Number: 670493
    • Companies House Number: 09073664

    What Are Age Partnership’s FCA and Companies House Links?

    Who Supervises Age Partnership?

    The Equity Release Council (ERC) supervises Age Partnership.

    The entire equity release industry in the UK is supervised by the ERC, which holds companies, advisors, and providers to a series of standards designed to protect clients.

    Getting in Touch and Wrapping Up

    Age Partnership is easily contactable for enquiries, offering a concluding overview of its equity release services.

    How Can I Contact Age Partnership?

    You can contact Age Partnership by phone, by email, or by post.

    Here are their details:

    • +44 800 0810 077
    • enquiries@agepartnership.com
    • 2200, Century Way, Leeds LS15 8ZB, United Kingdom.

    What Are Common Queries Regarding Age Partnership Equity Solutions?

    How Does Equity Release Work With Age Partnership?

    Should I Consider Age Partnership for Equity Release Advice?

    How Do I Apply for an Equity Release Plan Through Age Partnership?

    Is Age Partnership a Member of the Equity Release Council?

    Where Is Age Partnership Located?

    Who Owns Age Partnership?

    Does Age Partnership Provide Equity Release Services?

    Can I Trust Age Partnership with My Equity Release?

    Final Thoughts on Age Partnership Equity Release

    Age Partnership has earned the trust of many.

    Its award-winning advice and service have earned it a seat at the top of the equity release market. 

    With access to top plans, Age Partnership equity release advisors are in the best position to find you the most suitable plan and negotiate the best deals on your behalf. 

    The features mentioned and the amounts raised, are subject to the lender’s criteria, terms and conditions. These may take into account the age, health and lifestyle factors in order to provide an enhanced amount. To understand the features and risks, ask for a personalised illustration.

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