If you're curious about Santander's equity release products and services, you will be pleased to know that the bank offers later-life lending solutions.

Santander partners with Legal & General to provide a preliminary assessment for equity release eligibility, connecting you with an expert adviser once you qualify.

This adviser will guide you through the entire process, ensuring you have a comprehensive understanding and can make well-informed decisions.

The team at EveryInvestor has compiled this handy guide by examining all the latest news on Santander's equity release offerings, making it easy to read and understand.

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

Does Santander Offer Equity Release in 2025?

Santander does not directly provide equity release products like lifetime mortgages.

Instead, the bank acts as a facilitator by assessing eligibility and referring customers to Legal & General.

This partnership means Santander customers can explore equity release with expert guidance while retaining the trusted oversight of their existing bank.

Prospective customers must be over 55, live in the UK, and own a qualifying property—typically valued at over £70,000.

Santander and Legal & General: A Partnership Overview

Santander’s partnership with Legal & General has been in place since 2016 and renewed in 2021.

This collaboration allows Santander to connect eligible customers with one of the UK’s largest equity release providers.

The partnership ensures advice is provided by an FCA-regulated adviser, backed by Legal & General’s focus on later-life lending.

While Santander facilitates the first step, all product advice and arrangements are completed through Legal & General.

If you're considering equity release and want to compare options, view our top-rated equity release companies.

How Does Santander's Assessment Process Work?

Santander begins with an initial assessment, free of charge, to determine your eligibility for equity release or other financial solutions.

General Criteria Include:

• You must be at least 55 years old.
• You must own a UK-home used as your main residence.
• The property typically needs a value of £70,000 or more.

If you qualify, Santander will introduce you to a specialist from Legal & General who can provide personalised guidance and help determine the best financial product for your needs.

Alternatives to Full Equity Release Offered by Santander

For those who may not qualify or who want extra flexibility, Santander offers alternatives to standard equity release.

These include:

• Remortgaging: Replacing your current mortgage with a new deal to unlock some equity.
• Personal Loans: Fixed loans that can help meet immediate expenses without selling your home.
• Downsizing: Selling to move into a smaller property, thereby releasing cash.

Each alternative has its own pros and cons, and a personal adviser can walk you through them in detail.

To see equity release eligibility and cost considerations, explore our equity release checklist.

Later-Life and Interest-Only Mortgages

Santander’s later-life mortgage range provides financing with more flexibility than traditional equity release.

Key Features:

• Available for customers aged 60 and over.
• Loans structured to support manageable repayments.
• In some cases, the capital doesn't need repayment until the property is sold.

The interest-only option allows customers to keep monthly payments low while ensuring any remaining balance is repaid when the home is eventually sold.

This is particularly attractive to those on fixed incomes who still want to retain more estate value than with lifetime mortgages.

For those interested in inheritance planning, read our guide on inheritance protection and equity release.

Using Santander’s Remortgage Tools

Santander also offers a remortgage calculator that helps customers estimate how much equity they can release or how much they could save by switching mortgage deals.

This is useful for older homeowners seeking mortgage options without going down the full equity release route.

It’s particularly helpful for those over 65 looking to unlock equity and potentially access better rates.

To model different remortgaging or equity release scenarios, visit the equity release calculator.

Pros and Cons of Equity Release with Santander

Advantages:

• Free eligibility assessments available.
• Partnership with Legal & General ensures FCA-regulated advice.
• Access to multiple later-life lending options beyond just equity release.
• Santander brand trust for existing customers.

Drawbacks:

• Santander does not offer equity release products directly.
• Product choice is limited to what Legal & General offers.
• Equity release can reduce your estate’s value and may incur compound interest costs.
• Upfront adviser or legal fees could apply via Legal & General.
• Independent alternatives may be more extensive when explored outside the partnership.

For a wider comparison, check our best equity release companies.

What Services Does Santander Offer?

Outside of equity release facilitation, Santander offers:

• Mortgages
• Credit cards
• Personal loans
• Savings and investments
• Current accounts
• Travel and home insurance

Legal & General handles most insurance and later-life lending products post-referral.

Customer Experience and Reviews

Santander generally receives favourable ratings for its financial product range and online banking interface.

However, critiques include:

• Inconsistent service speeds in branches
• Limited weekend customer support hours
• Product availability restricted to its partnership model

Customer reviews can be found across sites like Trustpilot and SmartMoneyPeople.

How Did We Review Santander's Introductory Role in the Equity Release Process?

Our review of Santander's role in the equity release process focused on evaluating how effectively the bank informs and guides its customers through the initial stages of considering equity release. Our review of Santander's role in the equity release process focused on evaluating how effectively the bank informs and guides its customers through the initial stages of considering equity release.

We assessed the clarity of information provided, the accessibility of equity release resources, and the quality of customer service when facilitating introductions to Legal & General for detailed advice.

We also considered feedback from customers who have gone through the process with Santander, with this feedback providing valuable insights into the overall customer experience and highlighting areas where Santander excels or could improve in helping customers navigate their equity release journey.

What Are the Regulatory Details for Santander?

Santander is authorised and regulated in the UK by the Financial Conduct Authority (FCA)¹¹ and the Prudential Regulatory Authority (PRA).¹²

What FCA-Permitted Services Does Santander Offer?

• Insurance
• Investments
• Other Services

What Are Santander's Registration Numbers?

• FCA Ref Number: 106054
• Companies House Number: 02294747

Santander's FCA and Companies House Links

• FCA Link: FCA Link
• Companies House Link: Companies House Link

Common Questions

Final Thoughts

While Santander doesn’t offer its own equity release product in 2025, it plays a valuable role in connecting customers with trusted providers via Legal & General.

From free eligibility checks to tailored mortgage solutions, the bank helps older homeowners navigate their options for releasing home equity with confidence.

Whether you choose a lifetime mortgage, later-life interest-only product, or a remortgage, Santander’s tools and services are built to help you understand your options clearly.

As always, it’s essential to compare options and seek regulated advice to ensure the solution you choose aligns with your long-term goals.

Disclaimer:
All information provided was accurate at the time of writing in July 2025. Terms, partnerships, and eligibility criteria may change.