Key Later Life Finance Reviews (Updated 2022)

Is Key Later Life Finance the Right Equity Release Company for You?
Contributors: Nicola Date, Katherine Read. Edited by Rachel Wait & Reviewed by Francis Hui
Are You Looking to Release Equity With Key Later Life Finance? Find Out the Pros, Cons, Fees, Interest Rates & Products Offered. Decide Here if Key Later Life Finance Is the Best for You.

Did you know that some financial institutions focus solely on equity release?

Join the 67% of retirees that released equity over the past 20 years who’ve said equity release majorly contributed to their quality of life.

But, the big question is, which equity release lender would be right for you, and do you want to consider a larger bank or an equity release specialist?

Perhaps Key Equity Release could be the answer you’ve been looking for?

As experts in our field, we discuss the following in this article:

    To find the top providers, we reviewed over 220 plans.

    Amongst them, plans provided by Key.

    Here’s what we found!

    Before You Start Reading….

    Let’s See How Much You Can Release 👇

     

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    What is Equity Release & How Does it Work?

    Equity release is a leading UK retirement financial product that allows older homeowners to use the equity that’s tied into their primary residence.

    The equity needs to come from a property with little or no mortgage left.

    The cash released will generally accrue fixed compound interest that not only needs to be repaid from the sale of the residence when the last homeowner dies or enters long-term care.

    Are You Looking for the Key Equity Release Calculator?

    Before you consider using the Key equity release calculator, we want you to know that we’ll probably be able to find you a better rate and that means a great saving!

    Before You Start Reading….

    Let’s See How Much You Can Release 👇

     

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    Who Are Key?

    Key Later Life Finance, formerly known as Key Equity Release, first opened its doors in 1998.

    Then, it specialised in home income schemes.

    What Types of Equity Release are Offered by Key?

    The types of equity release offered by Key are lifetime mortgages.

    A lifetime mortgage continues to be the most popular form of equity release in 2022.

    It allows the homeowners to receive their cash in a lump sum, an initial lump sum with a drawdown, or by receiving a monthly income as a salary substitute.

    Try Our FREE Key Equity Release Calculator

    Try our FREE Key Equity Release calculator to learn how much equity you could unlock through one of their brilliant products.

    You’ll need to provide an estimated property value, your age, and contact details so we can send you your quote.

    An Introduction to Equity Release with Key

    Founded in 1998, Key was originally known as Home Income Gold before rebranding to Key Retirement Solutions in 2001, focusing entirely on equity release products.

    Since then, they have expanded their services but still entirely offer retirement products.

    In 2018, Key celebrated its 20th anniversary by rebranding to Key, part of the Key Group, and the company is proud of its team of 500 employees.

     Since its inception, Key equity release has received over 60 awards, helping over 1-million older homeowners with equity release advice.

    Does Key Offer Other Financial Products Besides Equity Release?

    The Key Group is a financial services company that provides products and services covering the entire later-life lending market.

    It handles product manufacturing and distribution, advisory services, training and tools for advisers, as well as lending and funding capabilities.

    The Pros & Cons of Key Equity Release

    The pros and cons of Key Later Life Finance are that their interest rates are low and they offer a range of retirement alternatives.

    However, releasing equity through the company will decrease the value of your inheritance.

    Here’s more:

    Pros of Key Equity Release

    • Interest rates start low.
    • Their average customer receives interest rates of 3.53%
    • The Key Group is a member of the Equity Release Council.
    • You can choose features to personalise your plan.
    • Their plans available include enhanced lifetime mortgages.
    • They offer free equity release advice.

    Cons of Key Equity Release

    • While your equity release advice is free with Key, there is a completion fee of £599.
    • Their products will reduce the value of your estate.
    • You may no longer be eligible for means-tested benefits.
    • While your equity release advice is free with Key, there is a completion fee of £599.
    • Their products will reduce the value of your estate.
    • You may no longer be eligible for means-tested benefits.

    How Did We Review Key Equity Release?

    We reviewed Key Equity Release by considering all of its data on the products it offers so that we can give you the most credible information about it.

    Key Equity Release Reviews

    Key has received consistently good reviews online.

    Its service, staff knowledge, and professionalism have received the most praise.

    Read its reviews here:

    Trust Pilot – 4.7 out of 5 stars (based on 16,635 reviews)

    Key Later Finance Complaints

    If you’re dissatisfied with your experience and want to file a complaint, the easiest way to do so is to contact them directly through their website.

    They are concerned about their clients’ needs and will refer you to the appropriate department.

    Alternatively, you can submit a review on a review site like Trustpilot or Feefo, and they will swiftly contact you to assist.

    Key Equity Release Interest Rates

    The type of scheme you select will affect the interest rates offered by Key.

    Depending on your situation, equity release interest rates can range from 3 to 5 percent.

    What Are Key Equity Release Fees?

    The fees that Key charges are market-related equity release fees.

    On average, equity release fees are £1,500 to £3,000.

    They may also offer you a free valuation; however, sometimes providers charge for this depending on your plan.

    Equity Release Products by Key

    • Interest rates are as low as 2.77%.
    • You can unlock up to 56% of your property worth.
    • They offer in-house advice.
    • Plans are available from age 55 with a property value of £70,000 or more.
    • They offer customised plans to suit your needs.

    How Do I Know if Key Is the Right Equity Release Provider for Me?

    If you think that Key could provide you with the best possible lifetime mortgage products, you can contact them directly for free financial advice.

    Furthermore, a whole market financial adviser will look at plans across the industry, including Key, to find you the best solution for your requirements.

    Key Contact Number

    Common Questions

    Is Key a Member of the Equity Release Council?

    Who Owns Key?

    Key Jobs?

    Does Key Do Equity Release?

    Is Key Equity Release Safe?

    Is Key Not the One?

    Browse through our comprehensive list covering the best equity release providers available in 2022. Your dream retirement could be a click away.

    In Conclusion

    If you’re looking for Key equity release and want the best rate use the form below.

    Before You Go…

    Use the FREE Calculator Below 👇

     

    Equity Release Calculator

    Value of Your Home?

    50000

    Drag me

    100% Secure & Fast

    It’s VERY FAST, takes just 8 seconds

    Editorial Note: This content has been independently collected by the EveryInvestor team and is offered on a non-advised basis. EveryInvestor may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Learn more about our editorial guidelines.