Expert VerifiedLV= Equity Release Review (2025): Get the Full Picture!
- Last Updated: 05 Aug 2025
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Be aware. Equity release comes with drawbacks which are important to think about. Lifetime mortgages are secured loans. Compound interest means the amount you owe can grow quickly. Equity release reduces your estate's value and may impact means-tested benefits.Key Takeaways
- LV= lets those over 55 tap into their home's value (owning their space all the while) and receive a lump sum or regular income instalments, with repayment being settled up when you sell or pass on.
- The pros? Tax-free cash, no monthly dues, and you remain in your home. The cons? Lesser inheritance for the family, benefit impacts, and growing interest on the amount you take out.
- Start by talking with LV= experts for a valuation and to get the application ball rolling.
Is your search through equity release lenders leading you to LV= (Liverpool Victoria) equity release?
Established in 1843, LV= has grown to serve over 1.3 million members as one of the UK’s largest insurance providers.1
Of course, the longevity and size of a company do not necessarily guarantee the quality or suitability of its products for individual clients, so could LV= also offer you a potential solution to your retirement planning needs?
In This Article, You Will Discover:
At EveryInvestor, we are committed to providing you with accurate and up-to-date information on equity release and other financial topics.
Our team of financial experts and researchers thoroughly fact-checks every article and ensures the information we provide is obtained from reliable sources. We also update our content regularly to reflect any changes in the market or legislation.
Our goal is to assist you in making informed decisions about your financial future, which, in this case, includes exploring equity release options from LV=.
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 LV=. This article must not be interpreted as advice, nor is it a solicitation to conduct transactions in any financial product provided by LV=.
Understanding LV= Equity Release, Lifetime Mortgages, and Pension Options
LV= provides various equity release and mortgage solutions, tailored for older homeowners looking to unlock their property's value.
Who Are Liverpool Victoria (LV=) and What Products Do They Offer?
LV= offers both lifetime mortgages and home reversion plans, enabling eligible homeowners to access tax-free cash without selling their home. As a mutual society with a long-standing reputation, LV= tailors its products to suit a range of financial needs, with options for lump sum or drawdown payments and flexible repayment features.
The company was first established in 1843 and has since grown to become one of the largest insurance companies in the UK.
It is structured as a mutual society, meaning that it is owned by its members—the policy-holders—rather than shareholders.2
The company has a reputation for customer service, often receiving good rankings in consumer satisfaction surveys.3
What Equity Release and Lifetime Mortgage Products Does Liverpool Victoria Offer?
The equity release and lifetime mortgage products offered by LV= (Liverpool Victoria) are lifetime mortgages that can be taken out as lump sum or drawdown plans.
These options in more detail:
Lifetime Mortgage Lump Sum+
The Lifetime Mortgage Lump Sum+ plan offered by LV= gives you access to a portion of your home’s value as a tax-free lump sum.9
Some of the plan’s features include:
- No interest payments during the life of the loan; repayment happens when you either pass away or move to long-term care.
- Potential for additional borrowing, although this is not guaranteed.
- Loan limit capped at £1.5mln.
- A No Negative Equity Guarantee
- Fixed charges for early repayment that end after a decade.
- The option to make unlimited repayments, from a minimum of £50 up to 10% of the initial loan amount each year without incurring early repayment charges.
- Downsizing Protection, allowing for full repayment from the end of the fifth year onwards.
Lifetime Mortgage Drawdown+
The Lifetime Mortgage Drawdown+ option enables you to leverage a portion of your property's value via an initial loan, while retaining the flexibility to access additional funds from a previously agreed reserve as needed.10
Some of the features of this plan include:
- No interest repayments throughout the loan period; full repayment (loan and accumulated interest) is due at your death or when you move to long-term care.
- An initial loan of at least £10,000.
- Additional withdrawals once a month, each being no less than £1,500.
- An upper lending limit of £1.5mln.
- A No Negative Equity Guarantee.
- Fixed early repayment charges that cease to apply after ten years.
Although the flexibility of this option may be useful, depending on your circumstances, it is important to note that the more you borrow over time, the more interest accumulates, and the more your loan may cost in the end.
What Other Products Does LV= Offer?
LV= offers a wide range of insurance products and services, including car, home, pet, travel, life, and other types of personal insurance.4
The company also offers investment products5 and retirement solutions like Self-Invested Personal Pensions (SIPPs), annuities7, and equity release plans.8
How Have Liverpool Victoria’s Equity Release Products Evolved Over Time?
LV=’s equity release products have evolved significantly since their inception in 2002.11
In 2012, LV= stopped charging interest at a higher rate on lifetime mortgages of more than £600,000.12
In 2021, LV= raised the maximum loan amount on drawdown plans from £500,000 to £1.5mln and scrapped all valuation fees on new lifetime mortgage applications.13
What Are the Key Features and Products of LV= Equity Release?
LV= provides various equity release schemes with key features tailored to homeowners' needs.
No Negative Equity Guarantee: You’ll never owe more than your home’s value.
Flexible Repayment Options: Make voluntary repayments or let interest roll up.
Inheritance Protection: Option to safeguard a portion of your property’s value for your heirs.
Downsizing Protection: Repay in full without penalty if you move after a qualifying period.
Free Initial Valuation: No upfront cost for your first property assessment.
For a detailed breakdown of costs and what to expect, see the equity release costs checklist.
LV= Equity Release Rates and Eligibility for Lifetime Mortgages
LV= equity release plans come with specific interest rates and eligibility criteria for applicants.
What Are the Interest Rates for LV= Equity Release and Lifetime Mortgage Plans?
The interest rates for LV= equity release plans are competitive and designed to fit your long-term financial planning.
They vary based on the product you choose and the market conditions at the time of your application.
It's essential to consult with an LV= adviser to get the most accurate rate tailored to your situation.
What Are the Eligibility Criteria for LV= Equity Release and Lifetime Mortgages?
The eligibility criteria for LV= equity release include being at least 55, owning property in the UK, and taking out the loan against your primary residence.
Age Requirements
The age requirements for LV= equity release plans include criteria commonly found across equity release providers in the UK.
These requirements are:
- You must be between 55 and 95.14
- You need to be a permanent UK resident and provide proof of your address going back three years.15
Property Requirements
The property requirements for LV= equity release plans include criteria commonly found across equity release providers in the UK.
These requirements are:
- Your property must be your main residence and be located on England’s mainland (including the Isle of Wight), in Scotland, or in Wales (including Anglesey).16
- Your property must be worth at least £100,000 but no more than £5mln.17
- Your home must either be freehold or have a very long lease if it is a bungalow or house, or it must have a very long lease if it is an apartment or flat. Leasehold properties must have 175 years left minus the youngest borrower's age.18
- Your home must be well-preserved and constructed from standard materials.19
Speak to a qualified equity release broker or advisor if you wish to explore the possibility of a lifetime mortgage. This article is not a substitute for professional advice and serves only as an additional resource.
Pros, Cons, and Application Process for LV= Equity Release
Choosing LV= for equity release involves weighing its benefits against potential drawbacks, alongside a straightforward application process.
What Are the Benefits and Drawbacks of Choosing LV= for Equity Release?
Before proceeding, it’s vital to weigh the benefits and risks. Here’s what to consider:
Advantages
- Access tax-free cash without moving home
- No monthly repayments required
- Retain full home ownership
- Flexible repayment and inheritance protection options
Drawbacks
Early repayment charges may apply (or to a plan offered by any other authorised and regulated lender).
Compound interest can significantly increase the total owed
Reduces the value of your estate and potential inheritance
May affect eligibility for means-tested benefits
Read on: Pitfalls of Equity Release
What Is the Application Process for Liverpool Victoria Equity Release?
Applying for LV= equity release involves several key steps:
- Seek Independent Advice: Consult a qualified equity release adviser to assess your needs and compare products.
- Property Valuation: An independent surveyor values your home.
- Legal Process: Appoint a solicitor to handle the legal work.
- Offer and Completion: Review the offer, sign the documents, and receive your funds.
For more on the importance of legal and financial advice, visit the Equity Release Council.
To get a better idea of the process, here are the general steps you will need to follow:
- Get professional and impartial advice from a qualified equity release advisor.
- The advisors will compare the whole market and recommend the best plan for your needs, which may or may not be from LV=.
- If you decide to proceed with an equity release plan, you will need to have your property valued by an independent surveyor.
- You will also need to appoint a solicitor to handle the legal aspects of the transaction.
- Once all the paperwork is completed and signed, the funds will be released to you or your solicitor.
Preliminary Steps
The preliminary steps before starting the application process include researching different providers and products to understand what is available.
LV=, like many providers, provides information on its website and through its informational materials.
To get an initial quote, you will typically need to provide some basic information, such as your age, the value of your property, and how much money you are looking to borrow through equity release.23
The Role of Financial Advisers
The role of financial advisors is laid out in the Equity Release Council standards24, and it is a requirement to seek independent financial advice before applying for an equity release product.
Financial advisors can help you:
- ascertain if equity release would suit your personal and financial needs,
- compare various products and providers, and
- complete your application and collect all the necessary documents.
Valuation and Legal Processes
The valuation and legal processes begin once your application has been received, and the provider will arrange for a valuation of your property.
The valuation informs the potential loan amount using equity release.
You will need a solicitor to handle the legalities and coordinate with the provider's solicitor for accurate paperwork.
After these steps, you will receive a formal offer from the provider: Accepting it allows funds to be released to you, either in full or partially over time, based on your chosen product.
How Does LV= Equity Release Impact Inheritance?
LV= equity release impacts inheritance by directly affecting your estate's value, which in turn influences the size of the legacy you can leave for your heirs.
Impact on Estate Value
LV= equity release decreases your estate's value and potential inheritance by loaning you money against your home's worth.
This loan, repaid typically through your home's sale when you die or move into long-term care, reduces the amount left for heirs due to accruing, compound, interest.
Without voluntary repayments, the loan significantly eats into the potential inheritance.
For example, if you own a home worth £500,000 and decide to borrow £100,000 through an LV= equity release plan, this amount, along with any accrued interest, will be deducted from your estate's value, potentially impacting your heirs' inheritance.
Remember:
LV= offers a No Negative Equity Guarantee to protect your heirs from any additional debt should the sale of your home not fully cover your equity release debt.
Inheritance Protection Options
Some providers also offer inheritance protection, reserving a home value percentage for inheritance regardless of interest.
As personal finances and objectives differ, it is crucial to obtain independent financial advice and family consensus before proceeding with equity release.
Costs, Repayment Options, and Adjustments for LV= Equity Release
LV= outlines clear costs, repayment options, and methods for adjusting to changes in circumstances.
What Should I Do If My Financial Circumstances Change After Taking Out LV= Equity Release?
If your financial circumstances change, it's crucial to contact LV= as soon as possible.
LV= offers flexible solutions to accommodate changes, whether it's adjusting your payment plan or exploring other options.
Open communication ensures you find the best path forward without compromising your financial security.
What Costs Are Associated With Liverpool Victoria Equity Release?
The costs associated with LV= equity release products usually include interest, advice, and application fees.
We can look at the possible fees in a little more detail below:
Fees and Charges
There can be several different fees and charges associated with taking out an equity release product.
Including:
- Arrangement fees: This is a fee for setting up the loan, which can sometimes be added to the loan amount.
- Valuation fees: These are charged to cover the cost of valuing your property, but LV= offers a free initial valuation.25
- Legal fees: You will need to appoint a solicitor to handle the legal aspects of the equity release process, and they will charge for their services.
- Early Repayment Charges: If you decide to repay your loan early, you may have to pay an early repayment charge.
- Financial advisor fees: They will usually charge a flat fee for their services or they may be paid a commission by the lender.
Can I Repay My LV= Equity Release Early and What Are the Conditions?
Yes, you can repay your LV= equity release plan early.
However, pay an early repayment charge, which depend on the terms of your agreement and the timing of the repayment.
Discussing this with your adviser will clarify any potential fees and the best strategies for your financial future.
How Can the Liverpool Victoria Bereavement Team Assist With Equity Release and Life Insurance?
The Liverpool Victoria Bereavement Team provides valuable support for families managing the financial aftermath of a loved one’s passing.
If you have taken out an equity release plan or life insurance policy with LV=, the bereavement team will help navigate the claim process, ensuring your family understands the next steps and providing clear communication during a challenging time.
They also offer guidance on the documentation required and work closely with solicitors if needed.
For families managing a property with equity release, the team helps clarify how the outstanding loan is repaid and offers support throughout the process.
LV= Equity Release Calculator, Reviews, and Alternative Options
LV= offers tools and resources for understanding equity release, alongside alternatives and customer reviews.
Is There a Liverpool Victoria Equity Release Calculator Available?
Yes, LV= has an equity release calculator on its website.
The calculator requires you to enter details such as your age and the approximate value of your property in order for it to provide an estimate of how much you may be able to borrow.
You could also try our easy-to-use calculator to obtain an idea of the approximate amount you may be able to access through equity release.
How to Use the LV= Equity Release Calculator to Estimate Your Equity Potential
The LV= equity release calculator is an easy-to-use tool that helps homeowners estimate how much equity they can release from their property.
By entering basic information such as your age, property value, and any existing mortgage, the calculator provides an estimate of the potential loan amount available to you.
This tool is particularly helpful if you're in the early stages of considering equity release, giving you a clear idea of your options without the need for a formal consultation.
Keep in mind that this is an estimate, and you'll need to speak to an adviser for a detailed assessment based on your individual circumstances.
What Are the Alternatives to Liverpool Victoria Equity Release?
Alternatives to LV= equity release include downsizing, options from different providers, applying for state benefits, and capitalising on pension freedoms.
Downsizing
Downsizing means selling your current property for a cheaper one and utilising the surplus money as per your needs. Despite the potential disruption and costs, this may suit if you are ready to move and require less space.
Other Equity Release Providers
Various providers, including LV=, offer differing equity release products, rates, and terms, hence shopping around for a favourable deal is recommended.
State Benefits and Pension Freedoms
Depending on your situation, you may qualify for state benefits, boosting your income. Furthermore, the UK's 2015 pension freedoms allow flexible pension access from 55, offering an alternative to equity release.26
Other Options
Other possibilities involve renting out a room, investing in income-yielding assets, or seeking help from family.
Note:
It is vital to seek independent financial advice before making any decisions about equity release or other financial products.
An advisor can help you understand the full range of options available to you, taking into account your personal circumstances and financial goals.
How Does Liverpool Victoria Equity Release Compare to Other Providers?
Liverpool Victoria stands out for its customer-focused approach, offering flexible equity release plans that cater to a wide range of needs.
Compared to other providers, LV= is known for its transparent terms, competitive rates, and exceptional customer service.
This makes LV= a strong contender if you're looking for a reliable equity release provider.
LV= Equity Release Reviews: What Are Customers Saying About Liverpool Victoria?
LV= equity release reviews have been largely positive.
Customers have applauded the company for being easy to contact and for their competitive offerings.27 Of course, individual experiences may vary.
LV= online ratings average between 4.3 out of 5 and 4.7 out of 5 across different review sites.
For the latest reviews, see what LV= customers are saying on Trustpilot.
What Are LV='s Regulatory Details and Contact Information?
LV= operates under strict regulations, with multiple channels available for contact and inquiries.
How Does Liverpool Victoria Handle Equity Release Complaints and Disputes?
LV= handles complaints and disputes through its customer service team.
You can contact the company by telephone, by letter or by completing its online contact form.
Its complaints contact details are:
Phone: 0800 028 8974
Address: Box 2, LV=, County Gates, Bournemouth, Dorset, BH1 2NF.
Complaints can also be posted on review sites like Trustpilot and Feefo.
How Can You Contact Liverpool Victoria's Customer Service for Equity Release?
LV= Customer Service aims to provide assistance through various channels.
This department offers several contact methods, including:
The company's complaint procedure seeks quick and fair resolutions, and it endorses the Institute of Customer Service’s 'Service with Respect' campaign.28
Remember:
There is always the possibility that the review may not be concluded in the client's favour.
Escalation and Ombudsman Services
If you are dissatisfied with their complaint handling, the Financial Ombudsman Service, an independent body, can intervene, provided you contact them within six months of LV='s final response or after eight weeks from your original complaint.
To escalate your complaint to the FOS, you can:
- Call the FOS on 0800 023 4567 or 0300 123 9123
- Email the FOS at complaint.info@financial-ombudsman.org.uk
- Write to the body at Financial Ombudsman Service, Exchange Tower, London E14 9SR
- Visit the Financial Ombudsman Service’s website.
The complaint review aims for a fair resolution, potentially requiring further information from you or LV=.
The decision, along with its reasoning, will be conveyed to you.
If both parties accept it, it becomes legally binding; if not, court action’s the next step.
This could be expensive and time-consuming.
LV= FCA Registration Details
LV=, formally known as Liverpool Victoria, holds a current registration with the Financial Conduct Authority (FCA) in the UK.
Trading Names
- Liverpool Victoria Financial Services Limited
- Great Deal
- LV=
- LV
- L.V.F.A.S.
- LVFAS
- F.A.S.
- FAS
- Financial Advice Services
- Liverpool Victoria
FCA Permitted Services
- Banking
- Insurance
- Pensions
- Investments
Regulators
Registration Numbers
FCA Ref Numbers:
Registered Company Numbers:
How Can I Contact LV=?
You can contact LV= about its equity release products in different ways, depending on your inquiry.
Some of the options are:
- You can call LV= on 0800 028 8974 for general inquiries about equity release or to request a quote.35
- You can call the company on 0800 051 4475 for specific information on its equity release products.36
- You can write to the LV= head office: LV=, County Gates, Bournemouth BH1 2NF.
- You can visit the LV= website and fill in an online form for specific inquiries.
Regulatory Updates and Consumer Protections
The equity release market is now more tightly regulated, with new standards introduced to protect consumers:
- Mandatory Independent Legal Advice: All applicants must receive impartial legal guidance.
- Enhanced Transparency: Providers must clearly disclose all fees and charges.
- Stronger Safeguards: The no negative equity guarantee and inheritance protection are now industry standard.
For more on consumer rights and protections, visit the Equity Release Council.
Common Questions
If you decide to move house, you may be able to port your LV= lifetime mortgage to the new property.
You will have to contact LV= to ensure the new property meets all the necessary criteria and find out if you will be liable for any fees.
If your new home is worth less than your old one, you may have to repay some of the loan.
Yes, you can still get LV= equity release if you have an existing mortgage, but you will need to use some of the money you release to pay off your mortgage first.
This will reduce the amount of equity you can access and may affect your eligibility for means-tested benefits.37
It is always best to contact an equity release advisor or broker to explore the options available if you have an existing mortgage and what implications this may have on various plans.
There are no tax implications to a LV= equity release plan, because equity release is a loan and not income and therefore does not affect your income tax or capital gains tax.
However, equity release may affect your estate’s value and its inheritance tax liability.38
You should always seek professional advice before taking out equity release to decipher the implications it could have for your financial situation.
Yes, you can repay your LV= equity release early without paying penalties in some circumstances.
A significant life event such the death of a partner (on a joint plan) will exempt the surviving partner from Early Repayment Charges if the loan’s fully repaid within three years of the bereavement.39
Other cases where penalties may not apply include:
- If repayment is made ten years after the plan’s initiation date.
- If the total debt is either lessened or completely paid off using funds from an insurance company due to property damage.
- If the borrower pays off the debt after five years and transitions to sheltered housing.40
Otherwise, you may have to pay an early repayment charge, which can be substantial depending on your outstanding balance and the remaining term of your loan.
If you need to move into long-term care, your LV= equity release loan typically becomes due and is often paid from the sale of your home.
However, if only one partner on a joint plan moves into care, the equity release plan generally continues until the second individual also moves into care or passes away.
For specific terms, it is recommended to consult with your financial advisor or directly with the provider.
Yes, LV= equity release can affect your eligibility for means-tested benefits, such as pension credit, council tax reduction, and universal credit.
It is imperative to consider how equity release will affect your benefits before applying.
Yes, you can take out LV= equity release jointly with your spouse or partner, as long as you are both aged 55 or over and own the property together.
This can provide more security and flexibility for both of you, as the lifetime mortgage will only be repaid when the last surviving borrower dies or moves into long-term care.
Yes, it is possible to increase the amount of equity released after the initial agreement with LV=, depending on the type of product you choose and your circumstances.
For example, if you choose a drawdown lifetime mortgage, you can access more money from a reserve fund whenever you need it, up to a limit agreed with LV=.
If you choose a lump sum lifetime mortgage, you may be able to apply for a further advance if your property value has increased and you meet the lending criteria.41
LV= handles negative equity situations by offering a No Negative Equity Guarantee on all its lifetime mortgages.
This means that you will never owe more than the value of your home when it is sold, and any excess debt will be written off by LV=.
This protects you and your beneficiaries from having to pay any shortfall, although there may be no equity left for your heirs to inherit if this scenario plays out.
LV= ensures that you are not pressured or influenced unfairly by family members when making a decision about equity release by providing free and impartial advice from qualified equity release advisors.
They will compare the whole market and recommend the best plan for your needs.
You can also involve your family members in the process if you wish, but they cannot make decisions on your behalf.
Yes, LV= does offer equity release on non-standard property.
However, they have certain criteria that they look at to determine whether your non-standard property is eligible for equity release or not.
LV Equity Release: Final Thoughts
LV= equity release is a potential solution for those seeking financial flexibility in their later years.
These products offer a No Negative Equity Guarantee and additional borrowing options, but keep in mind that equity release might reduce the amount of inheritance left for beneficiaries, impact your eligibility for means-tested benefits, or result in significant costs if repaid early.
If you're considering an equity release plan, always consult with a financial advisor to ensure it's the right fit and you fully understand the potential implications on your estate's value and inheritance.
Remember, an LV= equity release plan can directly affect your financial future and your legacy but it could also be a means to reaching your financial goals in later life.
Disclaimer: The features mentioned and the amounts raised are subject to the lender’s criteria and terms and conditions. Lenders may take into account age and health and lifestyle factors in order to provide an enhanced amount.
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