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 Martin Lewis. This article must not be interpreted as advice, nor is it a solicitation to conduct transactions in any financial product provided by Martin Lewis.

Martin Lewis, founder of MoneySavingExpert, provides guidance on equity release that emphasises caution and thorough research.

He emphasises the importance of seeking independent financial advice, exploring alternatives, and fully understanding the associated costs and risks.

Through his TV appearances and MoneySavingExpert, Martin Lewis does not offer equity release but offers an insightful analysis of this option, emphasising the need to weigh both its potential advantages and inherent risks.

Martin Lewis has appeared on television to highlight the importance of prioritising your quality of life in retirement over concerns about inheritance—his balanced perspective on equity release provides a valuable starting point for anyone considering this financial option.¹

This comprehensive review covers:

• Martin Lewis's specific warnings about equity release risks
• His recommendations for seeking independent financial advice
• Why he emphasises exploring alternatives first
• His guidance on prioritising retirement quality of life
• The regulatory protections he highlights for consumers

For his view on equity release, read on:

Who Is Martin Lewis? MoneySavingExpert Founder's Credentials

Martin Lewis is an award-winning financial journalist, broadcaster, and newspaper columnist.

He’s also the founder of MoneySavingExpert, a well-known website that offers advice and tips on personal finance matters.

Recognised for his expertise in money-saving techniques, consumer rights, and financial education, the Guardian referred to him as ‘The most trusted man in the UK' in 2019.²

Born in Manchester in 1972, Lewis set up the MoneySavingExpert website in his living room for £80.³

In that same article from 2019, the Guardian reports that MoneySavingExpert was among the top 100 sites in the UK and, at the time, had over 16 million visitors every month.⁴  

Lewis sold the website to MoneySupermarket.com in September 2012 for £87 million.⁵

Credentials and Recognition

He was appointed OBE in the 2014 Birthday Honours for services to consumer rights and to charitable services through the MSE Charity Fund and promoted to CBE in the 2022 New Year Honours for services to broadcasting and consumer rights.⁶

Lewis was named the Best Personal Finance Broadcast Journalist in 2020 by ADVFN.⁷

Financial Journalism Background

Lewis studied Government and Law at the LSE and later received a postgraduate diploma in broadcast journalism at Cardiff University.

These qualifications prepared him for a career as a financial reporter and editor for the BBC and ITV.⁸

Consumer Rights Advocacy

Lewis is the founder and chair of the Money and Mental Health Policy Institute.

He has also helped British consumers claw back more than £10 billion in bank charges and PPI, and he donated more than 300,000 textbooks to state schools to assist with financial education.⁹

What Does Martin Lewis Really Think About Equity Release?

Martin Lewis maintains a cautiously optimistic stance on equity release, emphasising that it should enhance quality of life in retirement rather than being viewed primarily through the lens of inheritance preservation.

Significantly, he advocates downsizing as a more cost-effective alternative to equity release, presenting it as the most straightforward strategy to access home equity.

The "Live First, Inherit Second" Philosophy

As can be seen on an appearance on ITV's This Morning in 2018, Lewis advocates that homeowners should prioritise their current financial wellbeing over maximising inheritance, stating that equity release can be justified when it meaningfully improves retirement quality of life.¹⁰

Think Before You Borrow Early

Don't borrow at the earliest possible moment, as the longer your loan exists, the more expensive it will become.¹¹

How Does Equity Release Work? Martin Lewis's Expert Guide

Lewis explains that equity release works through two primary mechanisms, each with distinct risk profiles:

Lifetime Mortgages: The Dominant Product

• This is the most popular type of equity release
• You borrow against your home's value at a fixed or capped interest rate
• Money can be taken as a lump sum or in smaller amounts via drawdown (where interest is only charged on money actually taken)
• Interest compounds rapidly if no repayments are made, as the debt grows continuously
• Most modern lifetime mortgages allow repayments of either capital or interest to reduce overall costs
• Overpayment caps typically limit additional payments to 10% of the loan value annually

Home Reversion Plans: The Alternative

• Home reversion plans are a less popular equity release option for those aged 60+
• Provider pays a tax-free lump sum for a portion of your home at below market value
• You can live in the property until you pass away
• Sale proceeds are split based on the percentage ownership between you and the lender
• Provider waits years to recoup investment, hence the significant discount on the selling price
• Better for flat property prices, worse if property values rise substantially

Martin Lewis's Official Equity Release Guides & Resources

Based on Martin Lewis's official guidance on MoneySavingExpert.com, his approach to equity release emphasises careful consideration and understanding of long-term implications.

Martin Lewis's Specific Equity Release Advice

1. Consider Downsizing First

MoneySavingExpert's equity release article states: "Always consider downsizing first... If you can sell up, move to a smaller home and live off the excess cash you have made, great."

The article also emphasises the need for urgency when it comes to this decision: "If downsizing is right for you, DON'T PUT IT OFF." According to this piece, people often delay, saying they'll do it "in a few years," but eventually they become "too old to leave."¹²

2. Only Borrow What You Need, When You Need It

Martin Lewis's key borrowing advice: "Don't borrow all you need in one go. The sooner you borrow, the more expensive it is, as the interest has longer to compound. So borrow as little as you need now, and wait as long as you can to do it again."

A practical example from the article: "If you think you may need £40,000 from your home to cover 20 years, only take what you need now and wait to take more until needed."¹³

3. Use Only Equity Release Council Members

In the article, Martin Lewis states unequivocally that borrowers who proceed with equity release have to make sure they're using a provider "approved by the Equity Release Council" (ERC).¹⁴

He explains the specific protections ERC members must provide:

• No Negative Equity guarantee
• Fixed or capped interest rates
• Ability to make repayments
• Portable products

4. Get Professional Advice

The MoneySavingExpert article informs readers that it's a regulatory requirement set by the FCA that borrowers receive professional advice before they proceed with equity release.¹⁵

Martin Lewis suggest asking certain questions before deciding on an advisor:

• Are their initial consultations free? If not, how much do they charge?
• Do they charge a fee for their advice? If they do, what is it?
• Can they advise on the entire market or are they tied to a particular provider or group of providers?

5. Consider Impact on Benefits

The article warns that "[having] cash rather than a property can affect the benefits you're entitled to".

This impact can be felt on universal credit, pension credit, and other benefits.

6. Involve Family in the Process

According to the article, distressed family members sometimes report being unaware of the cost involved in repaying a loved one’s equity release plan after their death, or not knowing that equity had been released in the first place.

By involving family members from the outset, the likelihood of any unpleasant surprises during this difficult period is reduced.

Martin Lewis's Cost Analysis

According to MoneySavingExpert, current interest rates on lifetime mortgages begin at around 6%, with the more expensive options reaching up to 8%—a much higher rate than what's typically available on standard residential mortgages.¹⁶

Important

If you choose not to make monthly repayments, the interest compounds over time, significantly increasing the amount owed.

An illustration from the article:

If you borrow £20,000 at age 60 with an interest rate of 6%, the debt roughly doubles every 12 years. By age 72, you'd owe about £40,000; by age 84, it would rise to around £80,000.

Real-life examples from the site's readers illustrate how quickly costs can escalate:

• One person reported a settlement figure of £153,000 for a £21,500 loan taken out 18 years earlier.
• Another discovered their grandmother’s equity release loan had accumulated £100,000 in interest over 10 years—nearly the full value of her £130,000 home.
• A lifetime mortgage of £75,000 taken in 2007 had grown to £221,000 by the time the borrower passed away in 2023, with interest continuing to mount even after death.

In addition to interest, there are several associated fees—typically ranging from £1,500 to £3,000.

These include arrangement and valuation fees, legal costs, and surveyor charges, depending on the specific plan chosen.

What Do People Say About Martin Lewis's Advice?

Opinions on Martin Lewis often reflect an appreciation for his quest to get better deals and more transparency for UK consumers.¹⁷

Some reviews of MoneySavingExpert:

• MoneySavingExpert Society Reviews on UK.TrustPilot.com
• Review of MoneySavingExpert on ReviewCentre.com
• MoneySavingExpert Reviewed on SmartMoneyPeople.com

How to Contact Martin Lewis

Direct Contact Information

• Website: moneysavingexpert.com/site/site-contacts/
• Email: martinlewis@itv.com
• Social media: Instagram account, Facebook page

Professional Enquiries

• Media: press@moneysavingexpert.com
• Agent: knightayton.co.uk/contact/

Frequently Asked Questions About Martin Lewis & Equity Release

How We Researched Martin Lewis's Equity Release Position

We analysed Martin Lewis' view on equity release by gathering information from various reputable UK websites. 

This analysis draws from:

• MoneySavingExpert.com: The popular site built by Martin Lewis.
• Parliamentary records: Lewis's Treasury Select Committee testimonies.
• TV appearances: Lewis's statements on ITV's This Morning¹⁸ and The Martin Lewis Money Show Live¹⁹.
• ERC data: Industry statistics and consumer research

Disclaimer: This article provides independent analysis of Martin Lewis's publicly stated positions on equity release. It is not affiliated with MoneySavingExpert.com or Martin Lewis personally.

Martin Lewis's Final Verdict on Equity Release in 2025

Lewis's evolved position recognises equity release as a legitimate financial tool when used appropriately.

His key message remains: prioritise your quality of life in retirement over concerns about inheritance, but only after exhausting less expensive alternatives.

His 2025 framework emphasises:

• Timing: Later is generally better
• Amount: Less is cheaper
• Alternatives: Thoroughly explore these first
• Advice: Essential, not optional
• Protection: Only consult ERC members
• Review: Regular reassessment required

By applying Martin Lewis's advice about exploring alternatives, carefully assessing costs, and prioritising your retirement comfort over leaving an inheritance, you can get a better idea of whether equity release may provide a solution to your later-life finance needs.

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. To understand the features and risks, ask for a personalised illustration.