Review of SAGA’S Equity Release Product

Are You Considering Saga as a Provider for Equity Release? We Review Saga’s Products, Services & Pros & Cons…
Take a Look at Our Saga Review & Find Out if They’re the Best Equity Release Provider for You

Saga Equity Release

Reviewing Saga Equity Release

Saga has been servicing the financial needs of the over 50 market for more than 20 years, and the company celebrates their 70th anniversary.

Saga’s equity release products are provided through HUB Financial Solutions Limited1.

It prides itself in offering ‘no-pressure’ equity release as the team wants to ensure these products are right for you.

What’s Equity Release?

Equity release is a broad term for a set of products available to later life borrowers.

It allows you to unlock the equity tied up in your property. 

These products allow you, the owner, to remain in your home until you pass on. You’re liable for interest payments, but these are only due when you pass away.

Interest payments during your lifetime are strictly voluntary.

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Who’re Saga?

Saga spent its first 30 year focusing on travel before expanding in the 1980s.

It’s then that they launched the still popular Saga Magazine, and began to offer financial and motor insurance services.

Their services further expanded in the 1990s when they started providing private medical aid and pet insurance services, and they launched their very own cruise ship operation.

The Group develops products in-house or partner with suppliers to offer comparatively priced and differentiated products.

Saga has become the UK’s speciality provider of financial goods and services to those over 50 in the UK. 

Saga is one of the most well-known and trusted companies among UK customers in this generation because of its high-quality goods and outstanding customer care.

HUB Financial Solutions Limited provides the Saga Equity Release services. 

Saga is very well established in the Equity Release Council2. In fact, both Saga Equity Release and HUB Financial Solutions Limited are members of the Council.

Are You Looking for the Saga Equity Release Calculator?

Before you consider using the Ashfords 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!

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Why Consider Saga?

You should consider Saga for multiple reasons; here are a few:

  • Saga offers free advice, so you won’t have to pay any advisory fees; this applies even if you don’t go ahead and use a Saga product.
  • Saga promises a no-obligation policy, so you won’t be pushed into using equity release if it isn’t suitable for you.
  • With Saga, you have a money-back guarantee. Should you wish to repay your loan to Saga, you can do so within 6 months with no interest or early repayment fees.
  • You’ll receive a free check on how equity release may affect your eligibility for state benefits.

Saga’s Reviews & Ratings

Saga’s Online Reviews

Saga has received many online reviews, and the vast majority of customers are more than satisfied with their service and product offering. They’re a reputable and well-respected company in the equity release sector.

Saga’s Online Ratings

Saga has an online rating of 4.7 out of 5 online; this is calculated based on over 11,000 reviews and speaks for itself.

Saga Equity Release 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.

Pros & Cons


  • Saga offers a flexible drawdown option over a long time period.
  • They’re an Equity Release Council member.
  • Saga offers a no negative equity guarantee.
  • You get free advice.


  • A lifetime mortgage will devalue the inheritance you leave to your loved ones.
  • Earning an income from equity release may mean you’re no longer eligible for benefits.
  • Compound interest builds up quickly and can further devalue your estate.

Saga’s Qualification Criteria

To qualify for Saga equity release, you must meet the following criteria:

  • Be 55 years and older.
  • You’re obligated to release more than £10 000.
  • The home you own must be valued at more than £70, 000.

Saga Lifetime Mortgage

The Saga Lifetime Mortgage is an exclusive product that is only offered by Saga and is provided by Just. Free financial advice is included with the Saga Lifetime Mortgage.

What Do Saga Offer?

Saga offers you equity release products focusing on their exclusive product, Saga Lifetime Mortgage.

The Saga Lifetime Mortgage is available to clients who meet the criteria to qualify for their product.

Saga offers 2 options as part of the Saga Lifetime Mortgage product. You can choose to take out the total lump sum you qualify for. This is a typical lifetime mortgage structure.

The second option is to draw a lower amount at first and then borrow further smaller amounts in the future until you reach your agreed limit. This is a typical drawdown lifetime mortgage product.

Saga allows you flexibility by paying off your lifetime mortgage interest amount in full or in part every month if you choose to.

You can also enjoy a payment holiday on your interest instalments of 3 consecutive months within any 12 month period.

Saga’s money-back guarantee is also very favourable in that you can repay your lifetime mortgage in full within 6 months after accepting the offer and receiving funds. You’ll not incur any early repayment fees or interest penalties if you choose to do so.

Saga’s Other Services

Saga is a well established financial provider and offers a fair range of services. In addition to equity release, they provide the following financial products and services:

  • Insurance products
  • Holiday opportunities
  • Care funding
  • Savings
  • Saga Magazine

Saga’s FCA Details

Trading Names

Saga Personal Finance is a registered trading name of Saga Personal Finance Limited, which is registered in England and Wales (Company No. 3023493)

Other Trading Names

  • Direct Choice
  • Saga Select
  • Saga
  • Saga Group
  • Saga Insurance
  • Saga Insurance Services
  • Saga Services
  • Saga Services Limited


Saga is regulated by the Equity Release Council and overseen by the Financial Conduct Authority3 or FCA. 

Registration Numbers

Saga Personal Finance Limited: 3023493

FCA & Company House Links

You can review the FCA information for Saga here, or you can visit their page here.

Contact Number & Address

0800 096 7120


Enbrook Park




United Kingdom


Got Questions About Saga & Lifetime Mortgages?

Is Saga a Member of the Equity Release Council?

Who Owns Saga?

Does Saga Do Equity Release?

Is Saga Equity Release Safe?


We want to make sure that you have accurate information about Saga to make an informed decision as to if they’re the correct provider for your needs.

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Editorial Note: This content has been independently collected by the EveryInvestor advisor 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.