Expert VerifiedDoes The Family Building Society Offer Equity Release in 2025?
- 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:
- The Family Building Society does not offer equity release but focuses on options like retirement mortgages, presenting a viable alternative to equity release for those over 55.
- Committed to responsible lending, the Family Building Society prides itself on offering personalised customer service with flexible lending criteria.
- Their mortgage options accommodate borrowers who might not meet the qualifications for traditional mortgages, often due to age constraints or other factors.
If you are currently researching The Family Building Society and the financial services they offer, you have come to the right place.
Our experts are working tirelessly to secure the best information available about the UK's most renowned financial institutions and top equity release providers, offering a number of financial services.
In This Article, You Will Discover:
Therefore:
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 The Family Building Society. This article must not be interpreted as advice, nor is it a solicitation to conduct transactions in any financial product provided by The Family Building Society.
Who Can Guide You Through Equity Release Alternatives at The Family Building Society?
Industry experts and qualified advisers at The Family Building Society can guide you through equity release alternatives, offering expert, tailored advice to meet your specific needs.
Who Are the Experts Behind The Family Building Society?
The Family Building Society is an award-winning building society that has been offering financial services since 1896.1
In 2014, The Family Building Society was started by National Counties to help families wanting to become homeowners.2
How Does Equity Release Work?
Equity release lets homeowners over 55 unlock the financial value of their home while continuing to live in it.
It's a flexible option for accessing wealth tied up in your property, often used for enhancing retirement lifestyles or assisting with financial planning.
In equity release, there are typically two options: lifetime mortgages and home reversion.
With a lifetime mortgage, you take out a loan secured against your home, with the amount repaid from your estate after your death.
Home reversion, on the other hand, involves selling a portion of your property to a provider for a lump sum or regular income, while retaining the right to live there.
Read More: Releasing Equity In Your House
Why Choose The Family Building Society?
You should consider The Family Building Society because it has been in business for a considerable time, seeking to assist people in purchasing properties.
More reasons to consider The Family Building Society:
- It offers mortgages to meet your needs.
- It is an award-winning society.
- It has years of experience and a proven track record.
- The approach to mortgages is that each deal is different, and no one approach is suitable for everyone.
- It offers interest-only mortgages up until the age of 89.
What Are the Advantages and Disadvantages of The Family Building Society?
The advantages and disadvantages of The Family Building Society are that it works on a case-to-case basis for each application; however, it does not offer equity-release products.
More information:
Benefits of Choosing The Family Building Society
The pros of The Family Building Society include that they accept clients up to the age of 89.
More information:
- Anyone over the age of 65 can apply; retirement is not a prerequisite.
- It takes into account income earned up until the age of 70.
- The terms it offers are longer than those of most other lenders.
- It takes a personal approach to lending done on a case-to-case basis.
- Reduced interest rates are offered for up to ten years.
Considerations Before Opting for The Family Building Society
The cons of The Family Building Society include that you can only apply when you are 65 and over.
More information:
- You can only apply for retirement mortgages when you are over 65.
- It does not offer traditional equity release options.
- If you do not keep up repayments on your mortgage, you could face foreclosure.
What Financial Services Does the Family Society Provide?
The Family Building Society provides financial services, including mortgages, savings accounts, and insurance products, catering to the diverse needs of families and individuals.
What Financial Solutions Does The Family Building Society Provide?
The Family Building Society offers a range of insurance, mortgage, and savings services.
The services offered by The Family Building Society:
- Mortgages
- Later Life Mortgages
- Savings Offset Mortgages
- Savings Accounts
- Bonds
- ISAs
- Winfall Bonds
- Tracker Savings
- Children's Savings Accounts
Does The Family Building Society Offer Equity Release Plans?
No, The Family Building Society does not offer equity release plans in a traditional sense.
It can, however, refer you to its partners The Equity Release Experts, who will be able to advise you and help you select an equity release plan.
Other options
The Family Building Society does offer different later-life lending products, such as a RIO mortgage and a retirement booster.
What Interest Rates Does The Family Building Society Offer?
The RIO mortgage on offer from The Family Building Society has an initial interest rate of 5.97% to 6.28%*, which is fixed for five years and will then change to 5.54%* as a follow-on rate.
Interest rates on offer with the Retirement Lifestyle Booster Mortgage are 3.89%* for the first ten years and then a follow-on rate of 5.54%* after that.
Also:
The Family Building Society also offers standard mortgages to retirees, and the rate you may receive on these products will depend on your home's value and age, as well as the loan term.
*While we regularly review our rates, these may have changed since our last update.
Understanding The Family Building Society’s Fees and Charges
The Family Building Society’s fees include items such as valuations and advice fees.
More information on its fees:
- Valuation fees: A fee will be charged for new applications.
- Application fees: £175 will be charged for applications.
- Solicitors fees: You will need to cover your own solicitor's fees.
- Advice fees: Your adviser will charge their own fees, which you will need to cover.
As a rule of thumb, the fees for equity release normally total between £1,500 to £3,000, and you would probably do well to plan for a similar amount for an RIO mortgage.
*The features mentioned and the amounts raised, are subject to the lender’s criteria, terms, and conditions. These may take into account the age, health, and lifestyle factors in order to provide an enhanced amount.
Where Can You Get Financial Advice When Considering Equity Release?
When considering equity release, obtaining financial advice from an independent, qualified adviser is crucial.
Advisers specialising in equity release can provide a comprehensive overview of the product, its benefits, and potential risks.
They can also offer a market-wide comparison, ensuring that the chosen product aligns with the individual's financial goals and circumstances.
The provider recommends consulting advisers registered with the Equity Release Council to ensure high standards of advice and consumer protection.
How We Analysed The Family Building Society Reviews
We compiled this guide about The Family Building Society by studying all the relevant information and its product offerings.
NOTE: This article is an unaffiliated, independent, third-party, review of The Family Building Society.
What Customers Are Saying About The Family Building Society
The Family Building Society reviews have mainly been complimentary.
They have a 4.5 out of 5 rating on Trustpilot.
Customers have applauded them for providing great facilities and customer service.
Are There Equity Release Alternative Calculators at The Family Building Society?
Yes, The Family Building Society has an RIO mortgage calculator.
However, if you are looking for an equity release calculator, you can always use our equity release calculator for an approximation of how much equity you could release.
Addressing The Family Building Society Complaints
The Family Building Society complaints can be directed to the team in the following ways:
- In writing - address complaints to:
The Family Building Society, Ebbisham House, 30, Church Street, Epsom, Surrey, KT17 4NL. - By telephone - call on 03330 140 146
- By email - mortgage.service@familybsoc.co.uk
- In person at one of The Family Building Society branches
The Family Building Society is committed to trying to resolve any of your concerns in a timely manner.
Alternatively, you can leave a review on one of the popular review sites for The Family Building Society’s attention.
The Family Building Society's FCA Registration Insights
FCA registration affirms the society's compliance with industry standards, enhancing trust and security for customers.
The Family Building Society's Trading Names Explained
- Family Building Society
- NCBS
- National Counties Building Society
Permitted Financial Services by The Family Building Society
- Banking
- Insurance
- Mortgages and Home Finance
- Pensions
- Investments
- Other Services
Who Regulates The Family Building Society?
- Financial Conduct Authority (FCA)3
The Family Building Society's Registration Numbers Decoded
- FCA reference number: 206080
- Mutuals Public Register number: 218B
How to Contact The Family Building Society
- +44 3330 140 141
- Ebbisham House, 30, Church St, Epsom, KT17 4NL, UK.
Common Questions
The Family Building Society is owned by its members.
It operates for the benefit of its savings and borrowing members.
The Family Building Society vacancies can be viewed on its website5.
The current vacancies, application process, and acceptance procedure are detailed on their Careers page.
No, The Family Building Society does not offer equity release as they are not equity release mortgage brokers.
Equity Release is a type of financial product that enables homeowners aged 65 and older to access the equity tied up in their property.
It allows individuals to receive a lump sum or regular payments, while still retaining ownership of their home.
This scheme is designed to provide older individuals with additional funds for various purposes, such as home improvements, medical expenses, or supplementing retirement income.
The Family Building Society equity release scheme offers flexible options for homeowners to access the value of their property without the need to sell it.
By unlocking the equity, individuals can enjoy greater financial freedom and control over their assets.
It’s important to understand the terms and conditions of the scheme, as well as seek professional advice to ensure it aligns with your specific needs and circumstances.
The fees associated with the Family Building Society scheme can vary depending on the specific product and provider chosen.
Common fees include an application fee, valuation fee, legal fees, and potentially an advice fee if you choose to seek professional guidance.
These fees are typically deducted from the loan amount or added to the overall debt.
It’s essential to thoroughly review and understand the fee structure of any scheme before committing to it.
Comparing different providers and products can help ensure you select the option that best suits your financial needs and minimizes costs.
To apply for the Family Building Society, you can start by researching and comparing the products and providers available in the market.
Once you have identified a suitable option, you can typically initiate the application process online or by contacting the provider directly.
During the application, you will need to provide details about your property, personal information, and financial circumstances.
The lender will carry out a valuation of your property and assess your eligibility based on factors such as age, property value, and outstanding mortgage.
It’s advisable to seek professional advice from a qualified equity release specialist who can guide you through the application process and ensure you make an informed decision.
Yes, the Family Building Society is generally considered safe.
Speak to an advisor to be sure you are choosing the product best suited to you and you understand the terms and conditions.
In Short: The Family Building Society
The Family Building Society could be the right fit for you if you are looking for the financial services they have on offer.
They are authorised and regulated in the UK by the Financial Conduct Authority (FCA) and thus adhere to the strict guidelines that are in place.
Not only are they award-winning, but customers also have mostly good things to say about their service and team.
We do recommend that you chat with your financial adviser before making any decision.
The features mentioned and the amounts raised, are subject to the lender’s criteria, terms, and conditions. These may take into account the age, health, and lifestyle factors in order to provide an enhanced amount. To understand the features and risks, ask for a personalised illustration.
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