Compare Equity Release (Broker Exclusive Deals)
Equity release comparison is key to finding the right solution for your specific needs.
Later Life Finance compare the whole market to help simplify the process for you.
Equity release comparison is key to finding the right solution for your specific needs. Later Life Finance compare the whole market to help simplify the process for you.
Equity Release Comparison With The Experts

Author Paul Murphy
Later Life Finance
As a specialist equity release broker, Later Life Finance are well positioned to provide an expert insight into equity release comparison & source you the top deals.
We compare the best equity release companies and the top lifetime mortgage providers to help you select the right option for your requirements.
But how do you compare equity release options to get the right plan for your specific needs?
We provide a professional comparison and overview of the options currently available to homeowners, with in depth, side by side equity release scheme reviews to find out who are the best equity release companies.
Get your free comparison...
I have known Paul for a number of years, and he is very professional & knowledgeable and always goes the extra mile for his client's. I would have no hesitation in recommending Paul to any potential clients requiring equity release. Mark Eastwood16/07/2024 Cant than Paul enough for his help. Totally proffecional all the way from our first conversation to our last. Thank you Paul for arranging our life time mortgage. Brian Bircham13/02/2024 Very good Michael Dilucia08/07/2023 My equity release application had been rejected 3 times when I was referred to Peter at Later Life. He was extremely thorough, patient, friendly, and knowledgeable. He helped us with every step of the application and explained everything clearly and patiently. We finally succeeded in getting the equity release we wanted. I cannot recommend them highly enough. Their service goes above and beyond. Very happy customers! Sherry Izadi08/07/2023 Paul has been a rock throughout the most traumatic time of my life. His patience has been endless as I was clueless about my financial complications after the death of my husband. I recommend his services to anyone out there needing his advice and guidance. Hazel Franklin20/10/2022 Paul Murphy was superb in sourcing and arranging my lifetime mortgage and his professionalism was second to none. I would recommend him without reservation. Tony Holloway31/03/2022 Paul did a first class job helping me secure a great rate for my equity release proposition. I like the idea of equity release but at the right rate Paul was competitive and at the expense of his own commission made it happen. I really felt I was the focus not him. The big firms with the fancy marketing were almost twice as much in terms of all- important compound interest. I highly recommend Paul, he works for you, not 'them'. I also felt safe with the solicitors he recommended, they too sent a first class guy who was a pleasure to work with. Equity release is not cheap, it's vital that people like Paul work for your best interest (pun intended). What price can you place on the latter peace of mind having financial security brings. Highly delighted. Mike Murray31/03/2022 We have used Paul's services twice in just over a year. Initially it was to change provider as better interes rates were available. On the annual review it transpired that no early repayment charges would be levied. Being a Yorkshire man l searched for best rates, providers and advisors and it was back to Paul. I have no loyalty where money is concerned but transparency, knowledge and reliability are paramount. That's exactly what we got. Good service, excellent communication, expedience and saved money. Second time around not even a direct fee to pay for the service. Another provider did come up with an option however their fees were somewhat prohibitive, when l brought this to their attention they offered to slash the fee. Not good practice. So after all the waffle. I have no reservations in recommending Paul's services. Anthony Grey08/09/2021 We had reservations about Equity Release plans and approached a number of leading companies. Glad we settled with Paul Murphy and Responsible Life. He was patient and personable and guided us through the process. We received a most professional service, never felt under pressure. The plan is now in place. Excellent communications throughout. No hesitation, would highly recommend Paul. Jw. Jeffrey Wade07/01/2021
Provider | Interest Rate | MER (Monthly) | AER (Annual) |
---|---|---|---|
ABC Equity Release | 3.25% | 0.27% | 3.32% |
XYZ Equity Release | 3.50% | 0.30% | 3.55% |
Provider | Interest Rate | MER (Monthly) | AER (Annual) |
---|---|---|---|
ABC Equity Release | 3.25% | 0.27% | 3.32% |
XYZ Equity Release | 3.50% | 0.30% | 3.55% |
Example Equity | 3.75% | 0.32% | 3.81% |
Equity Master | 3.90% | 0.35% | 3.95% |
Best Returns Equity | 4.00% | 0.38% | 4.06% |
Secure Future Equity | 3.65% | 0.28% | 3.71% |
Steady Growth Equity | 3.80% | 0.31% | 3.86% |
Reliable Investments | 3.95% | 0.34% | 4.01% |
Secure Horizon Equity | 3.60% | 0.25% | 3.66% |
Golden Years Release | 4.10% | 0.40% | 4.16% |
Provider | Interest Rate | MER (Monthly) | AER (Annual) |
---|---|---|---|
ABC Equity Release | 3.25% | 0.27% | 3.32% |
XYZ Equity Release | 3.50% | 0.30% | 3.55% |
Comparing equity release companies: How to find the right solution
In order to help you in comparing the top equity release deals, we compare & review each lender side-by-side to help you research your options.
If you are considering how much can I borrow on a lifetime mortgage and who the best provider is, we assess factors such as equity release scheme flexibility, setup costs and exit fees for early repayment.
By doing so, we aim to help you avoid any companies that do not offer the features you require and determine the best provider for your needs.
For homeowners wondering is a lifetime mortgage is a good idea and how to choose a lender, we provide a complete broker service to source the correct solution for your requirements.
Ready to compare quotes? Book a free call back today to review your options
Compare equity release schemes
Canada Life
Legal & General
Aviva
Nationwide
Just
LV=
Pure Retirement
Standard Life
Crown Equity Release
Livemore
More to Life
Canada Life Home Finance Compared
“We have 3.4 million customers, 470,000 pension annuities in force, and manage more than £42.2 billion of equities, fixed income and property”
Canada Life are an established equity release provider and offer flexible mortgages which allow you draw down money as and when you need it.
They have a flexible repayment option which allows some or all of the monthly interest to be repaid to help reduce the effect of compound interest. Up to 10% of the sum borrowed can be repaid per year.
They also offer a feature called downsizing protection, which offers added flexibility for moving home and settling the plan early.
They have fixed early repayment charges compared to many of the other lenders available.
Legal & General Home Finance Compared
“In June 1836, six lawyers founded Legal & General and our aim to build a better society has been present for as long as we have.
Today we help over 10 million people with savings, retirement and life insurance”
Legal & General offer two Defaqto 4-star rated lifetime mortgages. They offer flexible mortgages that allow you draw down money as and when you need it.
They offer a flexible repayment option which allows some or all of the monthly interest to be repaid to help reduce the effect of compound interest. Up to 10% of the sum borrowed can be repaid per year.
They also offer a retirement interest only mortgage (RIO), which does not offer the same level of protection as a lifetime mortgage, as there is a risk of repossession if the monthly repayments were defaulted on.
Legal & General offer defined exit fees starting at 10% in year 1 which reduces by 1% each year.
Aviva Compared
“We’re a composite insurer made up of separate business areas, covering everything from pensions to pet insurance”
Aviva offers a choice of two Defaqto 4-star rated lifetime mortgages.
They offer flexible mortgages that allow you draw down money as and when you need it.
They have a flexible repayment option which allows some or all of the monthly interest to be repaid to help reduce the effect of compound interest, up to 10% of the sum borrowed can be repaid per year.
Aviva offer defined exit fees starting at 10% in year 1 which reduces by 1% each year.
Nationwide Compared
“We’re a building society, or mutual, owned by our members. That’s anyone who banks, saves or has a mortgage with us”.
Technically Nationwide aren’t a lifetime mortgage lender. They provide mortgages with fixed monthly payments for later life borrowers, including a retirement interest only mortgage. They do not offer a drawdown option.
Their plans differ from a lifetime mortgage as the Nationwide require sufficient income to service the interest payments. The plans are not protected by Equity release council codes of conduct.
Just (JRL Group) Compared
“JRL started out by specialising in guaranteed income for life solutions (provided by pension annuities) and lifetime mortgages”
Just offer a lifetime mortgage that lets you release a one off lump sum or an initial lump sum and extra cash when you need it. They have flexible mortgages that allow you draw down money as and when you need it.
They offer a flexible repayment option which allows some or all of the monthly interest to be repaid to help reduce the effect of compound interest. Just also offer a medically enhanced lifetime mortgage.
Liverpool Victoria Compared
“From humble beginnings we’ve been going strong since 1843!”
LV= offer flexible equity release plans that allow you draw down money as and when you need it.
They offer a flexible repayment option which allows some or all of the monthly interest to be repaid to help reduce the effect of compound interest. Up to 10% of the sum borrowed can be repaid per year.
Liverpool Victoria have fixed early repayment charges compared to many of the other lenders available.
Pure Retirement Compared
“Established in 2014, Pure Retirement was the top of this year’s list of fastest growing businesses in Yorkshire”
Pure Retirement offer equity release plans and have flexible mortgages that allow you draw down money as and when you need it.
They offer a flexible repayment option which allows some or all of the monthly interest to be repaid to help reduce the effect of compound interest. Up to 10% of the sum borrowed can be repaid per year.
Pure Retirement have several plans with varying levels of exit criteria for early repayment.
Standard Life Compared
Standard Life is “a brand that has been trusted to look after people’s life savings and retirement needs for nearly 200 years”.
Standard Life offers two Defaqto 5-star rated lifetime mortgages. These plans are not available across the whole marketplace. Select brokers can arrange their mortgages.
Later Life finance are able to arrange Standard Life plans.
They offer flexible mortgages that allow you draw down money as and when you need it, and a repayment option that lets you repay some or all of the monthly interest to reduce the effect of compound interest.
Up to 10% of the sum borrowed can be repaid per year.
Standard Life have defined exit fees starting at 8% in year 1 which reduces each year.
Crown Compared
“Crown Equity Release is an independent specialist arranger of capital, it has been assisting clients on how to get the most out of their retirement Since 2001”
Crown are an equity release home reversion plan specialist.
A home reversion plan involves selling a share of your property, as opposed to a mortgage where you retain full home ownership.
This arrangement is more permanent than a lifetime mortgage and are difficult to reverse once they are arranged.
More 2 Life Compared
“More2life was founded, with big ambitions to change the equity release market by designing lifetime mortgages focussed on customers’ needs”
More 2 Life offer equity release plans include enhanced terms for certain medical issues, which could increase the level of lending available.
They offer flexible mortgages which allow you draw down money as and when you need it.
They have a flexible repayment option which allows some or all of the monthly interest to be repaid to help reduce the effect of compound interest.
Up to 10% of the sum borrowed can be repaid per year.
More 2 Life have several options with their early repayment charge criteria, most of which are fixed and defined.
Later Life Finance equity release comparison
Later Life Finance are technically a broker. We are passionate about providing expert equity release advice from the whole market on an independent basis. We have access to the best companies, plans and deals available and compare the whole market.
Get in touch with our experts on 0800 2465228 for advice on all your options.
Discovering which equity release company is best for your specific requirements is crucial to ensuring you find the right solution for your current and longer-term plans.
Liverpool Victoria and Canada Life, for instance, offer ‘defined’ early repayment charge criteria for early settlement of the mortgage.
Canada Life also provides ‘downsizing protection’ for moving home and settling the mortgage early.
Other well-known names such as Standard Life and Legal & General offer plans with a wide range of features.
The overall market is competitive, with lenders frequently vying for the most competitive interest rate position.
Some lenders, like More 2 Life, Aviva, and Just, provide medically enhanced lending plans with higher loan-to-value percentages of lending based on health conditions.
When selecting an equity release plan, consider plan features such as the applicable interest rate, any early repayment charges, lender fees, inheritance protection features, and downsizing protection.
Expert advice is important when considering equity release options as lenders have varying levels of plan options, features, and criteria.
The equity release industry is regulated by the Financial Conduct Authority for consumer protection.
It’s not a ‘one size fits all’ approach with equity release companies.
Voluntary repayments & how to compare schemes
Voluntary repayments are a feature of all lifetime mortgages to make repayments toward the loan amount on a voluntary basis which can help you preserve more equity for inheritance or downsizing in the future, for example.
Here’s how voluntary repayments work in equity release:
Lifetime Mortgage Basis: Voluntary repayments are more commonly associated with lifetime mortgages, which are the most popular type of equity release product. With a lifetime mortgage, you borrow money secured against the value of your home, and the loan, including any interest accrued, is repaid when you pass away or move into long-term care.
Interest Roll-Up: By default, with a lifetime mortgage, the interest on the loan is typically rolled up, which means it is added to the outstanding balance over time. This can lead to the debt growing substantially over the years and reducing inheritance for your beneficiaries.
Flexibility: Some equity release plans offer the flexibility for homeowners to make voluntary repayments, which can include both interest payments and capital repayments of up to 10% of the sum borrowed per year. These repayments are made on top of the regular interest accruing on the loan.
Benefits of Voluntary Repayments:
- Reducing the balance owed: Voluntary repayments allow homeowners to reduce the overall debt that accumulates over time. This can help preserve more of the home’s equity for inheritance.
- Lower Interest Costs: By paying off some or all of the interest as it accrues, homeowners can prevent interest from compounding, leading to potentially lower overall costs.
- Flexibility: Borrowers can decide when and how much to repay. This flexibility can suit different financial situations and goals
How Later Life Finance can help you compare the whole equity release market
At Later Life Finance, we have 15 years of mortgage expertise and compare equity release plans, analyse interest rate costs, plan exit criteria, and other factors to ensure we identify the most suitable solution for you.
We have technical expertise in legal aspects, including property title splits, lease extensions, and trust cases.
Get in touch with one of our equity release advisers today to discuss your requirements.
Equity release has evolved into a viable, mainstream later life mortgage product.
With 40 thousand interest-only mortgages maturing per year over the coming decade*, a safe and flexible solution now exists for homeowners to remain in their homes if downsizing isn’t preferable, and to access tax-free equity for retirement, wealth distribution by gifting an early inheritance to family, for aspirational purposes, or simply to help homeowners meet the increasing costs of living.
Get in touch with an equity release adviser to discuss your requirements today.
*Source FCA interest only mortgage report
Equity release companies to avoid?
It is sensible to avoid equity release providers that aren’t members of the Equity Release Council.
Dealing with a reputable Equity release council registered company and will ensure you access a reputable source for your requirements, as the council maintain several codes of conduct across the industry companies must follow for consumer protection.
The Equity Release Council protects you from the possible risks of equity release, including a no negative equity guarantee.
Dealing with companies who are regulated by the Financial Conduct Authority will also ensure the advice provided is regulated. This is a standard requirement across the lifetime mortgage market as the products are fully regulated by the FCA.
Comparing Equity Release Provider Arrangement Fees
When comparing companies, there are several fees to consider when releasing equity from your home.
Your adviser will provide a detailed illustration and explain what fees apply, why, and how they are best paid to help minimise the interest costs on the mortgage.
For example, you may prefer to pay the fees separately, as adding these to the mortgage can increase the level of interest repaid on the mortgage.
Application fees Comparison
Certain lifetime mortgages have application fees, which are normally around £500.
If you add them to the loan, interest will be charged on them. Some lenders allow you to pay these separately.
Mortgages with an application fee and lower interest rate may be more cost effective for people borrowing larger sums. For people borrowing smaller sums a ‘fee free’ plan with a higher rate may be more suitable.
The difference in interest rates is normally around 0.25% between the fee paid and fee free options.
Some lenders charge a transfer fee of around £35 to send the money to your solicitor when the money is paid to you.
Early repayment charges Comparison
All equity release companies have early-repayment charges, although lenders have streamlined the products over the past 10 years to add flexibility when repaying early.
Many lenders have fixed early-repayment charges which reduce down to zero over 10-15 years.
Downsizing protection is a feature to protect you when moving home and repaying the mortgage early, and is worth considering if you plan to move home and settle.
Your adviser will provide a key facts illustration detailing the specific early repayment charges.
Redemption fee Comparison
This only applies when the mortgage is finally repaid when you die or move into long-term care (on the last survivor leaving the property in joint cases).
Some firms charge a redemption fee of around £200, whilst some don’t apply this fee at all.
Adding or removing a name to the loan
If you divorce or remarried and add or remove someone to or from the equity release plan this would incur a legal fee.
Allowing around £700 plus VAT for this would be the typical cost in 2023.
Valuation fee
Most equity release lenders do not charge any valuation fees when the plan is arranged. For further advances expect to pay a valuation fee if your home needs revaluing in the event of applying for more money.
6. Solicitors fee
You do need a solicitor if you are releasing money from your home. Your adviser can normally recommend an independent firm, or you can choose your own. Your solicitor ensures the Equity Release Council legal standards are met and receives your funds from the lender to pay into your bank account on completion.
Legal costs for equity release vary from £750 upwards depending on the firm.
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