How can you stay in the home you love for longer?

How can you stay in the home you love for longer?

Find out your options with our recommended retirement services provider, Key Equity Release. No one can stop the effects of aging and as your needs change, your home may need to change too, helping you stay independent for as long as possible.

Home modifications aren’t always cheap, though. So is there another solution to selling up and downsizing if your property is no longer suitable?

Could you release tax free cash from your home? Find out here.

Making modifications

The good news is that homes can be adapted, helping you stay in them for as long as possible, be independent and enjoy the best quality of life.

Modifications to your home, such as stair lifts, a more accessible bathroom, ramps and household aids, can make all the difference between staying in familiar surroundings and downsizing or even moving into care.

The cost of care

According to consumer watchdog, Which?, the average cost of a stair lift is £3,384. Other costs could include a walk in bath or shower or even wet room, something trusted trade website, estimates could cost in the region of £5,000.

If at-home care is necessary, depending on how much you need and where you live, it can cost anywhere from £20 an hour to £1,600 a week.

So it’s easy to see how costs could mount up. While some may turn to savings to cover the cost or even look to selling up and downsizing, there are alternative options.

Download your free equity release guide to equity release and see if it could help fund the cost of future-proofing your home.

Knowing your options

Did you know you could release as little as £10,000 or up to 56% of the value of your home dependent on your personal circumstances (figures correct as of January 2021), to help future proof your home?

Find out how much you could release here.

A lifetime mortgage is the most popular type of equity release. It allows homeowners aged 55 and over to unlock some of the value of their property while staying in the home they love. Typically there are no monthly repayments to make as the loan plus roll up interest is repaid when the plan comes to an end, usually after you, or the last surviving applicant, passes away or moves into long-term care.

Having no monthly payments to make also leaves you free to relax and enjoy your retirement in the comfort of your own home for as long as you want.

Order your free equity release guide to equity release here and find out more.

9 facts about lifetime mortgages

• The tax-free cash can be used to help boost your retirement finances.

• Typically no monthly repayments unless you want to.

• Rates as low as 2.44% fixed for life.*

• Key Equity Release offer lifetime mortgages only, which is a loan secured against your home.

• You always remain the owner of your home with a lifetime mortgage.

• You can guarantee an inheritance with some of Key’s plans.

• You will never owe more than your home is worth.

• Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits.

• Key’s equity release advice relates to their range of Key-branded products and is completely free-of charge so you can find out if it's right for you without it costing you a penny.

*Lowest available rate correct as of 1 February 2021. Most Key Equity Release customers have received a fixed annual interest rate of 3.67% or lower. The overall cost for comparison is 3.85% APR. Interest rate received and plan features are subject to eligibility. Ask for a personal illustration.

In partnership with Key Equity Release